Aurora Bank is the former loan origination and servicing unit of Lehman Brothers, which entered into bankruptcy back in 2008.

Antoine Gara with TheStreet revealed an interesting back-story to Aurora’s agreement to settle with federal regulators over its foreclosure practices this week. Aurora is among 10 servicers that agreed to settle. The settlement replaced ongoing independent foreclosure reviews.

Gara writes:

It is during Lehman’s multi-year bankruptcy process when Aurora’s improper foreclosure practices appear to have occurred. The Fed and OCC settlement states that the foreclosure review is for actions taken between 2009 and 2010, when Aurora was being managed by the Lehman Brothers estate, restructuring specialist Alvarez & Marsal.

Most Popular Articles

Fannie Mae, Freddie Mac watchdog prepping for "massive IPO"

The watchdog for Fannie Mae and Freddie Mac is interviewing Wall Street firms to handle a public offering that would dwarf any IPO in history, Fox says.

Dec 09, 2019 By

Latest Articles

FHA mortgage applications surge on low interest rates

With last week’s mortgage rates continuing to hover near historic lows, the MBA indicates mortgage applications rose. Applications rose significantly for FHA loans, as borrowers sought to refinance their mortgages thanks to near-yearly lows in interest rates on FHA loans.

Dec 11, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please