Items Tagged with 'Settlement'
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  • gloomy grey white house

    Senate Judiciary Committee chair wants answers on where all the mortgage settlement money went

    Sen. Grassley asks DOJ to consider clawing back funds
    June 16, 2017
    Ben Lane
    Earlier this month, the Trump administration’s Department of Justice put a stop to an Obama administration tactic of dictating that some companies send settlement funds to unaffiliated third parties, a practice that Republicans criticized as a “slush fund” operation. Now, a top Republican wants answers on which organizations got the settlement funds, what the organizations did with the money, and it wants the DOJ to potentially claw some of that money back.
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  • building

    DOJ ordered to stop mortgage settlement money flowing into "left-wing activist organizations"

    Republicans accused Obama administration of using money as "slush fund"
    June 7, 2017
    Ben Lane
    Over the last few years, some of the largest settlements between financial institutions and the Obama administration’s Department of Justice contained stipulations that some of the settlement money be sent to unaffiliated third parties, a practice that Republicans criticized as a “slush fund” operation. But now that Republicans are in charge of the DOJ, that practice is ending, immediately.
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  • US Capitol

    Warren, Lankford lead bipartisan effort to shine light on government settlements

    Senate bill would increase transparency into negotiations, settlement terms
    May 17, 2017
    Ben Lane
    For the third time in the last four years, Sen. Elizabeth Warren, D-Mass., is leading a bipartisan push to shed some light on how the government reaches the occasionally massive settlements with businesses for various forms of misconduct. Here are the details on the "Truth in Settlements Act."
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  • cash

    JPMorgan Chase to pay nearly $800 million in final Lehman Brothers settlement

    Pushes total settlement costs well above $2 billion
    February 1, 2017
    Ben Lane
    JPMorgan Chase disclosed Wednesday that it reached a final settlement agreement with Lehman Brothers, ending the failed investment bank’s lawsuit over claims that JPMorgan illegally siphoned billions of dollars from Lehman before its collapse. JPMorgan Chase’s final settlement payout checks in at well above $2 billion.
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  • Model house on money

    Credit Suisse reaches $5.28 billion mortgage bond settlement

    Required to provide $2.8 billion in consumer relief
    January 18, 2017
    Ben Lane
    For the second time in as many days, the Department of Justice announced that it reached a multi-billion dollar settlement with a foreign-based bank over its mortgage securitization practices leading up to the housing crisis. On Tuesday, the DOJ announced that it reached a $7.2 billion settlement with Deutsche Bank. Now, it’s Credit Suisse’s turn.
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  • Bank of America

    Bank of America nearing halfway mark in $7 billion consumer relief effort

    Payment part of $16.65 billion settlement over toxic mortgages
    November 6, 2015
    Ben Lane
    Bank of America is approaching the halfway point in delivering on its $7 billion promise of consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice and others to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.
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This month in
HousingWire magazine

Cover Story
April 2018

The 2018 HW Tech100

This year’s HW Tech100 features a much more expansive landscape than ever before. Winners included heavy hitters and innovative disruptors. Even new tech players in the blockchain space are joining the party now. Other exciting developments can be seen on the identity-protection and fraud-prevention sides. But make no mistake, the name of the game in tech, these days, is lending, lending, lending.

Feature

How mortgage companies are capitalizing on their greatest asset: big data

Sarah Wheeler
Sarah Wheeler
 InvestmentsLending
The evolution from a paper-based process to this era of big data is astounding. Consider that according to IBM, 90% of the world’s data has been created in the last two years. The Internet of Things — your thermostat, refrigerator, even your kid’s Barbie doll — is increasing that data exponentially. For mortgage companies, that data represents a treasure trove more valuable than the gold bars stacked in the vault at the New York Federal Reserve Bank, but only if they can figure out how to harness it for their specific business. Fortunately, scores of fintech companies are ready to help.

Commentary

The pitfalls of depending on automation in post-close valuations

Mark Melikian
Mark Melikian
 Real Estate
Accurate, trustworthy valuations require taking a deeper look. That’s why it’s important to have a valuation expert independently review every valuation report and determine whether it makes sense. The most trustworthy valuation providers have a team of highly trained reviewers on staff who diligently analyze every comparable on a valuation report and ask: “Will a potential buyer consider this property similar to the subject property?”