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Group Claims Fed's Proposals Could Foster Predatory Lending Among Reverse...
In response to proposed changes to home lending rules from the Federal Reserve Board (FRB) that not only exceed its authority, but could actually encourage predatory lending targeted at the elderly, a...
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California AG Harris Creates Foreclosure Relief Fund From Countrywide Settlement
California Attorney General Kamala D. Harris has announced a $6.5 million settlement of a predatory lending case against Angelo Mozilo and David Sambol, former officers of Countrywide Financial...
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Federal Prosecutors Dismiss Case Against Ex-Countrywide CEO Mozilo
The U.S. Justice Department has agreed to drop a two-year criminal investigation into former Countrywide head Angelo Mozilo on charges of insider trading. Red flags were raised as Mozilo sold $140...
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House Financial Services Committee Targets End to Obama's HAMP Program
The House Financial Services Committee has set March 3 as the date when they will vote on a measure to end the Obama Adminstration's Home Affordable Modification Program (HAMP), which, according to the...
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Joe Cliver Joins the DocuTech Team
DocuTech Corporation (DocuTech), a provider of mortgage compliance documents, closing documents and initial disclosures for the mortgage industry, has announced that Joe Cliver has been named account...
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Document Express and SaM Solutions Partner on Doc Prep Solution
An alliance between Document Express Inc. and SaM Solutions US will make ordering initial disclosures, loan closing documents, predatory lending/high-cost analysis and flood determinations as easy for...
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Avista Solutions Announces Partnership With ComplianceEase
Avista Solutions has announced its completion of a direct integration to ComplianceAnalyzer, an industry leading, automated compliance auditing solution from risk management solution company...
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Illinois AG Madigan Files Suit Against S&P for Risky MBS Ratings
Illinois Attorney General Lisa Madigan has filed a lawsuit against Standard & Poor's (S&P) for its fraudulent role in assigning its highest ratings to risky mortgage-backed securities (MBS) in...
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New York AG Reaches $4 Million Settlement With Foreclosure Mill
New York State Attorney General Eric T. Schneiderman has announced an agreement with Steven J. Baum PC, Pillar Processing LLC, Steven J. Baum, and Brian Kumiega, requiring them to pay $4 million to New...
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FTC Puts a Stop to Alleged Foreclosure Rescue Scam
At the request of the Federal Trade Commission (FTC), a U.S. district court has halted an operation that allegedly preyed on financially vulnerable homeowners, convincing them to pay $1,995 or more by...
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Seven Questions the Candidates Need to Answer Regarding the Housing Crisis
Less than three months before the presidential election, a new commentary from the Center for American Progress aims to elevate a critical issue that has yet to be discussed on the campaign trail—the...
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Judge Okays Predatory Lending Suit Against Morgan Stanley
A federal court has ruled that a landmark discrimination lawsuit against Morgan Stanley can move forward. Judge Harold Baer denied in part the investment bank’s motion to dismiss the case, which...
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Nationstar Faces $35 Million Home Auction Suit
Lewisville, Texas-based Nationstar Mortgage has had a rough 2013. Back in March, the mortgage servicer was accused of harming investors by auctioning off securities.Click to continue
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Congress Schooled on the QM Rule
The House Subcommittee on Financial Institutions and Consumer Credit held a hearing Tuiesday entitled, “How Prospective and Current Homeowners Will Be Harmed by the CFPB’s Qualified Mortgage Rule,”...
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Cook County Sues Wells Fargo on Predatory Lending Charges
The government of Illinois’ Cook County has filed a federal lawsuit against Wells Fargo, charging that the nation’s largest mortgage lender engaged in predatory lending practices aimed at minority...
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