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Foreclosure Settlement

Ben Hallman

Foreclosure Settlement Still Failing 700,000 Families One Year Later | Ben Hallman | Posted 01.25.2014 | Business

One year after federal bank regulators pledged that a nearly $10 billion legal settlement would quickly deliver cash to foreclosure abuse victims, hun...

Ben Hallman

400,000 Foreclosure Settlement Checks Sent To Wrong Address | Ben Hallman | Posted 07.25.2013 | Business

Like millions of Americans who tried to stave off foreclosure in recent years, Lanette Worles says her bank repeatedly lost vital paperwork she submit...

In The Public Interest : Four Reasons Lawmakers Are Scrutinizing How Companies Turn Settlements From Wrongdoing Into Tax Write Offs

Phineas Baxandall | Posted 09.01.2013 | Politics
Phineas Baxandall

The oil giant BP paid for cleanup and compensation for their massive Gulf oil spill, and rightfully so. But was this a "necessary and ordinary cost of doing business" that deserved a $10 billion tax break? I think most of us would respond with a resounding, "no!"

Shahien Nasiripour

Banks May Face Stricter Mortgage Measures After Big Settlement Fail | Shahien Nasiripour | Posted 06.20.2013 | Politics

State and federal regulators are weighing whether to impose additional restrictions on the mortgage practices of five of the nation’s largest banks ...

Ben Hallman

Foreclosure Settlement Checks Are Much Smaller Than Regulators Forecasted: Homeowners | Ben Hallman | Posted 05.01.2013 | Business

Adam Crain reckoned he was due $125,000. That amount would come as compensation for losing his Oak Harbor, Wash., home to foreclosure while he was ser...

OCC Ya! The Government Agency That Should Fine Itself

Adam Levin | Posted 06.19.2013 | Business
Adam Levin

Let's face it. The biggest bank regulator in the U.S. is an abject failure. Worse, it's costing us oodles of money, and not just from bounced checks.

Ben Hallman

Foreclosure Settlement Checks Bounce In Latest Setback For Troubled Program | Ben Hallman | Posted 04.17.2013 | Business

The foreclosure abuse settlement that was intended to speed relief to homeowners is ending as it began: with controversy and complaints that the progr...

Ben Hallman

Ally Bank's Aggressive Campaign To Avoid Paying For Housing Crisis | Ben Hallman | Posted 04.11.2013 | Business

In most respects, Sandy Christine's is the story of the foreclosure crisis in full. The Wasilla, Alaska, resident and her husband both lost their j...

Shahien Nasiripour

Foreclosure Review Finds Potentially Widespread Errors | Shahien Nasiripour | Posted 04.09.2013 | Business

BOSTON -- Nearly a third of all foreclosed borrowers who faced proceedings brought by the biggest U.S. mortgage companies during the height of the hou...

Banks Wrongfully Foreclosed On Over 700 Military Members

Dealbook | JESSICA SILVER-GREENBERG and BEN PROTESS | Posted 03.04.2013 | Business

The nation’s biggest banks wrongfully foreclosed on more than 700 military members during the housing crisis and seized homes from roughly two dozen...

Ben Hallman

Top Dem Urges Congress To Investigate Foreclosure Abuse Settlement | Ben Hallman | Posted 02.05.2013 | Business

The top Democrat on the House Financial Services Committee called Tuesday for Congress to "immediately" hold a hearing to investigate a controversial ...

Ben Hallman

Warren Demands Transparency On Failed Foreclosures | Ben Hallman | Posted 01.31.2013 | Business

Three influential lawmakers on Thursday called for bank regulators to disclose more details of the $8.5 billion foreclosure abuse settlement reached e...

Fleeting Responsibility Abounds in 2013

Rev. Seamus P. Finn, OMI | Posted 03.31.2013 | Politics
Rev. Seamus P. Finn, OMI

Is it any wonder that we are bombarded on a daily basis about the new lows to which public confidence in government agencies, elected officials and corporations has sunk?

Ben Hallman

Recent Foreclosure Settlement Was A Win For Big Banks | Ben Hallman | Posted 01.25.2013 | Business

The $8.5 billion foreclosure abuse settlement reached earlier this month with the mortgage industry was designed, bank regulators said, to speed quick...

Major Banks To Fork Over Huge Sum To Troubled Borrowers

Reuters | Posted 03.18.2013 | Business

WASHINGTON, Jan 16 (Reuters) - Goldman Sachs Group Inc and Morgan Stanley will pay $557 million in cash and other assistance to troubled borrowers ...

Ben Hallman

Inside The Twisted, Doomed-From-The-Start World Of 'Independent' Foreclosure Review | Ben Hallman | Posted 01.14.2013 | Business

Last January, dozens of independent contractors showed up for their first day of work at a large, single-story Bank of America building in Tampa to ri...

'The Sucker Class': People Government Bailouts Screwed Over

The Huffington Post | Harry Bradford | Posted 01.10.2013 | Business

Finally, we have a term for all of those people who've gotten screwed over by the bailouts: "The sucker class." The stated intention of the post-fi...

Goldman Sachs To U.S.: Let's Make A Deal

Reuters | Posted 03.11.2013 | Business

Jan 8 (Reuters) - Goldman Sachs Group Inc and Morgan Stanley are among a group of banks expected to agree as soon as this week to a $1.5 billion set...

Mark Gongloff

Homeowners Are Still Losers | Mark Gongloff | Posted 01.09.2013 | Business

Science has determined that people need to know 7.5 things per day, on average, about the world of business. You can't argue with science. Lucky for y...

Eleazar David Melendez

New Foreclosure Settlement Replaces Henhouse Fox With Wolf, Advocates Say | Eleazar David Melendez | Posted 01.08.2013 | Business

For more than a year, housing advocates and their allies worried that a review of foreclosed loans managed by banking regulators was vulnerable to mor...

Ben Hallman

Independent Foreclosure Review Process Ditched Ahead Of 'Critical' Report | Ben Hallman | Posted 12.31.2012 | Business

The surprising decision by regulators to scrap a massive and expensive foreclosure review program in favor of a $10 billion settlement with 14 banks -...

Ben Hallman

Mortgage Settlement Cash Siphoned Off: State Sticky Fingers Send Funds To Pet Projects | Ben Hallman | Posted 10.25.2012 | Business

After a bruising year-long battle with banks that resulted in a $25 billion mortgage settlement, the state attorneys general who led the negotiations ...

Peter S. Goodman

Homeowner Hell Continues: Mortgage Companies Fail To Abide Foreclosure Settlement | Peter S. Goodman | Posted 10.25.2012 | Business

NEW YORK -- Katie Diaz arrives at the Bronx County Courthouse hoping for clarity, if not a reprieve from the foreclosure case threatening her home. Fi...

Process Was Designed To Fail, Critics Charge

Reuters | Posted 09.15.2012 | Money

* Limited response from potential beneficiaries * Outreach letters too complex for most borrowers * Process was designed...

How the Big Banks Lost and Homeowners Won in California

Rick Jacobs | Posted 09.02.2012 | Business
Rick Jacobs

Bills that looked very much like the Homeowner Bill of Rights had been introduced for four years. They died in committee or on the floor at various times, until now. The difference?