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Insiders Ignored Foreclosure Crisis Signals For Years

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Insiders anticipated the current foreclosure crisis years before it struck and now, it seems, it must get worse before it can get better. System-wide...

In The Public Interest : The More You Know, The More You Know We Need A Strong CFPB

Ed Mierzwinski | Posted 05.25.2011 | Politics
Ed Mierzwinski

This month's story, dear reader, is about sloppy bank servicing of mortgages, starting with the infamous robo-signers and now escalating to every elem...

Mortgage Companies: Playing Loosely With the Rules of Foreclosure

Lisa Madigan | Posted 05.25.2011 | Chicago
Lisa Madigan

Ninety years ago, Kafka took aim at government. Today, he surely would find equal targets in Chase, Wells Fargo, GMAC and Bank of America.

Bailout Watchdog Investigating Alleged Foreclosure Fraud

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — A government watchdog is investigating government-owned GMAC Mortgage after a company employee admitted to approving thousands of f...

GMAC Mortgage To Review Foreclosure Documents Nationwide

AP | ALEX VEIGA and ALAN ZIBEL | Posted 05.25.2011 | Business

LOS ANGELES — Two big mortgage lenders are reviewing foreclosures as public officials heighten pressure on the industry over allegations that th...

WATCH: Analyst Tears Into CNBC Anchor Over Foreclosure Crisis

The Huffington Post | William Alden | Posted 05.25.2011 | Business

The current foreclosure crisis is unprecedented in American history, Barry Ritholtz said on Monday. The Fusion IQ CEO told CNBC's Larry Kudlow and Di...

Foreclosure Moratorium Would Be 'Catastrophic,' Wall Street Trade Group Says

The Huffington Post | William Alden | Posted 05.25.2011 | Business

Halting foreclosures across the nation would be "catastrophic" for the economy, a financial industry trade group said Monday. Tim Ryan, CEO of the Se...

Foreclosure Fraud Inquiry Planned By Up To 40 States

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — The attorneys general of up to 40 states plan to announce soon a joint investigation into banks' use of flawed foreclosure paperwor...

Bank Of America Stops Foreclosures In All 50 States, Escalating Crisis

The Huffington Post | William Alden | Posted 05.25.2011 | Business

UPDATE: Senate Majority Leader Harry Reid (D-Nev.) supports Bank of America's decision to halt foreclosures across the nation, according to a release....

Boiler Rooms and Foreclosure Mills: A Brief History of America's Mortgage Industry

Michael W. Hudson | Posted 05.25.2011 | Business
Michael W. Hudson

Washington failed to act the first time around -- when lenders were engaged in a frenzy of predatory lending. The foreclosure scandal is a second chance for lawmakers to prove they can ferret out the truth.

Obama Must Reject The Foreclosure Fraud Bailout

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

UPDATE: President Obama vetoed the foreclosure fraud bailout this afternoon, but plenty of other battles are already raging. Rep. Alan Grayson, D-Fla....

Little-Noticed Bill Could Make It Harder To Challenge Foreclosures

The Huffington Post | William Alden | Posted 05.25.2011 | Business

UPDATE: An Obama administration official tells HuffPost that the White House has 'concerns' about the bill. Challenging foreclosures could become mor...

Ohio Attorney General Sues Ally Financial Over Alleged Foreclosure Fraud, First In A Possible Wave Of Lawsuits

AP | ALAN ZIBEL and ANN SANNER | Posted 05.25.2011 | Business

WASHINGTON — Ohio's attorney general is suing Ally Financial Inc. and its GMAC Mortgage division, alleging the company violated state fraud laws...

Dems Come Alive!

Michael Moore | Posted 05.25.2011 | Politics
Michael Moore

Just four weeks until the midterm elections and I'm starting to feel that maybe, just maybe, Democrats will prevent an All Souls Day Massacre. And if the Dems escape death's door, they had better not let this nonsense happen again.

Legalizing the Bank Foreclosure Mess

Pat Choate | Posted 05.25.2011 | Politics
Pat Choate

Under pressure, Bank of America has halted mortgage foreclosures in the 23 states that require court approval. So too, have Ally Financial and JP Morgan Chase. Other banks are likely to do the same.

Banks Breaking Into Homes To Change Locks

The Huffington Post | William Alden | Posted 05.25.2011 | Business

UPDATE: Jacobini and her lawyer, Matthew Weidner, told MSNBC's Dylan Ratigan that Jacobini "is not in foreclosure at all." An earlier report from WFTV...

Apartment Market Strengthens, As Larger Housing Woes Mount

The Huffington Post | William Alden | Posted 05.25.2011 | Business

The best time to sign a lease may have just passed, as the apartment rental market has strengthened, Bloomberg reports. Good news for landlords, bad n...

Five Ways the Democrats Can Avoid a Catastrophe and Pull Off the Mother of All Upsets

Michael Moore | Posted 05.25.2011 | Politics
Michael Moore

If you're of a mindset that believes a return to 2001-2008 would be sheer insanity, then you probably agree we've got no choice but to save the Democrats from themselves.

JPMorgan Floreclosures Challenged By Lawyers

The Huffington Post | William Alden | Posted 05.25.2011 | Business

The integrity of thousands of foreclosure notices issued by JPMorgan Chase could be cast in doubt, as a court battle over one Florida homeowner's fore...

GMAC Pulls Foreclosure Affidavits Signed By Kristine Wilson

Washington Post | Posted 05.25.2011 | Business

Attorneys for homeowners in Florida say Ally Financial's GMAC mortgage unit has begun to withdraw affidavits submitted in support of foreclosures that...

GMAC Foreclosures Investigated By State Attorneys General

Bloomberg | Dakin Campbell | Posted 05.25.2011 | Business

Attorneys general in three U.S. states are investigating foreclosures at Ally Financial Inc.'s GMAC Mortgage unit after the lender said it would halt ...

Arthur Delaney

Franken: Foreclosure Paperwork Scandal Shows Need To Strengthen HAMP | Arthur Delaney | Posted 05.25.2011 | Business

The revelation that massive numbers of foreclosures may be tainted by bogus paperwork from mortgage servicers is further evidence that the Obama admin...

Foreclosures Halted After Testimony That Lender Broke Rules In Document Filings

Washington Post | Ariana Eunjung Cha | Posted 05.25.2011 | Business

Some of the nation's largest mortgage companies used a single document processor who said he signed off on foreclosures without having read the paperw...

Pay Czar's Pay Limits Didn't Drive Most Execs Away | ERIC DASH | Posted 05.25.2011 | Business

For months, Wall Street banks and the troubled automakers feverishly protested that their top executives would flee if they were not lavishly rewarded...

Arthur Delaney

Indiana Homeowner Kicked Out Of HAMP For Early Payment Wins Reprieve | Arthur Delaney | Posted 05.25.2011 | Business

After losing one of her part-time jobs in the fall, Indiana law student Melissa Stuart applied for a mortgage modification in hopes of reducing her mo...