iOS app Android app

Mortgage Backed Securities

Hiding in Plain Sight: Janet Yellen's Policies Should Make Her Ashamed

Sue Veres Royal | Posted 09.29.2016 | Impact
Sue Veres Royal

Simply put, the Fed pulled off a magic trick that would leave Houdini gasping. Janet Yellen and the Fed took the made-up money and bought Wall Street assets that would have otherwise crashed and gave money to Wall Street banks that would have otherwise gone bankrupt...with no strings attached.

The Big Short - a chronicle of infectious shortsightedness; epidemic blindness, delusion, and deceit.

Joseph Cooper | Posted 01.06.2017 | Entertainment
Joseph Cooper

"Crap." That word is used quite often by the handful (one handful) of analysts and traders who "shorted" (bet against) the trillion-dollar mortgage-b...

Perception Trumps Reality in National Mortgage Settlement

Richard Gaudreau | Posted 09.06.2016 | Business
Richard Gaudreau

In the past couple of months several of my bankruptcy clients received letters from Bank of America releasing them from all liability on second mortga...

Bank Whistleblower Alayne Fleischmann on How JPMorgan Chase Helped Wreck the Economy

Democracy Now! | Posted 01.11.2015 | Business
Democracy Now!

A year ago the DOJ announced that the banking giant JPMorgan Chase would avoid criminal charges by agreeing to pay $13 billion to settle claims that it had routinely overstated the quality of mortgages it was selling to investors. But how did the bank avoid prosecution for committing fraud that helped cause the 2008 financial crisis?

Goldman Sachs Close To $1.1 Billion Fine Over Sketchy Mortgages

Reuters | Posted 08.22.2014 | Business

Aug 22 (Reuters) - Goldman Sachs Group Inc could pay about $1.1 billion to settle claims from the U.S. housing finance regulator that it sold bad mort...

Big Bank Financial Settlements: Get out of Jail Free Cards?

Frank Islam | Posted 09.24.2014 | Business
Frank Islam

We recognize that jails are not known as good places for rehabilitation and reform. We are not talking about that here, however. What we are talking about is a matter of fairness and equitable treatment.

Cuomo, Schneiderman Reach Crucial Agreement

Reuters | Posted 03.23.2014 | Business

Jan 21 (Reuters) - New York Governor Andrew Cuomo and Eric Schneiderman, the state's attorney general, have reached an agreement on how to divide a ...

Probe Suggests Banks Didn't Learn A Thing From Crisis

Reuters | Posted 03.10.2014 | Business

Jan 8 (Reuters) - Federal regulators are probing whether several big banks deliberately mispriced mortgage bonds in the years following the financia...

Bank Of America Faces Huge Fine

Reuters | Posted 10.22.2013 | Business

(Reuters) - U.S. housing regulators are looking to fine Bank of America more than $6 billion for its role in misleading mortgage agencies during the h...

Shahien Nasiripour

JPMorgan: We're Being Investigated By The DOJ | Shahien Nasiripour | Posted 08.08.2013 | Business

JPMorgan Chase said Wednesday it's under federal criminal investigation over its sale of mortgage securities, potentially making the biggest U.S. bank...

Eleazar David Melendez

This Looks Familiar | Eleazar David Melendez | Posted 05.16.2013 | Business

NEW YORK -- Huxley Sommerville, group managing director at Fitch Ratings, increasingly fears another massive financial crisis. Ask him why and he tell...

BofA To Pay Record Sum Over Claims Countrywide Misled Investors

Reuters | Posted 06.17.2013 | Business

* Countrywide accused of misleading investors on MBS * Largest settlement for federal MBS class action * BofA says much ...

Bank of America Agrees To $165 Million Settlement

Reuters | Posted 06.02.2013 | Business

WASHINGTON, April 2 (Reuters) - Bank of America Corp agreed to pay $165 million to resolve claims from the U.S. credit union regulator over purchas...

Study: Many In Wall Street's Mortgage Machine Never Saw Crash Coming

The Huffington Post | Mark Gongloff | Posted 03.25.2013 | Business

Maybe Wall Street fleeced itself. A new study suggests that, rather than just leading innocent investors to take losses by betting on a housing mar...

Supreme Court Knocks Down Goldman Sachs

Reuters | Posted 03.20.2013 | Business

By Lawrence Hurley and Jonathan Stempel WASHINGTON (Reuters) - Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let st...

Credit Suisse Faces Government Probe

Reuters | Posted 02.22.2013 | Business

By Karen Freifeld NEW YORK (Reuters) - The U.S. Attorney's Office in New Jersey is investigating Credit Suisse AG over mortgage-backed securities p...

Eleazar David Melendez

Bankers Who Made Millions In Housing Boom Misled Investors: Study | Eleazar David Melendez | Posted 02.13.2013 | Business

Bankers who made billions of dollars packaging home loans into bonds during the prime years of the housing boom provided false information to investor...

GE To Settle Claims It Misled Government Agency

Reuters | Posted 03.25.2013 | Business

NEW YORK, Jan 23 (Reuters) - General Electric Co has agreed to settle a federal agency's lawsuit accusing it of misleading Freddie Mac into buying $...

WATCH: 'Frontline' Producer Previews Wall Street Fraud Investigation

HuffPost Live | John Stephens | Posted 01.22.2013 | HuffPost Live 321

Martin Smith, producer of the new PBS Frontline episode, "The Untouchables," joined HuffPost Live Tuesday to discuss his investigation into the lack o...

FBI Should Investigate Bankers, Not Protesters

C. Robert Gibson | Posted 01.02.2013 | Politics
C. Robert Gibson

It's offensive that it is now considered criminal activity to peacefully protest economic inequality. But it's disgusting that our government is letting real terrorists and criminals get away while going after the very people trying to make things right.

$400 Million Deal

Mark Gongloff | Posted 11.16.2012 | Business

JPMorgan Chase and Credit Suisse will together pay $417 million to settle charges they misled investors about the quality of residential mortgage-back...

The Federal Reserve Declares Independence

Diane Swonk | Posted 10.26.2012 | Business
Diane Swonk

Will open-ended easing work? Fed Opens Door on New Era In an unprecedented move, the Federal Reserve voted to expand its balance sheet by $40 billio...

Did the IRS Cause the Financial Crisis?

Bradley T. Borden | Posted 12.18.2012 | Business
Bradley T. Borden

The IRS possesses a fearsome audit power that gives it access to records and information that the public and litigants are yet to obtain. It should have used that power more effectively before the financial crisis.

What Mitt Romney and Liar Loans Have in Common (Be Very Afraid)

Adam Levin | Posted 12.05.2012 | Money
Adam Levin

As I watched Governor Romney in the presidential debate Wednesday night I was reminded of a financial tactic the candidate's political supporters and financial backers on Wall Street used during the mortgage boom -- the one that netted them billions of dollars while simultaneously pushing the American economy off a cliff.

The One Big Thing Missing From the JPMorgan Chase Lawsuit

Mark Gongloff | Posted 12.03.2012 | Business
Mark Gongloff

Eric Schneiderman's lawsuit against Bear Stearns and JPMorgan Chase over mortgage-backed securities is like London at the start of the zombie movie 28 Days Later: devoid of human life.