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Mortgage Servicers

An Open Letter to Jamie Dimon

Jorge Newbery | Posted 05.26.2014 | Business
Jorge Newbery

As consumers continue to suffer, you and your bank continue to profit: Chase earned $21.3 billion in 2013, and you, Mr. Dimon, earned $20 million in the same period.

How Homeowners Are Getting Screwed Again

The New York Times | JESSICA SILVER-GREENBERG and MICHAEL CORKERY | Posted 02.19.2014 | Business

Shoddy paperwork, erroneous fees and wrongful evictions — the same abuses that dogged the nation’s largest banks and led to a $26 billion settleme...

Ben Hallman

Foreclosure Industry Says It'll Do A Better Job Of Screening Its Workers After Widespread Break-Ins | Ben Hallman | Posted 01.30.2014 | Business

After hundreds of lawsuits and thousands of complaints, banks are finally pushing for reform in one of the darkest corners of the housing market. Unde...

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 ...

Mortgage Servicers Strong-Arming Tornado Victims

The New Republic | Posted 08.18.2013 | Business

In May 20, a massive EF5 tornado whipped through heavily populated Moore, Oklahoma, killing 24 and injuring nearly 400. That tragedy has now shifted i...

Take Two: A Remedy for the Robo-Signing Remedy

Janis Bowdler | Posted 07.08.2013 | Latino Voices
Janis Bowdler

The Independent Foreclosure Review process has been an utter disappointment. More than four million families have been waiting for answers since the IFR was instituted in April 2011.

How Mortgage Servicing Has Come to Resemble Professional Wrestling (But Not As Much Fun)

Joel Sucher | Posted 06.14.2013 | Business
Joel Sucher

As a long-time fan of professional wrestling I've come to see how much of mortgage servicing resembles what goes on in the ring. Like wrestling the servicing business is full of "works," "gimmicks," "heels and baby faces," so let me explain.

Mortgage Settlement Helping Homeowners and Exceeding Expectations

Shaun Donovan | Posted 05.08.2013 | Business
Shaun Donovan

The settlement has already far surpassed our initial expectations of total consumer relief and will likely grow to more than $50 billion. And yet, some remain unconvinced that the settlement is really making a difference or that banks are beginning to meet their obligations.

Ben Hallman

Mortgage Settlement Relief Fails To Reach Millions Of Foreclosed Homeowners | Ben Hallman | Posted 03.05.2013 | Business

Betsy Berry was worried she would lose her home just outside of New Orleans. Though she had never missed a payment on her mortgage, she says, Bank of ...

Who's Behind the Latest Bank Giveaway?

Adam Levin | Posted 03.26.2013 | Business
Adam Levin

After raising hopes that some defrauded homeowners may finally see justice, the agency's bungled investigation and rushed settlement only managed to twist the knife deeper. Simply put, it's a travesty and still, no one goes to jail.

The Most Outrageous Tax of the Year

Adam Levin | Posted 11.12.2012 | Money
Adam Levin

Democrats must get serious and back legislation that protects all the relief won in the National Mortgage Settlement, not just some of it. Republicans must stop their willful obstructionism, and follow through on their oft-repeated promises to prevent taxes that hurt the economy.

What's in Your Wallet? Hopefully Your Share of the National Mortgage Settlement

Adam Levin | Posted 11.07.2012 | Money
Adam Levin

Hell has frozen over! After years of lawsuits and investigations by federal and state law enforcement agencies mortgage servicers are finally being forced to repay some of the billions of dollars they stole from American consumers. Unfortunately, the timing couldn't be worse.

Holding the Banks' Feet to the Fire

Shaun Donovan | Posted 10.10.2012 | Business
Shaun Donovan

The $25 billion mortgage servicing settlement won't solve all of housing problems overnight. But the story of Katie Diaz and the countless others like her does not suggest that the settlement is failing -- but rather the importance of holding the banks' feet to the fire in the months to come.

Mark Gongloff

Treasury Ignored Mortgage Fraud Warnings: Book | Mark Gongloff | Posted 07.20.2012 | Business

If the Obama administration's mortgage-relief program has been a bit of a flop, it didn't have to be so. In a new book, TARP's former inspector gen...

WATCH: The Fed Has Something To Say To Foreclosure Victims

The Huffington Post | Alexander Eichler | Posted 05.24.2012 | Money

To steer homeowners toward a little-used foreclosure review program, the government is harnessing the power of YouTube. The Federal Reserve release...

Ben Hallman

Early CFPB Reforms Disappoint Activists | Ben Hallman | Posted 05.15.2012 | Business

When the framers of the national mortgage settlement agreed to let the deal expire in three-and-a-half years, it was with the assumption that the Cons...

Ben Hallman

In Widely Published Photo, A House That Illustrates The Foreclosure Crisis | Ben Hallman | Posted 04.24.2012 | Business

ISLIP, N.Y. -- Photographer Spencer Platt spotted the small white house with boarded-up windows and doors a couple months ago, when he was out here on...

Ben Hallman

New Orleans Homeowner Wins The Foreclosure Lottery | Ben Hallman | Posted 04.09.2012 | Business

A federal judge who has fiercely criticized how big banks service home loans is fed up with Wells Fargo. In a scathing opinion issued last week, E...

Mark Gongloff

Who's Really Paying The Tab For The Mortgage Settlement? | Mark Gongloff | Posted 02.18.2012 | Business

Just who is paying for the big mortgage settlement, anyway? The Obama administration says it's the banks. Mortgage investors worry it will be them....

Ben Hallman

Consumers Mostly Complain About Credit Cards To New Agency | Ben Hallman | Posted 02.13.2014 | Business

The new Consumer Financial Protection Bureau has received about 12,000 complaints over the past six months from consumers who had problems with their ...

Ben Hallman

Bank Mistake May Cost Foreclosure Lawyer Her Home | Ben Hallman | Posted 01.07.2012 | Business

Christine Jackson's three-bedroom wood-frame home in Indianapolis is in danger of foreclosure. It's not because she can't afford her mortgage, but bec...

William Alden

Goldman Sells Mortgage Unit, Takes Some Heat From Regulators | William Alden | Posted 11.01.2011 | Business

NEW YORK -- On Thursday, Goldman Sachs gained the government's blessing to sell off its mortgage unit, but not without a couple of reprimands. The ...

FDIC Chair: Mortgage Industry 'Didn't Think Borrowers Were Worth Helping'

ProPublica | Posted 09.12.2011 | Business

By Lois Beckett, ProPublica Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila C. Bair's revealing exit interview by the New York Times...

In Fine Print, Banks Require Struggling Homeowners To Waive Rights

ProPublica | Paul Kiel | Posted 07.09.2011 | Business

A few months ago, Bank of America offered Sergio Cortez of Staten Island, N.Y., the help he desperately needed to stay in his home: a break on his mor...

Zach Carter

Lawmakers Pushing Back Against Banks' Foreclosure-Settlement Complaints | Zach Carter | Posted 05.25.2011 | Politics

WASHINGTON -- As bank executives push back against the terms of a foreclosure settlement with fees that may be as high as $20 billion, progressive leg...