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National Mortgage Settlement

Bank Of America Deal A Victory For New York Families

Eric T. Schneiderman | Posted 10.21.2014 | Politics
Eric T. Schneiderman

This settlement sends a strong message that banks that prey on customers and investors will be held accountable. I will continue to investigate financial institutions that bend the rules for their own benefit, and pursue equal justice for all New York families.

Shahien Nasiripour

Elizabeth Warren Teams With Arch Conservative On Bank Transparency Bill | Shahien Nasiripour | Posted 01.23.2014 | Politics

A bipartisan pair of lawmakers are targeting federal regulators and the Department of Justice over their allegedly opaque settlements with companies a...

Ben Hallman

'Historic' JPMorgan Settlement Won't Help Most Of The Neediest Cases | Ben Hallman | Posted 11.20.2013 | Business

The biggest legal settlement in history between the United States government and a single entity will directly benefit, at best, a tiny fraction of th...

Are Big Banks Keeping Their Promises to Homeowners?

National Council of La Raza | Posted 08.20.2013 | Latino Voices
National Council of La Raza

Wednesday's report from Monitor Smith offers an examination of whether banks are making good on their promise to the 49 states who entered the agreement. According to the parameters that Monitor Smith is using, the banks have complied with several but not all points.

Bank of America Whistleblowers Allege Rot at the Core of the Mortgage Industrial Complex

Ray Brescia | Posted 08.20.2013 | Business
Ray Brescia

If this is what reformed behavior looks like, the Justice Department and the state attorneys general who negotiated the agreement may need to go back to the drawing board in their efforts to police foreclosure abuse.

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 ...

Shahien Nasiripour

Banks Caught In How Many Mortgage Settlement Violations? | Shahien Nasiripour | Posted 06.19.2013 | Politics

The government-appointed monitor overseeing mortgage practices as part of last year’s robo-signing settlement between five big U.S. banks and dozens...

Big Banks Say They've Done Their Part To Help Troubled Borrowers

Posted 05.22.2013 | Business

Bank of America and JPMorgan Chase say they’ve fulfilled their obligations to troubled borrowers mandated by a settlement the banks agreed to last y...

Ryan Grim

Key Democrat Criticizes Obama Administration For Lacking 'Political Will' | Ryan Grim | Posted 04.24.2013 | Politics

WASHINGTON -- New York Attorney General Eric Schneiderman has privately criticized the Obama administration and the Department of Justice for not aggr...

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...

Ben Hallman

Guess Who's Not Enforcing Consumer Protection Laws | Ben Hallman | Posted 03.26.2013 | Business

Fannie Mae, Freddie Mac and the federal agency that oversees them all are failing in their responsibility to protect homeowners from abusive bank prac...

Dancing Around the Housing Crisis: A Response to Secretary Shaun Donovan

Elizabeth Lynch | Posted 05.25.2013 | Business
Elizabeth Lynch

Donovan must continue to monitor the progress of the Settlement with its goal in mind: to save families' homes from unnecessary foreclosure. With so few first lien modifications reported by the banks, it is clear that goal is not being achieved.

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 ...

Ben Hallman

Bank Mortgage Settlement Numbers 'Hugely Out Of Whack' | Ben Hallman | Posted 02.21.2013 | Business

The largest mortgage settlement in U.S. history was pitched by its creators as a deal that would offer quick aid to 1 million people in danger of losi...

Wells Fargo In Hot Water Over Sandy Policy

Reuters | Posted 01.16.2013 | Business

* Delays may violate mortgage settlement - attorney general * Bank says actions misinterpreted, it is helping customers ...

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 ...

Ben Hallman

JPMorgan Chase Records Record Profits, But Homeowners Are Unimpressed | Ben Hallman | Posted 10.25.2012 | Business

With a big assist from its mortgage division, JPMorgan Chase reported a record quarterly profit of $5.3 billion on Friday, another encouraging sign th...

Ben Hallman

After Mortgage Settlement, Banks Continued Abusive Practices, California Monitor Says | Ben Hallman | Posted 10.25.2012 | Business

The five big banks that agreed in a $25 billion mortgage settlement to reform foreclosure practices have continued to "dual-track" homeowners, an abus...

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.

Ben Hallman

Too Big To Jail: Wall St. Execs Unlikely to Face Criminal Charges, Source Says | Ben Hallman | Posted 09.08.2012 | Business

A last-ditch effort by federal and state law enforcement authorities to hold Wall Street accountable for nearly bringing down the U.S. economy is unli...

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.

Ben Hallman

The Bank With The Largest Mortgage Relief Obligations Falls Short | Ben Hallman | Posted 08.29.2012 | Business

The five major banks that signed a landmark national mortgage settlement in March have been slow to deliver $10 billion in promised debt relief, accor...

Ben Hallman

Banks Continue Mortgage Abuses, So U.S. Proposes New Rules | Ben Hallman | Posted 08.10.2012 | Business

NEW YORK -- In the latest effort by a federal regulator to force the mortgage industry to stop treating desperate homeowners like vagrants looking for...

State Using Money Intended For Homeowners To Lure Corporations

Posted 06.18.2012 | Business

Another state is using the money set aside to help struggling homeowners to do something else besides help struggling homeowners. Georgia is using...

Ben Hallman

Terrified Homeowner Faces $200,000 Bill At Age 100 | Ben Hallman | Posted 06.12.2012 | Business

If 76-year-old Gloria Schrager lives to be 100, she will get the worst birthday present ever: a bill from JPMorgan Chase for $199,052. Schrager was...