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How One Big Mortgage Company Skirts The Law

Capital and Main | David Dayen | Posted 05.05.2014 | Politics

The following story was reported by Capital and Main and published here in collaboration with The Huffington Post. Lost documents. Incomplete...

It's Business As Usual When It Comes to Foreclosure

Richard Zombeck | Posted 07.02.2013 | Business
Richard Zombeck

Five years after the near complete financial meltdown of the economy in this country, nothing has really changed. Despite the billions of dollars in settlement fees the banks have shelled out, bad press, and loss of trust, it's pretty much business as usual. Actually, it's more blatant and brazen than ever.

William Alden

Goldman Sells Mortgage Unit, Takes Some Heat From Regulators

HuffingtonPost.com | 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 ...

William Alden

Retail Mortgage Business Too Troublesome For Goldman

HuffingtonPost.com | William Alden | Posted 08.06.2011 | Business

Even the geniuses at Goldman Sachs have decided the retail mortgage business is more trouble than it's worth. The firm agreed to sell its mortgage ...

Homeowner Activists: We Told You So

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

The media has finally started covering the foreclosure fiasco. But while some see it as the beginning of a long string of investigative reporting, the rest of us know that it was only a matter of time before the next distraction.

Massachusetts Passes Cornerstone Homeowner and Tenant Protection Bill

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Massachusetts is once again leading the pack in protecting consumers by passing legislation to protect families from getting thrown out of their homes.

Treasury Used Bogus Info in Report to Homeowners

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

According to a recent article in HuffPo by Shahien Nasiripour, "Treasury claims that Fannie Mae, which administers its Home Affordable Modification Pr...

When Facts Aren't on Your Side, Lie Like Banks Do

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Part of the deal when taxpayers forked over nearly a trillion dollars to bail out the banks for their own stupidity and recklessness was that they would make things right. Instead, they've been allowed to continue to pillage with impunity.

Why Homeowners Aren't Being Heard ... Or Why Congressional Hearing Fails to Listen

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

In an effort to squash the administration's proposed plans for home loan modification, the banking and mortgage industry recently sent Chase Home Lending CEO, David Lowman, to Congress.

New Plan To Help Homeowners: Here We Go Again

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Based on the past dismal failures of mortgage-related rescue plans proposed by current and past administrations, it's difficult to believe that the latest set of plans will be any more successful.

Deck Stacked Against Homeowners

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

My wife and I have been involved in negotiations with our loan servicer for over a year now. It seems that the deck, as Arianna points out, is most certainly stacked against us

I Refuse to be Ripped Off

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

[Chase] jacked our interest rates to 29 percent across the board. When I called to ask why the interest had been raised, Josh at Chase told me, "Because we can." So, I stopped paying. Because I can.

Shahien Nasiripour

One Company Responsible For Nearly Half Of All Permanent Mortgage Modifications

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Nearly half of the permanent home loan modifications under the government's plan to help troubled borrowers come from a single company that handles le...

Shaming the Shameless: Why Treasury's Tactics Won't Stop Banks from Misbehaving

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Treasury wants to shame banks into treating customers fairly. But it's a curious approach to reforming an industry that apparently has no shame to begin with.

Bloody Peasants

Richard Zombeck | Posted 05.25.2011 | Politics
Richard Zombeck

Dead Peasant Policies are life insurance policies a company takes out on its employees in order to collect the payoff if and when the employee dies... The concept of peasants isn't foreign or new to me...

Bankruptcy Judges & DOJ Rip Mortgage Companies

ProPublica | Posted 05.25.2011 | Business
ProPublica

Judges have found that major mortgages servicers regularly mess up basic accounting, improperly credit payments and charge unwarranted fees.

Obama's Homeowners' Bailout: Is It Really Making Home Affordable?

Huffington Post | Margo Irvin | Posted 05.25.2011 | Business

The $75 billion "homeowners' bailout" may only delay the inevitable for many who currently face foreclosure.