CRE Lending at Failed Bank Focus of FDIC Lawsuit
Former directors and executives of Bradford Bank are accused in federal lawsuit of disregarding prudent lending practices on commercial real estate loans.
Wells Fargo to Appeal Angry Judge's Decision
Wells Fargo & Co. has indicated that it will appeal a decision by a New Mexico judge that will cost it more than $3 million because of how it applied life insurance proceeds to a mortgage.
Winning Streak Continues for MERS in Recording Fee Cases
In the war between numerous counties across the country and the Mortgage Electronic Registration Systems Inc., MERS is winning.
Bankruptcies Rise 2 Consecutive Months
Although consumer bankruptcy filings have fallen from a year ago, they have increased two months in a row on a month-over-month basis.
PNC Among Several Lenders Targeted by DOJ
The PNC Financial Services Group has become the third financial institution in the past week to disclose that it is being investigated by the U.S. Department of Justice.
Secondary Legal Actions Pile Up at SunTrust
Over the past few months, SunTrust Banks Inc. has been hit with a lawsuit and agreed to a settlement on loans it originated and sold. Now it faces a government investigation.
Ocwen Continues Growing Mortgage Servicing Portfolio
Ocwen Financial Corp. continued increasing the size of its residential loan servicing portfolio. Also moving up were pre-tax earnings.
Risk of Mortgage Fraud Declines
Lenders faced less risk of mortgage fraud during the final three months of 2013. But on multi-unit properties, borrowers were over three times more likely to lie about occupancy than on single-unit transactions.
FHFA Reaches Another Non-Agency MBS Settlement
The regulator of Fannie Mae and Freddie Mac has nailed down another settlement from lawsuits it filed over misleading statements on mortgage-backed securities the two firms purchased.
Wells Cuts Estimate for Legal Expenses
Wells Fargo & Co. is lowering its estimate of litigation expenses. But the amount of the reduction pales in comparison to its biggest rival.