Mortgage Broker Headed to Jail
A former mortgage broker in Pennsylvania has been sentenced to more than three years in prison for duping wholesale lenders.
Rock Star Loses Appeal in Lawsuit Against Chase
A federal appeals court has upheld a foreclosure by JPMorgan Chase Bank, N.A., on a home owned by a former classic rock star.
BofA Hit With Huge Penalty Over Countrywide Program
A federal judge has ruled that units of Bank of America Corp. will have to pay a penalty of more than $1 billion for utilizing a program that sacrificed loan quality for loan quantity.
Prison for Former BofA Short Sale Employee
The case of a former Bank of America Corp. employee who was sentenced this week for participating in a short sale fraud scheme was by no means isolated.
Citi Sues Former Owners of Defunct Mortgage Lender
CitiMortgage Inc. is suing the former owners of a defunct mortgage banker alleging that it was defrauded on several loans it acquired from the lender.
PHH Challenging Huge Award in Modification Lawsuit
A PHH Corp. mortgage unit is challenging a huge jury verdict in a lawsuit alleging that it botched a loan modification for a California borrower.
BofA, DOJ Resume Settlement Negotiations
Talks between Bank of America Corp. and the Department of Justice have resumed after recently stalling over a $5 billion gap.
BofA Home Lending Grows, Mortgage Losses Continue
Residential loan production picked up at Bank of America Corp. But legal costs help keep the mortgage business operating in the red.
Former Fannie IT Employee Admits Sabotaging HAMP
A former employee of the Federal National Mortgage Association has admitted to accessing company computers after he was fired and sabotaging the website for loan modifications.
MBS Litigation Spotlight Shifts from Citi to BofA
Now that Citigroup Inc. has put its mortgage securities settlement behind it, all eyes have shifted to Bank of America Corp.