Homeowners challenging lenders’ right to collectSept. 02– Seven years after the meltdown of the subprime mortgage market, New Jersey continues to be a hotbed of home repossessions by lenders, resulting in reams of foreclosure-fraud and improper-debt-collection complaints that mainly target intermediaries known as mortgage servicers. In a federal lawsuit filed in Newark in May against Bank of America and…
Foreclosures prompt lawsuits against debt collectors in N.J.Seven years after the meltdown of the subprime mortgage market, New Jersey continues to be a hotbed of home repossessions by lenders, resulting in reams of foreclosure-fraud and improper-debt-collection complaints that mainly target intermediaries known as mortgage servicers.
Bank of America’s $17 billion settlement unlikely to help struggling homeownersBank of America will pay almost $17 billion for its role in the 2008 housing crisis. But, consumer advocates argue that Bank of America’s historic settlement is unlikely to help homeowners hurt by the crisis.
Bank of America Settlement Ends Mortgage Crisis Lawsuits? Not So FastWhile some observers have suggested that Bank of America’s big settlement with the federal government, BofA to Pay $16.65 Billion in Historic Mortgage Settlement, marks an end to the raft of lawsuits over the mortgage crisis which spawned the financial crisis of 2008-2009, a U.S. circuit court ruling suggests otherwise.
Banksters win again: BoA settlement with US govt allows Wall St fraudsters to ‘act with impunity,’ critics sayWhile the US government touted its “record” settlement reached this week with Bank of America for mortgage fraud that helped fuel the 2008 recession, the details of the agreement indicate yet another slap on the wrist for an offending Wall Street titan.
Who Is Angelo Mozilo? Former Countrywide Exec To Face Civil Case Amid Bank Of America SettlementFederal prosecutors are poised to pursue a civil case against Angelo Mozilo, the disgraced Countrywide Financial co-founder, according to multiple sources. Mozilo is widely regarded as the archetype of the corporate misbehavior that led to the 2008 U.S. financial crisis. The civil lawsuit follows a U.S.
Bank Of America Reaches Record SettlementPosted: WASHINGTON (AP) – Bank of America has reached a record settlement of nearly $17 billion to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.
Spencer sues servicerAug. 18– Add Spencer Savings Bank to the legions who have accused Bank of America of shoddy mortgage servicing. According to the lawsuit filed in May and moved last month from state Superiour Court in Hackensack to federal court in Newark, Bank of America took over a servicing agreement with Spencer when it acquired Countrywide in 2008, and assumed massive…
CFPB Files Claim against Debt Collection Lawsuit MillWashington, DC: With consumers and officials fighting back against debt collector harassment , it’s no wonder that there seems to be news every day about another debt collector lawsuit. Many lawsuits allege bill collector harassment of consumers, including calling at unreasonable hours and making repeated phone calls.
Ex A.G.s Mark Shurtleff, John Swallow face civil lawsuit over Bank of America caseSALT LAKE CITY – Already facing multiple criminal charges, former Utah Attorneys General Mark Shurtleff and John Swallow have been sued by a Salt Lake couple over their handling of a lawsuit against Bank of America.
World Socialist Web SiteBank of America reaches $16 billion mortgage fraud settlement By Gabriel Black 9 August 2014 Bank of America (BoA) is finalizing a settlement with the Department of Justice (DOJ) over claims that the bank palmed off worthless mortgages to investors, according to the Wall Street Journal.
Bank of America Offers U.S. Biggest Settlement in History Over Toxic Mortgage LoansAfter months of lowball offers and heels dug in, it took only 24 hours for Bank of America to suddenly cave in to the government, agreeing to the largest single federal settlement in the history of corporate America.
Judge Orders Bank of America to Pay $1.27 Billion in ‘Hustle’ CaseA federal judge in New York ordered Bank of America Corp. to pay $1.27 billion as a penalty for a case involving Countrywide Financial Corp.’s “Hustle” mortgage program. The amount is less than the $2.1 billion that the government was seeking.
Bank of America threatens to take California man’s home, force into foreclosureBrian Dillard is a responsible homeowner. He has a mortgage with Bank of America for his home in the Inland Empire where he lives with his wife and young daughter, and he has never once missed a payment.
Lawsuit Filed Against Georgia Debt Collection ‘Factory’The Consumer Financial Protection Bureau (CFPB) is suing Frederick J. Hanna & Associates, a Georgia-based law firm that specializes in suits against consumers who have outstanding debts owed to banks, debt buyers, and credit card companies. The suit, filed earlier this week in the Atlanta Division of Georgia’s Northern District, says the firm “…operates less like a law firm than a factory.
Consumer Bureau: Debt-Collection Firm Is a Shoddy Lawsuit ‘Mill’The Consumer Financial Protection Bureau sued a major debt collection law firm on Monday, alleging it is a “mill” that produces shoddy, mass-produced credit-card collection lawsuits. The bureau’s claim, filed in federal court in Atlanta, states that Frederick J.