Judge allows breach claims in lawsuit over mortgage reliefIn a decision issued last week, U.S. District Judge Gerald Pappert preserved those claims in rejecting the mortgage servicers’ motion to dismiss the entirety of a proposed class action. He did throw out claims for unjust enrichment, breach of good faith and violations of the Fair Debt Collection Practices Act (FDCPA).

MERS authority upheld in Wyoming District CourtMERSCORP Holdings announced Monday that a Federal court again ruled it MERS’ favor in a lawsuit brought by a homeowner who challenged MERS’ authority to assign a mortgage. According to MERS, parent of the electronic mortgage registry with the same name, theU.S.

Las Vegas man says mortgage firm, Bank of America defrauded himMichael Bondi is no stranger to foreclosures. He’s a real estate broker in town and has even appeared on HGTV’s “House Hunters Las Vegas” reality show.

Goldman Sachs among banks probed for ‘Treasury rigging’Goldman Sachs is having a rough week on the government-relations front. The Wall Street powerhouse acknowledged Tuesday it is under investigation for possible manipulation of the $13 trillion US Treasurys market, adding to a laundry list of federal and state probes.

Iceland: We jail our bad bankers and you can tooParliament relaxed bank secrecy laws in Iceland to help the prosecutors investigate bank documents without court orders. “Why should we have a part of our society that is not being policed or without responsibility?” Hauksson said. “It is dangerous that someone is too big to investigate – it gives a sense there is a safe haven.”

BofA reaches $335 million settlement over mortgages, MERSThe second-largest U.S. bank disclosed the accord in its quarterly report filed on Friday with the U.S. Securities and Exchange Commission. It said it set aside enough reserves for the settlement as of June 30, and that final documentation and court approval are still needed.

What to do about big banks?Giant Wall Street banks continue to threaten the well-being of millions of Americans, but what to do? Bernie Sanders says break them up and resurrect the Glass-Steagall Act that once separated investment banking from commercial banking. Hillary Clinton says charge them a bit more and oversee them more carefully.

Who Knew Kleptocracy Could Be This Fun!?Guest author Brent Russ is an electrical engineer who specializes in automation, process control, and energy efficiency. He is the Director of E.S.T.E.S., a non-profit enterprise dedicated to educating professionals regarding the implementation and integration of energy saving technologies.

UPDATE 2-Barclays, Wachovia to pay $378 mln to settle U.S. mortgage claimsBy Dena Aubin NEW YORK Oct 19 British bank Barclays Plc and U.S. bank Wachovia, now part of Wells Fargo & Co , will pay a combined $378 million to resolve claims over toxic mortgage-backed securities sold to now-failed credit unions, a U.S. credit union regulator said on Monday.

The Government Is Selling Thousands of Homes to Hedge Funds Without Their Owners’ KnowledgeWhen the Federal Housing Administration takes over a mortgage, homeowners often have little say about what happens next. Please consider disabling it for our site, or supporting our work in one of these ways Subscribe Now > Julius Uwansc was in trouble with his mortgage after refinancing in 2009, just after the real estate bubble popped.

Bank of NY Mellon sued by U.S. regulator over $2 billion in soured mortgagesIn a complaint filed in Manhattan federal court, the Federal Deposit Insurance Corp, which sued in its capacity as receiver for the former Guaranty Bank, said it suffered more than $440 million in losses when it sold the securities in March 2010.

Utah Revives BofA Foreclosure Fight Tied to Corruption CaseUtah’s attorney general revived a potential billion-dollar battle with Bank of America Corp. over foreclosure practices after two of his predecessors were charged with corruption for abandoning the fight. The lawsuit is deja vu for U.S. District Judge Bruce Jenkins, who last week allowed Utah Attorney General Sean Reyes to join a homeowner’s case accusing Bank of America unit ReconTrust Co.

Bank Of America Made $204 Million Because It Sold Bad Mortgages More Than 6 Years AgoBank of America brought in $22.3 billion in revenue in the second quarter. Its profit — $5.3 billion — was almost double compared to this time last year, CEO Brian Moynihan said, because expenses were lower and the bank made more loans and originated more mortgages amid an improving U.S.

HSBC must face lawsuit over failed credit unions – Business Insurance(Reuters) – A federal judge rejected HSBC Holdings P.L.C.’s bid to dismiss a U.S. lawsuit claiming that its failure to perform its duties as trustee for $2.37 billion of residential mortgage-backed securities contributed to the downfall of five federal credit unions.U.S. District Judge…

Bank of America to pay Vermont $1.25 million foreclosure settlement – VTDiggerBank of America will pay the state of Vermont $1.25 million to settle a lawsuit that alleged that the company violated the state’s foreclosure laws even after it settled a high profile case with the federal government. Vermont will receive $1 million for dropping the legal claim, paying legal expenses and other fees.