Thanks to the few readers who sent in the links about the Fannie/Freddie executives who had civil lawsuits filed against them today - but it doesn't look like they will be facing jail time. Excerpted from the AP: In a lawsuit filed in New York, the Securities and...
Mr. Winston sent along this gracious response today - a must-read: My name is Michael G. Winston. As you were kind enough to write about my legal battles with Bank of America/ Countrywide, I wanted to update you, show you how close you got to the truth and thank you...
Hat tip to Kingside for sending this along, from the WaPo: Iowa Attorney General Tom Miller, who is leading foreclosure settlement negotiations with the nation’s largest banks on behalf of all 50 states, abruptly removed New York Attorney General Eric Schneiderman...
Let's mention the only real perp walk so far - hat tip to AL for sending this latimes.com article: ALEXANDRIA, Va. — An executive convicted of orchestrating a nearly $3-billion fraud as chairman of one of the largest mortgage companies in the U.S. was sentenced...
Hat tip to Kingside for sending this along, from Bloomberg.com: The U.S. Federal Deposit Insurance Corp., receiver for Downey Savings & Loan Association, sued Amerifund Financial Inc. and affiliated individuals in federal court seeking more than $1 million in...
From Nick at the WSJ.com: Banks trying to foreclose on homeowners are hitting another roadblock, as some delinquent borrowers are successfully arguing that their mortgage companies can't prove they own the loans and therefore don't have the right to foreclose. These...
From the latimes.com: California Atty. Gen. Kamala Harris, saying that years of unscrupulous lending still haunts the state, is creating a 25-person task force to target mortgage fraud of any size — from small operations that preyed on troubled borrowers to...
By Matt Taibbi: Got a chance to meet Josh Rosner (co-author, with Times reporter Gretchen Morgenson, of the new book Reckless Endangerment) last night during an appearance on Eliot Spitzer’s In the Arena. We were brought in to talk about the new investigation of the...
From msn.com Local governments have been complaining for years that foreclosed homes are a blight on cities and counties, and that banks that take back homes often fail to maintain them. The California General Assembly is even considering a bill that would fine...
Hat tip to SM for sending this along from the nytimes.com: Mr. Engle’s is a tale worth telling for a number of reasons, not the least of which is its punch line. Was Mr. Engle convicted of running a crooked subprime company? Was he a mortgage broker who trafficked in...
