Mortgage Press

Big Bank’s Legal Departments Ready for Another Round of Lawsuits

… Bank of America Corp. (BAC) is among a group of lenders that may face a wave of new lawsuits claiming cash-strapped counties were cheated out of millions of dollars by a system used for more than a decade to register mortgages. Dallas County District Attorney Craig Watkins said state attorneys general and county officials [...]

Barney Frank Sends Warning to Mortgage Industry About Dodd-Frank Revolt

US Representative Barney Frank, one of the authors of a sweeping financial overhaul bill, warned banking executives this morning that mortgage lenders must not return to extending loans to risky home buyers.Click to continue

Moody’s Downgrade of Mega Lenders Contributes to Thursday Wall Street Tailspin

Moody’s Investors Service has downgraded the ratings of three of the nation’s top lending institutions, Bank of America, Wells Fargo and Citigroup, sending the stock market into a tailspin, as all three indexes closed down more than three percent and down more than 450 points. Moody’s wasn’t the only culprit in today’s tailspin, as fear of the [...]