BofA Settles Home Loan Buyback Claims With Fannie, Freddie
Bank of America Corp. is settling some buyback claims on bad home loans sold to Fannie Mae and Freddie Mac as it attempts to separate itself further from one of the of the housing downturn's biggest headaches.
Bank of America Cutting Mortgage Principal
Certain mortgages will be eligible for "principal forgiveness," as a result of settlement with Massachusetts attorney general.
No Pity Party for Big Banks
Study finds predatory lending originated in the same banks that received bailouts. At least 21 of top 25 subprime lenders received bailouts through ownership, credit agreements or purchases of loans for securitization.
If any economic environment could put the theory of the "rational economic man" to the test, surely this would be one. At the end of...
Moody's Lowers Countrywide Debt Rating
Two days after the largest provider of home mortgages in the U.S., Countrywide Financial, announced that a full 1% of its home loans were in foreclosure, the company got more bad news on August 16 from a ratings agency. Moody's Investors Service downgraded the senior debt ratings of Countrywide Financial...