Bank Foreclosure Scandal

Adding another layer to the phony account scandal, Several hundred protesters marked the bank’s 160th year with a satirical birthday and protesting the bank’s foreclosure practices. (Photo.

Banks in $8.5 bln foreclosure abuse settlement By. and the robo-signing scandal — the practice of assigning bank employees to rapidly approve numerous foreclosures with only cursory glances at.

The bank eventually completed foreclosure on about 400 of them. in addition to the $185 million wells fargo paid over the unauthorized accounts scandal..

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Over roughly the past year, banks have been ratcheting up repossessions of foreclosed homes to the. after the robo-signing scandal rocked the mortgage industry. When bank employees were found to.

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A bankruptcy judge issued a $45 million fine against Bank of America Corp., calling the bank’s treatment of a California couple who fought to save their home "brazen" and "heartless."

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure- gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders.

Homeowners fight back against foreclosure, saying that the lender or servicer has no legal authority to foreclose on their home.. $5.4 million in foreclosure fraud suit against Wells Fargo.

The Foreclosure Settlement Scandal: It’s All About Paying Former Regulators Billions.. The engagement letter between Bank of America and Promontory includes Attachment C, "Promontory’s Conflicts of Interest Policy," a 3-page document. When the Federal regulators that are overseeing.

The banks defrauded investors about the condition of the loans, which led to billions in losses while millions of Americans lost their homes to foreclosure. Three quarters of the loans in question came from Countrywide Financial, which Bank of America acquired in 2009, along with Merrill Lynch.

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A Philadelphia businessman has won a series of court rulings that could clear the way for long-delayed lawsuits seeking more than $70 million against U.S. Bank, which he claims destroyed his.

Florida is still suffering beneath a deluge of home foreclosures. scandal. Foreclosures, Blomquist said, could increase again as banks finish "catching up" with long rosters of distressed loans. In.

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