- Bloomberg | Bank of America Said to Offer MBIA Settlement in Defective-Mortgage Suit
- MBIA Insurance Corporation v. Bank of America Corp., Countrywide Financial Corporation, Countrywide Home Loans, et. al.
- MBIA Insurance Corp. v. Countrywide Home Loans Inc | BofA Loses Ruling Against MBIA in Fight Over Loans
Apr
13
Judes Tells Bank of America CEO Brian Moynihan He Must Testify in MBIA Lawsuit
Bank of America CEO Moynihan must testify in MBIA lawsuit: judge (Reuters) – A New York judge has ruled that Bank of America (BAC.N) CEO Brian Moynihan must testify in a lawsuit brought by bond insurer MBIA Inc.(MBI.N) which claims the bank fraudulently induced it to insure risky mortgage-backed securities. The judge said Moynihan could … Read more
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Apr
11
NY AG Eric Schneiderman Pushes Objection to BofA $8.5 Billion Mortgage Pact
NY Pushes Objection to BofA $8.5 Billion Mortgage Pact (Reuters) – Bank of America Corp’s proposed $8.5 billion mortgage bond settlement received fresh opposition on Tuesday from New York’s attorney general, who said the accord appears unfair to investors who may deserve to recover more. Eric Schneiderman, the attorney general, filed papers on Tuesday asking … Read more
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Apr
11
NY AG Eric Schneiderman Pushes Objection to BofA $8.5 Billion Mortgage Pact
NY Pushes Objection to BofA $8.5 Billion Mortgage Pact (Reuters) – Bank of America Corp’s proposed $8.5 billion mortgage bond settlement received fresh opposition on Tuesday from New York’s attorney general, who said the accord appears unfair to investors who may deserve to recover more. Eric Schneiderman, the attorney general, filed papers on Tuesday asking … Read more
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Apr
11
NY AG Eric Schneiderman Pushes Objection to BofA $8.5 Billion Mortgage Pact
NY Pushes Objection to BofA $8.5 Billion Mortgage Pact (Reuters) – Bank of America Corp’s proposed $8.5 billion mortgage bond settlement received fresh opposition on Tuesday from New York’s attorney general, who said the accord appears unfair to investors who may deserve to recover more. Eric Schneiderman, the attorney general, filed papers on Tuesday asking … Read more
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Apr
05
KABOOM | Bank of NY Mellon Must Face Lawsuit on Countrywide
Bank of NY Mellon must face lawsuit on Countrywide April 3 (Reuters) – A federal judge rejected Bank of New York Mellon Corp’s bid to dismiss a lawsuit by investors over its role as trustee for mortgage-backed securities that led to an $8.5 billion settlement by Bank of America Corp. U.S. District Judge William Pauley … Read more
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- Mortgage Fraud | Bank of America, Bank of New York Mellon, Countrywide Home Loans Servicing, Law Offices of David Stern, Cheryl Samons
- New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America’s Mortgage Deal
- BAM! | US Judge Takes $8.5 Bln BofA Deal from State Court in Bank of New York Mellon vs Walnut Place
Apr
05
KABOOM | Bank of NY Mellon Must Face Lawsuit on Countrywide
Bank of NY Mellon must face lawsuit on Countrywide April 3 (Reuters) – A federal judge rejected Bank of New York Mellon Corp’s bid to dismiss a lawsuit by investors over its role as trustee for mortgage-backed securities that led to an $8.5 billion settlement by Bank of America Corp. U.S. District Judge William Pauley … Read more
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- Mortgage Fraud | Bank of America, Bank of New York Mellon, Countrywide Home Loans Servicing, Law Offices of David Stern, Cheryl Samons
- New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America’s Mortgage Deal
- BAM! | US Judge Takes $8.5 Bln BofA Deal from State Court in Bank of New York Mellon vs Walnut Place
Mar
12
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Recording Fee Suit
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Mortgage Suit Mortgage Electronic Registration Systems Inc. and Bank of America Corp. asked a court to dismiss a lawsuit brought by Texas counties accusing MERS of filing false claims in property records. The counties allege Merscorp Inc.’s MERS was established by lenders including Bank of … Read more
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Mar
12
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Recording Fee Suit
Bank of America, MERS Ask Court to Dismiss Texas Counties’ Mortgage Suit Mortgage Electronic Registration Systems Inc. and Bank of America Corp. asked a court to dismiss a lawsuit brought by Texas counties accusing MERS of filing false claims in property records. The counties allege Merscorp Inc.’s MERS was established by lenders including Bank of … Read more
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Mar
06
Houston’s County Joins Texas Suit Seeking $10 Billion From MERS, Banks
Houston’s County Joins Texas Suit Seeking $10 Billion From MERS, Banks Harris County Texas, which includes the city of Houston, won a bid to join a group lawsuit seeking damages from the Mortgage Electronic Registration Systems Inc., Bank of America Corp. and Stewart Title Co. U.S. District Judge Reed C. O’Connor allowed Harris and nearby … Read more
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Mar
05
State of Nevada v. Bank of America Corp. | U.S. Appeals Court Boots Nevada AG Foreclosure Suit Back To State Court; Rejects BofA’s Attempt To Shop For Friendlier Federal Forum
Court sides with Nevada in BoA foreclosure case * 9th Circuit sends case back to Nevada state court * Lawsuit alleges mortgage abuses against Bank of America By Andrew Longstreth NEW YORK, March 2 (Reuters) – A federal appeals court on Friday granted Nevada’s request to send its lawsuit alleging mortgage modification and foreclosure abuses … Read more
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- State of Nevada vs Bank of America – Nevada Attorney General Sues Bank of America for Deceiving Homeowners
- Amended Complaint | Nevada Wallops Bank of America with Sweeping Suit; Nation-wide Foreclosure Settlement in Peril
- BofA Lawsuit to Stay in State Court | State of Arizona vs. Countrywide, Bank of America, et al
Feb
28
Experienced Robosigners Wanted | JPMorgan, BofA Strain for Qualified Staff to Clear Foreclosures
JPMorgan, BofA Strain for Qualified Staff to Clear Foreclosures JPMorgan Chase & Co. and Bank of America Corp. told regulators they were straining last year to hire and keep enough qualified people who could clear a backlog of foreclosure complaints. JPMorgan, the largest U.S. bank by assets, vowed to expand training after its review found … Read more
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Feb
24
Bank of (sc)America Plays Symbolism
The Market Ticker – Bank Of (sc)America Plays Symbolism This is truly an amusing start to my Friday… Bank of America Corp., the second-largest U.S. lender by assets, will stop selling new home loans to Fannie Mae after a dispute over faulty mortgages. Starting this month, the Charlotte, North Carolina-based company will deliver only loan … Read more
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Feb
24
BofA Halts Routing New Mortgages to Fannie Mae
BofA Halts Routing New Mortgages to Fannie Mae Bank of America Corp., the second- biggest U.S. lender by assets, is stopping the sale of new home loans to government-owned Fannie Mae as a dispute over who should bear the costs for defective mortgages escalates. The bank is cutting off Fannie Mae from loans starting this … Read more
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Feb
24
BofA Halts Routing New Mortgages to Fannie Mae
BofA Halts Routing New Mortgages to Fannie Mae Bank of America Corp., the second- biggest U.S. lender by assets, is stopping the sale of new home loans to government-owned Fannie Mae as a dispute over who should bear the costs for defective mortgages escalates. The bank is cutting off Fannie Mae from loans starting this … Read more
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Feb
21
Corrections Corporation of America (CCA) | Private Prison Company to Demand 90% Occupancy
Private Prison Company to Demand 90% Occupancy The nation’s largest private prison company is offering cash-strapped state governments to buy up their penitentiaries and manage convicted criminals at a cost-savings. But there’s a catch…the states must guarantee that are there are enough prisoners to ensure that the venture is profitable to the company. Corrections Corporation … Read more
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- MBIA Insurance Corporation v. Bank of America Corp., Countrywide Financial Corporation, Countrywide Home Loans, et. al.
- Securities and Exchange Commission v. Bank of America Corporation, Civil Action Nos. 09-6829, 10-0215
- BRIEF OF AMICUS CURIAE STATE OF UTAH AG MARK L. SHURTLEFF | PENI COX vs RECONTRUST COMPANY; BANK OF AMERICA, et al
Feb
19
BofA Said to Freeze Moynihan’s Salary
BofA Said to Freeze Moynihan’s Salary as Stock Awards Decline Bank of America Corp. cut Chief Executive Officer Brian T. Moynihan’s compensation for 2011, granting him no cash bonus and freezing his salary, said a person briefed on the executive’s awards. The bank is holding Moynihan’s salary at $950,000, said the person, who spoke on … Read more
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Feb
17
Nobody Committed Any Crimes (Except Fraud!)
The Market Ticker – Nobody Committed Any Crimes (Except Fraud!) First, MBIA says it has evidence of “widespread mortgage-origination fraud” at Countrywide: Feb 16 (Reuters) – MBIA Inc claimed it has new evidence of “widespread mortgage-origination fraud” at Bank of America Corp’s Countrywide unit, hoping to bolster its $1.4 billion lawsuit accusing that unit of … Read more
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Feb
17
Nobody Committed Any Crimes (Except Fraud!)
The Market Ticker – Nobody Committed Any Crimes (Except Fraud!) First, MBIA says it has evidence of “widespread mortgage-origination fraud” at Countrywide: Feb 16 (Reuters) – MBIA Inc claimed it has new evidence of “widespread mortgage-origination fraud” at Bank of America Corp’s Countrywide unit, hoping to bolster its $1.4 billion lawsuit accusing that unit of … Read more
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Feb
08
Faulty Loans Top $72 Billion as Banks Seek Deal With Regulators: Mortgages
Faulty Loans Top $72 Billion as Banks Seek Deal With Regulators: Mortgages Costs from faulty mortgages and shoddy foreclosures have topped $72 billion at the biggest U.S. banks as they near a settlement of a 50-state probe into the industry’s practices. Wells Fargo & Co., Bank of America Corp., Citigroup Inc. (C), JPMorgan Chase & … Read more
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Feb
04
Fraudclosure Accord Said to Ensure Same Terms for All 50 States
Foreclosure Accord Said to Ensure Same Terms for All 50 States Feb. 4 (Bloomberg) – Lenders including Bank of America Corp. and JPMorgan Chase & Co. and state attorneys general agreed to ensure that states signing a nationwide accord on foreclosures will be entitled to improved terms won later by states that opt out, two … Read more
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Jan
26
Bank of America Impeding Investigation of its Loan Mod Practices by Negotiating Secret Settlements with Borrowers Who Must Agree Not to Criticize the Bank
“The settlement agreement purposefully makes it impossible, legally and practically, for a consumer signing it to come forward, voluntarily and promptly, to provide evidence in this case.” ~ Bank of America Settlements Impede Fraud Probe, Arizona Says Jan. 26 (Bloomberg) — Bank of America Corp. is impeding an investigation of its loan modification practices by … Read more
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- State of Arizona vs. Countrywide, Bank of America, et al – Office of Attorney General Terry Goddard Charges Bank of America with Mortgage Fraud
- BofA Lawsuit to Stay in State Court | State of Arizona vs. Countrywide, Bank of America, et al
- State of Nevada vs Bank of America – Nevada Attorney General Sues Bank of America for Deceiving Homeowners
Jan
13
American Banker | JPM Chase Quietly Halts Suits Over Consumer Debts
JPM Chase Quietly Halts Suits Over Consumer Debts Robo-signing, or the high-volume production of signed legal documents, has been a key element of the governmental and media foreclosure reviews. Chase’s current pullback raises at least the possibility that at least some banks may have documentation problems in other business lines. Academics and attorneys who defend … Read more
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- JPMorgan Chase and Bank of America, Quietly Reducing Principle Balances for Tens of Thousands of Borrowers
- Fraud Anyone? Suits Filed Against Credit Suisse Group AG, Deutsche Bank AG, JPMorgan Chase & Co. and Bank of America Corp
- American Banker | Robo-Signing Redux: Servicers Still Fabricating Foreclosure Documents
Jan
09
Atlanta’s Bank of America Plaza, One of the 10 Tallest Structures in the U.S. Faces Foreclosure
Bank of America building facing foreclosure Atlanta’s Bank of America Plaza is one of the 10 tallest structures in the U.S. And thanks to troubles at its namesake Bank of America Corp. and other tenants, the skyscraper could be one of the tallest foreclosure tales of the financial crisis. News came out recently that the … Read more
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Jan
04
MBIA Insurance Corp. v. Countrywide Home Loans Inc | BofA Loses Ruling Against MBIA in Fight Over Loans
BofA Loses Ruling Against MBIA in Fight Over Loans Bank of America Corp. (BAC) lost a ruling in a court fight against MBIA Inc. (MBI) that will help the bond insurer as it tries to recover losses on home loans made by the bank’s Countrywide Financial unit. MBIA, which says it was duped into guaranteeing … Read more
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Dec
22
Justice Department Reaches $335 Million Settlement to Resolve Allegations of Lending Discrimination by Countrywide Financial Corporation
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, December 21, 2011 Justice Department Reaches $335 Million Settlement to Resolve Allegations of Lending Discrimination by Countrywide Financial Corporation More than 200,000 African-American and Hispanic Borrowers who Qualified for Loans were Charged Higher Fees or Placed into Subprime Loans The Department of Justice today … Read more
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- MBIA Insurance Corporation v. Bank of America Corp., Countrywide Financial Corporation, Countrywide Home Loans, et. al.
- Another Settlement Fail | FDIC Reaches $64 Million Settlement with 3 Former Washington Mutual Executives, Kinda…
- BAM | CA Appeals Court REVERSES Countrywide Class Action Suit Dismissal in DAVID H. LUTHER et al. v. COUNTRYWIDE FINANCIAL CORPORATION et al.
Nov
22
BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance
BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance Bank of America Corp. (BAC) told Fannie Mae it refuses to cooperate with the U.S. mortgage firm’s new stance on loan buybacks, setting the lender up for a potential surge in claims and penalties. The bank is disputing Fannie Mae’s demand that lenders repurchase mortgages … Read more
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Nov
21
WSJ | NY, Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement
Delaware AGs Allowed To Intervene In $8.5B Bank of America Settlement NEW YORK (Dow Jones)–The federal judge presiding over the landmark $8.5 billion settlement between Bank of America Corp. (BAC) and major investors in mortgage-backed securities has allowed the state attorneys general of New York and Delaware to intervene in the case. In a ruling … Read more
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Oct
20
California, AG Harris, Reportedly Subpoenas BofA Over Toxic Securities
California reportedly subpoenas BofA over toxic securities Investigators with the state attorney general’s office have subpoenaed Bank of America Corp. in connection with the sale and marketing of troubled mortgage-backed securities to California investors, according to a person familiar with the probe. The state is trying to determine whether the bank and its Countrywide Financial … Read more
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