Bad mortgage settlement includes Ohio (The Cincinnati Enquirer)
6 Oct 2008 at 9:31am
Facing a lawsuit over deceptive mortgage practices, an arm of Bank of America Corp. has agreed to the largest program ever to modify home loans, as part of a settlement with officials in 11 states, including Ohio, just days after the federal government adopted a giant financial rescue package without any relief for distressed homeowners.
Many pieces go flying from mortgage implosion (Dallas Morning News)
5 Oct 2008 at 6:42am
WASHINGTON ? Your taxpayer credit card is on the counter, all set to get the economy moving again. Caveat emptor ? let the buyer beware. The value of the mortgage-backed securities the federal government is set to buy is hard to decipher when the good, the bad and the scary are bundled together.
Bank of America in $8.4 bln settlement to aid mortgage holders (Market Watch)
6 Oct 2008 at 2:36am
Bank of America and a number of U.S. states reach an $8.4 billion accord under which the banking giant will modify troubled mortgages and enable nearly 400,000 Countrywide Financial Corp. clients to keep their homes.
Lender settles mortgage lawsuit (San Diego Union-Tribune)
6 Oct 2008 at 3:05am
Countrywide Financial has agreed to the largest program ever to modify home loans as part of a settlement with officials in 11 states, including California. Countrywide, the nation's largest lender and loan servicer that was recently acquired by Bank of America, had been sued by the states over what they said were predatory lending practices.
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