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Bank of America pays $108 million to settle latest case against troubled Countrywide unit

Struggling homeowners who were overbilled by two Countrywide Financial subsidiaries for services such as lawn care and home inspections at t

Excerpts from this story referencing "Mortgage":

"… $28 million settlement with Bear Stearns Cos., LLC and its subsidiary, EMC Mortgage Corp. in 2008.For Countrywide, though, the sum is a relative drop in the b …"

FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy

By Michael Hudson

Republicans insist that Fannie Mae and Freddie Mac "were the main cause of the nation's current financial turmoil” but a look at the data sh

Excerpts from this story referencing "Mortgage":

"… he same risks that Wall Street’s Mortgage-backed securities machine did. Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to b …"

"… eading this charge is just absurd,” says Guy Cecala, publisher of Inside Mortgage Finance, an authoritative trade publication. “Fannie and Freddie have al …"

"… Critics of the primer counter that Countrywide Financial Corp., Ameriquest Mortgage, and other aggressive lenders made dicey Mortgages not because of governme …"

"… et securities underpinned by subprime and Alt-A loans, according to Inside Mortgage Finance.That’s a big chunk, but still not enough to make the case that F …"

Data shows Deutsche Bank was key patron of questionable mortgage lenders

By Michael Hudson

Data shows Deutsche Bank was key patron of questionable mortgage lenders

Excerpts from this story referencing "Mortgage":

"… ities, which were underpinned by home loans from subprime giant Ameriquest Mortgage, were, quite simply, “crap.”For U.S. Senate investigators, the email i …"

"… Citigroup acquired its loan-servicing unit and its sister company, Argent Mortgage.Ameriquest wasn’t the only lender with a questionable pedigree that Deut …"

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Claims of high-pressure sales, fraud at odds with Quicken Loans’ straight-shooting image

By Michael Hudson

Quicken Loans, the giant mortgage lender founded by Cleveland Cavaliers owner Dan Gilbert, goes on trial Tuesday in Detroit to face allegati

A peek into the art of mortgage duplicity

By Michael Hudson

In many of Ameriquest Mortgage’s far-flung sales branches, employees outfitted break rooms or spare cubicles with the tools they needed to c

16 cents on the dollar: Doing the math on Mozilo settlement

By Michael Hudson

In the end, Angelo Mozilo settled for pennies on the dollar. ...
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Main Street or Wall Street?

By Michael Hudson

In arguing against tougher regulation of car dealers, Kansas Republican Sen. Sam Brownback insisted they didn’t belong in the broad financia

WaMu bank executives aware of rampant fraud

By David Heath

WaMu bank executives aware of rampant fraud but failed to act

Excerpts from this story referencing "Mortgage loan":

"… acked securities. In 2003, Washington Mutual halted the sale of Long Beach Mortgage loans to Wall Street in 2003 and sent in a legal team for three months to try t …"

FDIC sits on potential 50 lawsuits as it tries to reach settlements

In the more than two years since Lehman Brothers went bust, the Federal Deposit Insurance Corp. has shuttered more than 250 banks, but has s

Leaders of the nation’s No. 1 subprime lender charged by the SEC

By Kat Aaron

Angelo Mozilo, founder and former CEO of Countrywide Financial — the No. 1 subprime lender in America, according to a Center for Public Inte

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