'Zombie' homes haunt Florida neighborhoods

By Alison Fitzgerald and Jared Bennett

Neighborhoods devastated by thousands of abandoned homes as banks fail to follow through on foreclosures.

Excerpts from this story referencing "bank":

"… 5-year-old mother of three fell behind on her payments. When Young got the bank’s letter, she didn’t fight. “They said foreclosure, so we just up a …"

"… willing to invest in fixing them up because, with the mortgage unpaid, the bank can always come back and foreclose again. By cherry-picking which foreclo …"

"… By cherry-picking which foreclosures they complete and which they ignore, banks are saddling individual borrowers with a permanent, inescapable debt whil …"

"… t afford the mortgage. Young doesn’t want the house back. She wants the bank to take it, and write off her debt, exactly what she thought they’d done …"

Homeowners steamrolled as Florida courts clear foreclosure backlog

By Alison Fitzgerald

Why are Florida's courts rushing to clear more than 700 foreclosure cases per day?

Excerpts from this story referencing "bank":

"… unty Courthouse she refused to delay foreclosure trials in cases where the banks and homeowners together requested extra time. Lewis’ manner may be bru …"

"… clear the court dockets, largely by awarding tens of thousands of homes to banks. “The state’s entire court system has been compromised,” says Matt …"

"… used on clearing the court system of cases and cutting the time it takes a bank to foreclose. What began as an effort by the Florida Legislature and judi …"

"… ds of families out of houses and turning the foreclosed properties over to banks and mortgage servicers to maintain and sell into an already swamped marke …"

Subprime lending execs back in business five years after crash

By Daniel Wagner

Executives from all of the top 25 subprime lending firms are working in the mortgage business five years later.

Excerpts from this story referencing "finance":

"… into the system" Cecala says, as lenders permit smaller down payments and finance more investment properties. Riding out the storm After First Franklin clo …"

"… Mortgage and chaired by a former CEO of the government-sponsored mortgage finance giant Fannie Mae. Prospect’s mortgage offerings include interest-only lo …"

"… ket turned. Lehman Brothers, for example, bought BNC Mortgage in 2004 and financed subprime loans offered by other companies. Jim Harrington was a senior vi …"

"… e says, and left the industry during the 2008 crisis. He currently teaches finance at the University of Maryland’s Robert H. Smith School of Business. “ …"

Bear Stearns mortgage executives have plum jobs on Wall Street

By Lauren Kyger and Alison Fitzgerald

Executives from the mortgage finance division that helped sink Bear Stearns have similar jobs at major Wall Street banks.

Excerpts from this story referencing "finance":

"… ide to take risks in these institutions,” said Anat Admati, professor of finance and economics at Stanford Graduate School of Business and co-author of The …"

"… w York. Four years, $29 million Thomas Marano, who led Bear’s mortgage finance division, is perhaps the most telling example. In the past four years he …"

"… only Bear Stearns mortgage executive to land in a similar role in mortgage finance. Jeffrey Verschleiser, who reported directly to Marano as head of asset-b …"

"… lverstein, once a senior managing director at Bear and co-head of mortgage finance,  stayed at JPMorgan for a time after the acquisition and later moved …"

Yellen as Fed chair would be tougher on banks

By Alison Fitzgerald

Janet Yellen, President Obama’s intended nominee for Federal reserve chief, may prove to be tougher on banks.

Excerpts from this story referencing "Louisiana":

"… from 2004 to 2010,” said Linus Wilson, a professor at the University of Louisiana, who studies and writes about bank bailouts. “Her current, long record a …"

Mel Watt enjoys close ties to financial industries

By Alison Fitzgerald

Bank leaders, PACs made prospective housing agency leader a top recipient of campaign cash.

Excerpts from this story referencing "FHFA":

"… egan defaulting on their loans. DeMarco, who has been interim chairman of FHFA since 2009, has been criticized by the Obama administration, members of Co …"

Top 5 super PAC donors by industry

Investing, casinos top list thanks to billionaires' donations.

Excerpts from this story referencing "Freddie Mac":

"… ts to preserve the mortgage interest deduction, restructure Fannie Mae and Freddie Mac and raise the cap for credit union lending and Fannie- and Freddie-backed …"

Daily Disclosure: Realtors spend big on California race

By Rachael Marcus

National Association of Realtors backs Rep. Brad Sherman in a big way

Excerpts from this story referencing "Freddie Mac":

"… s of interest to realtors, including disaster insurance and Fannie Mae and Freddie Mac.Sherman sponsored a bill in 2011 to amend the Flood Insurance Reform Act, …"

Bailed-out banks, Freddie Mac, AIG gave $6 million to 2008 conventions

By John Dunbar and Michael Beckel

Corporate donors to 2008 party conventions included financial institutions bailed out by government.

Excerpts from this story referencing "campaign finance rules":

"… illion taxpayer bailout.The donations are possible thanks to a loophole in campaign finance rules that allow corporations, unions and wealthy individuals to give unlimited …"

Dissent among Republicans over defense spending

By Aaron Mehta

Grover Norquist opposes Romney plan to increase the military budget

Excerpts from this story referencing "Republican presidential candidate":

"… ntly consumes about half of the discretionary federal budget — with Republican presidential candidate Mitt Romney going in one direction and some Republican lawmakers and  …"

Report: Countrywide won influence with discounts

By The Associated Press

Subprime lender Countrywide bought influence of Washington elite with mortgage discounts

Excerpts from this story referencing "Bank of America":

"… volume of Countrywide's subprime mortgages. Countrywide was taken over by Bank of America in January 2008, relieving the financial services industry and regulators …"

"… er chairman of the Oversight Committee. Towns issued the first subpoena to Bank of America for Countrywide documents, and current Chairman Darrell Issa, R-Calif., su …"

"… re documents. The committee said that in responding to the Towns subpoena, Bank of America left out documents related to Towns' loan.—Rep. Elton Gallegly, R-Calif. …"

Watchdog groups call on Newt Gingrich to disclose all health center clients

By Fred Schulte and Joe Eaton

Public interest groups demand health center's client list

Excerpts from this story referencing "Freddie Mac":

"… ontract that paid $25,000 a month for services to troubled mortgage holder Freddie Mac, and has insisted nothing he did there constituted lobbying. But Romney ha …"

Raging against the foreclosure machine

By Ben Hallman

Automated foreclosure process creates errors, stifles modifications and enrages helpless homeowners

Excerpts from this story referencing "bank":

"… d it had no record of any payment being received. The Grays have submitted bank statements that appear to show GMAC returning the $768 payment — several …"

"… le accounting mistakes say that the servicers — often, an arm of a major bank — are unable or unwilling to help them resolve even the most basic probl …"

"… p;“I worked on it nearly a year and it didn’t do me any good.” Most banks and independent loan servicers now say that they have cleared the decks o …"

"… w make it much easier for homeowners to easily resolve their problems with bank representatives. Federal regulators also say they have done their part: l …"

Gingrich's health center was power player in a host of Washington policy debates

By Fred Schulte and Joe Eaton

Gingrich's Center for Health Transformation was power player on host of issues

Excerpts from this story referencing "Freddie Mac":

"… ontract that paid $25,000 a month for services to troubled mortgage holder Freddie Mac, and has insisted nothing he did there constituted lobbying. But Romney ha …"

"… .”While much of the controversy has swirled around Gingrich’s work for Freddie Mac, the for-profit Center for Health Transformation signed up hundreds of hea …"

FactCheck.org's guide to the New Hampshire debates

By FactCheck.Org

FactCheck.org lays out the busy weekend for Republican presidential candidates leading up to N.H. primary

Excerpts from this story referencing "Freddie Mac":

"… hand, Gingrich did not earn “$30,000 an hour” as a consultant to Freddie Mac. His consulting firm earned $25,000 to $30,000 a month from the …"

Fraud and folly: The untold story of General Electric’s subprime debacle

By Michael Hudson

High-paid employees of fraud-plagued, GE-owned WMC Mortgage included ex-porn star, strippers

Excerpts from this story referencing "Freddie Mac":

"… as investment properties. GE denies the allegations, and insists that Freddie Mac, which invested in the securities, made out well on the deals.On the recor …"

FACT CHECK: White House brings partisan slant into payroll tax explainer

By FactCheck.Org

In a new explainer video, White House displays ‘Washington Monument syndrome’

Excerpts from this story referencing "Freddie Mac":

"… of the current rate of $85,000, increasing fees charged by Fannie Mae and Freddie Mac to some lenders, reducing unemployment benefits, and freezing federal pay …"

Pro-Romney group trashes Gingrich in new ad

By Aaron Mehta and Peter H. Stone

An outside spending group that supports Mitt Romney produces slick ad slamming Iowa poll leader Gingrich

Excerpts from this story referencing "Freddie Mac":

"… $300,000 for ethics violations while in Congress; taking $1.6 million from Freddie Mac just before "it helped" cause the financial meltdown; and accepting $ …"

Gingrich ventures took in more than $105 million over a decade's time

By Peter H. Stone

Proceeds from various ventures added up to more than $105 million

Excerpts from this story referencing "Freddie Mac":

"… sulting services. The Gingrich Group also had many other clients including Freddie Mac, which paid it almost $2 million for several years of consulting work.Some …"

FACT CHECK: GOP candidates misstate taxes and federal government pay

By FactCheck.Org

Republican debate featured mistakes on how many people pay taxes and how much they spend on tax prep

Excerpts from this story referencing "Herman Cain":

"… nd included eight candidates: Minnesota Rep. Michele Bachmann, businessman Herman Cain, former House Speaker Newt Gingrich, former Utah Gov. Jon Huntsman, Texas …"

Obama housing plan gets faint praise

The president outlined a new plan to help homeowners, GOP presidential candidates rely on free market

Excerpts from this story referencing "Freddie Mac":

"… e worth.HARP allows borrowers with loans owned or insured by Fannie Mae or Freddie Mac to apply for an interest rate reduction.While the plan to expand HARP is n …"

"… e first half of 2010 saved on average $125 to $150 each month according to Freddie Mac.The Republican candidates for president said at a debate in Las Vegas last …"

"… .To qualify for the expanded HARP program, the home must have been sold to Freddie Mac or Fannie Mae on or before May 31, 2009. The borrower must be current on t …"

GOP candidates in foreclosure capital say government not the solution to crisis

By Michael Hudson

Republican candidates in Nevada say foreclosure mess will go away if government stays out of it

Excerpts from this story referencing "Freddie Mac":

"… the housing crisis on government-chartered mortgage giants Fannie Mae and Freddie Mac, which have been taken over by the government and bailed out by taxpayers. …"

"… ublicans in the U.S. House of Representatives, has said: “Fannie Mae and Freddie Mac were the main cause of the nation’s current financial turmoil.” The fe …"

Mortgage industry tanks, fraud continues at Countrywide

By Michael Hudson

As the mortgage industry melted down, fraud investigator kept up the pressure, soon lost her job

Excerpts from this story referencing "Angelo Mozilo":

"… roup of 22 big mortgage investors. It also helped Countrywide’s founder, Angelo Mozilo, settle charges that he’d added $141.7 million to his personal fortune t …"

Obama's new plan for underwater mortgages may be too little too late

By Michael Hudson

Obama orders Fannie and Freddie to work with borrowers; earlier programs helped only a few

Excerpts from this story referencing "Freddie Mac":

"… e president’s economic team to work with government-owned Fannie Mae and Freddie Mac, along with banks and regulators, to “help more borrowers benefit from t …"

"… r, by keeping borrowers in their homes and reducing risk to Fannie Mae and Freddie Mac,” the fact sheet says. Consumer advocates and lawyers representing home …"

"… available for borrowers whose home is owned or guaranteed by Fannie Mae or Freddie Mac. To qualify, a homeowner must have made a year’s worth of payments no mo …"

Investor protections imperiled by Wall Street, GOP assault on financial reform

By John F. Wasik

Wall Street and GOP assault consumer protections in Dodd-Frank reforms

Excerpts from this story referencing "Freddie Mac":

"… l markets and government-sponsored housing enterprises like Fannie Mae and Freddie Mac. The subcommittee’s chairman, Republican Scott Garrett of New Jersey, o …"

Borrower Nightmares: Disabled homeowner alleges broker, bank sold her mortgage she couldn’t afford

By Ben Hallman

Queens woman fights foreclosure on her childhood home

Excerpts from this story referencing "money lenders":

"… ers who otherwise would have lost their homes or been forced to go to hard money lenders,” the bank said. Under the Community Reinvestment Act, banks are requir …"

As housing crisis festers, mortgage servicers spend $8 million on political contributions

By Michael Hudson and Aaron Mehta

Mortgage servicers pony up $8 million in political donations as housing crisis festers

Excerpts from this story referencing "campaign finance data":

"… other political action committees, according to an iWatch News analysis of campaign finance data. (Ally Financial hasn’t given money during that period to campaigns …"

2012 election + weak housing market = new White House policies?

By Shirley Gao and Julie Vorman

The fast-approaching 2012 election has the Obama administration eyeing new policies to breathe life into housing market

Excerpts from this story referencing "Walter Mondale":

"… k, “Reckless Endangerment,” which traces how a former aide to Democrat Walter Mondale became chairman of Fannie Mae in 1991 and transformed the mortgage giant i …"

Consumer advocate Warren returns to ring for more sparring with GOP-led panel

By Julie Vorman

Elizabeth Warren returns to GOP-led hearing for more sparring over consumer agency

Excerpts from this story referencing "director":

"… ne nominated for the job – unless the CFPB is restructured to weaken the director’s authority."We should never entrust a single person with this much powe …"

"… he top Republican on the Senate Banking committee, recently said. The CFPB director is supposed to have a five-year term, much like the head of the Federal De …"

"… ng conducting examinations of big banks. However, until it has a confirmed director, the bureau is generally restricted from proposing new regulations for pay …"

Financial reform this week: How to handle a Too Big To Fail bank near collapse

By Julie Vorman

FDIC panel tackles tools needed to dismember biggest banks

Excerpts from this story referencing "Freddie Mac":

"… Employees’ Retirement System (CalPERS), Glass, Lewis & Co. LLC, and Freddie Mac.Panel member Anat Admati of Stanford University recently rallied other inf …"

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