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Topic: Banks Reach Settlements
on Mortgages |
Banks Reach Settlements
on Mortgages
New York Times, by Jessica Silver-Greenberg
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Original Article
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Posted By:JoniTx, 1/7/2013 1:32:30 PM
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| Bank of America agreed on Monday to pay more than $10 billion to Fannie Mae to settle claims over troubled mortgages that soured during the housing crash, mostly loans issued by the bank’s Countrywide Financial subsidiary. Separately, federal regulators reached an $8.5 billion settlement on Monday to resolve claims of foreclosure abuses that included flawed paperwork used in foreclosures and bungled loan modifications by 10 major lenders, including JPMorgan Chase, Bank of America and Citibank. About $3.3 billion of that settlement amount will go toward Americans who went through foreclosure in 2009 and 2010, while $5.2 billion will
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Reply 1 - Posted by:
heartlandconservative, 1/7/2013 1:42:33 PM (No. 9103403)
Smoke, mirrors and smelly fertilizer.
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Reply 2 - Posted by:
Redneck In NY, 1/7/2013 1:50:46 PM (No. 9103416)
Something smells here....the Gov forced banks to make risky loans (CRA), then when the bubble bursts, the Gov blamed the banks. The media and low info peoples went along with it, making the banks out to be evil robber barons. NOW, the banks are settling to stave of Gov prosecution?
Something smells here...
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Reply 3 - Posted by:
bubby, 1/7/2013 2:07:11 PM (No. 9103447)
So these people who bought homes with no money down and then defaulted will get paid for what - the humiliation, the inconvenience, for being ignorant, for being unable to balance a checkbook or manage their own finances? Just another form of redistribution of wealth to idiots.
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Reply 4 - Posted by:
JimJr, 1/7/2013 2:19:09 PM (No. 9103471)
Extortion. The "regulators" haven´t found any "smoking guns" and really don´t want to finish going through the mountains of mortgage documents. The bank really doesn´t want them there either (think audit on steroids). So the government says, give us back $10B that we gave you and we´ll go away. And like every "settlement" the details are kept secret. So yes, #2, this stinks.
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Reply 5 - Posted by:
horacer, 1/7/2013 2:44:22 PM (No. 9103512)
Linda Green was unavailable for comment, all 22 of her.
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Reply 6 - Posted by:
lakerman1, 1/7/2013 3:00:50 PM (No. 9103535)
It is much easier to pay the tribute to the federal government than to fight them in court.So the deadbeats who didn´t pay their mortgages, many of whom extracted maximum equity by remortgaging, are rewarded? And those of us who paid our mortgages are laughed at?
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Reply 7 - Posted by:
whyyeseyec, 1/7/2013 3:47:00 PM (No. 9103609)
Meanwhile, Bernanke continues to print money, give it to the banks at 0% interest, then the banks in turn lend that money right back to the govn at 3%. Lending back to the govn is mush less risky than lending to the general public, so the working taxpayers are paying for the govn to rip them off.
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Reply 8 - Posted by:
volksford, 1/7/2013 7:00:32 PM (No. 9103870)
BOA..? no sweat, they will pay it off with our money
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Reply 9 - Posted by:
Heil Liberals, 1/7/2013 9:01:26 PM (No. 9103988)
Just a new tax on the 1%.
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Reply 10 - Posted by:
ColonialAmerican1623, 1/8/2013 12:17:21 AM (No. 9104228)
The comments after the article were very interesting, espcially one that said people are trained to think your neighbors are deadbeats. Truth is many that lost their homes had fixed mortgages and a good downpayment, they just lost their income, then their savings.
Funny that this revelation should come after December 31 and anyone who´s mortgage is writen off will get a 1099 and hefty tax bill.
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Below, you will find ...
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Most Recent Articles posted by "JoniTx"
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Posted By: JoniTx- 5/24/2013 4:16:49 PM
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The lawyer picked Thursday to succeed Patrick Fitzgerald as Chicago´s U.S. attorney is a former federal prosecutor best known for taking on corrupt politicians and powerful institutions such as the University of Notre Dame. Zachary Fardon would take over an office that has made its mark nationally by putting crooked government officials behind bars but increasingly faces pressure to do more to help in the fight against Chicago´s violent street gangs. "Zachary Fardon will be unwavering in his commitment to justice, and I am confident he will serve the people of Illinois with excellence," President Barack Obama said
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Original Article
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Posted By: JoniTx- 5/24/2013 3:42:27 PM
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The Democratic National Committee is accusing the GOP of "making up so-called ´scandals´ out of thin air." In an email to supporters, DNC Spokesman Brad Woodhouse writes that Republicans´ accusations of scandal aren´t legitimate — a claim that´s sure to draw howls from the right."Getting in President Obama´s way has been the top priority for Republicans in Congress since day one. But now they´ve gone too far. They´ve been caught red-handed making up so-called ´scandals´ out of thin air to stir up false rumors of vast ´cover-ups´ happening in the White House," Woodhouse writes. "Did they find a single shred
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Posted By: JoniTx- 5/24/2013 3:23:29 PM
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Country singer Josh Gracin was in Washington on Thursday night to perform at the Ninth Annual Night of Heroes Gala, and as badly as he may have wanted to, he wasn’t allowed talk politics in an interview with The Hill.“I’m very political, almost to where I get in trouble with my record label not to post anything [on Facebook],” the former American Idol finalist said. Gracin’s handler quickly stepped in, nodding to the recording device in my hand and helpfully reminding him that he was on the record.
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Original Article
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Posted By: JoniTx- 5/24/2013 2:48:35 PM
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Posted By: JoniTx- 5/22/2013 10:21:38 PM
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Posted By: FlyRight- 5/23/2013 5:59:27 AM
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Posted By: NorthernDog- 5/23/2013 3:03:53 PM
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President Obama on Thursday nominated Victoria Nuland, a State Department official involved in the editing of the administration´s talking points on Benghazi, to be the next assistant secretary of state for European and Eurasian affairs. Nuland, a career foreign service officer who was until recently State´s top spokesperson, had long been expected to be nominated the post to replace Philip Gordon, who Obama picked to serve as Middle East coordinator for the National Security Council. Nuland´s nomination -- which requires Senate confirmation -- could come under scrutiny from Republicans who see her as playing a central role in shaping
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Houston Chronicle, by Nicole Narea
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Posted By: Dreadnought- 5/23/2013 10:52:02 PM
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Anthony Weiner’s New York mayoral candidacy was only made more improbable today after he revealed that he visited a Houston psychiatric facility following his resignation from Congress in 2011. Haunted by scandal surrounding his sexually explicit online communications with women, the Democratic former congressman sought treatment for his compulsive behavior from mental health professionals at the Gabbard Center. According to its website, the facility provides “3-day outpatient psychiatric evaluation,” particularly to “professionals who are in personal or professional crises.” While Weiner did not disclose
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