The settlement announced Tuesday requires JPMorgan to pay $9 billion and provide $4 billion in consumer relief, including principal reductions and other mortgage modifications for homeowners facing foreclosure.
Bank of America was found liable for fraud in a civil case the government said captured the frenzied pursuit of profits at all costs just before the economy collapsed.
Christie made the announcement Tuesday in Little Ferry, the site of widespread flooding from the Hackensack River after the storm hit last October.
Similar action was being sought against Bank of America but has been suspended after the bank and the AG reached an agreement.
Shaun Donovan, the U.S. Secretary of Housing and Urban Development, said that families who are rebuilding and have FHA loans can put off making their mortgage payments for another 12 months.
Most tax filers are getting a refund after they file their 2012 return. With the average refund running about $3,000, a lot of people will be thinking about what to do with the extra cash.
New York Gov. Andrew Cuomo on Wednesday announced a state review of banks and mortgage lenders who were allowed to delay payments as a result of damage from Superstorm Sandy, only to be asked to pay it all back in one lump sum.
Following Sandy, banks allowed homeowners to delay mortgage payments for three to six months, but that window is set to expire.
Mortgage rescue scams are on the rise on Long Island, where housing officials are issuing an alert.
Carmen Wong Ulrich, finance expert and author of “The Real Cost of Living,” sat down with TV-55’s John Elliott and Lisa Kerney to answer the 5 big questions people have about money
One of the victims, an Air Force veteran and former New York City firefighter, said a scammer took his personal information and collected $351,000.
New York and New Jersey will receive upwards of $800 million each while Connecticut will receive $119 million for struggling homeowners, WCBS 880’s Marla Diamond reported.
Two former Credit Suisse traders pleaded guilty to conspiracy and signed cooperation agreements Wednesday in a long-running probe of the federal sub-prime mortgage securities market that was expected to result in more arrests.
A New York man convicted of masterminding a $100 million mortgage fraud scheme has admitted trying to order a hit on a key witness in his trial.
The federal government sued one of the nation’s largest privately held mortgage brokers, saying its decade-long fraudulent lending practices cost the government hundreds of millions of dollars and forced thousands of American homeowners to lose their homes.