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.
Head of school Miguel Brito says they got several anonymous gifts totaling $22 million, paying off the mortgage.
Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.
Schneiderman is seeking records from three major Wall Street banks as part of a broad investigation into the mortgage crisis that fueled the recession.
The nation’s financial regulators are looking to prevent another housing boom and bust by encouraging safer home loan lending and borrowing practices.
State Supreme Court Chief Justice Stuart Rabner made a splash in December when he ordered six of the nation’s biggest mortgage lenders into court to show why their foreclosure operations shouldn’t be suspended over reports of widespread irregularities.
You can have your cake and eat it, too!
Many banks are dealing with the loss of money from credit card regulations by finding new fees that customers could soon face.
Mack has not been charged with anything and there are no indications that he or his campaign is being investigated.