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Mortgage ‘robo-signing’ continues - Tue, 19 Jul 2011 PST Tuesday, July 19, 2011 @ 6:22AMMortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures. County officials in at least three states say they have received thousands of mortgage documents with questionable signatures since last fall ...
Special report: Banks continue robo-signing Tuesday, July 19, 2011 @ 6:21AMNEW YORK/IMMOKALEE, Florida (Reuters) - America's leading mortgage lenders vowed in March to end the dubious foreclosure practices that caused a bruising scandal last year.
U.S. Stock-Index Futures Climb After IBM Lifts Profit Forecast Tuesday, July 19, 2011 @ 5:28AMU.S. stock-index futures rose, indicating the Standard & Poor’s 500 Index will rebound from a three-week low, after International Business Machines Corp. (IBM) and Mosaic Co. (MOS) reported better-than-estimated profit.
Quelle Surprise! The Banks Lied and Robosigning Lives! Tuesday, July 19, 2011 @ 4:10AMWe've heard numerous bank executives swear piously before Congressional hearings that those "paperwork problems" that led major servicers to halt or slow foreclosures on a widespread basis last year were "mistakes". That was already a really big lies, since "mistake" means the practice was not deliberate and was presumably isolated, when in fact robosigning was a widespread, institutionalized ...
RealtyJoin.com Selects Foreclosure.com to Power its Foreclosure Listings Search Tuesday, July 19, 2011 @ 4:04AMAmerica’s number one source for the most up-to-date distressed real estate information to provide national foreclosure listings to the industry's leading interactive social and business networking site. (PRWeb July 19, 2011) Read the full story at http://www.prweb.com/releases/freeforeclosure/listingssearchrealtyjoin/prweb8643299.htm
A Big Week for the New Consumer Agency Monday, July 18, 2011 @ 8:42AMEd. Note: Watch President Obama's personnel announcement live at 1:05 PM EDT today on WhiteHouse.gov/live . This is a big week for the Consumer Financial Protection Bureau (CFPB). Today, the President will announce his intent to nominate Richard Cordray to serve as the first Director of the Consumer Financial Protection Bureau . On Thursday, the CFPB makes its transition from a start-up to a ...
Elizabeth Warren: A Big Week for the New Consumer Agency Monday, July 18, 2011 @ 8:00AMThis week is the culmination of two years of hard battles. The President put the Consumer Financial Protection Bureau in his first outline of financial regulatory reform, and he never wavered in his support for it. As a result, the agency has stepped out in the right direction.
PacWest Bancorp Announces Results for the Second Quarter of 2011 Monday, July 18, 2011 @ 8:00AM--Net Earnings of $12.8 Million-- --Net Interest Margin Increases to 5.57%-- --Credit Loss Reserve at 3.52% of Net Non-Covered Loans and 157% of Non-Covered Nonaccrual Loans-- --Noninterest-Bearing Deposits at 36% of Total Deposits and Core at 76%-- --Tangible Common Equity Increases 7.2% or $30.5 million--
Next Week’s Tape: Earnings Galore, Plus Some Housing Data Monday, July 18, 2011 @ 6:11AMEarnings, earnings, earnings and some housing data in the week ahead.
Obama to Pick Former Ohio Attorney General for Consumer Post Monday, July 18, 2011 @ 5:24AMPresident Barack Obama said he will nominate former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau, which opens this week amid continuing political fights about its scope.
Why The Drop In Foreclosures Is Not Good News Monday, July 18, 2011 @ 4:44AMIt sounds like good news: Foreclosure filings declined by 29 percent in the first half of 2011, according to a midyear report by RealtyTrac. But U.S. homeowners just can’t catch a break . The decline isn’t due to a recovering real-estate market, but rather to the fact that shoddy foreclosure practices last fall have led to long processing delays.
Sacramento foreclosure auction nets $4.6M Sunday, July 17, 2011 @ 7:24PMSACRAMENTO - Sacramento area homebuyers Sunday spent $4.6 million on new local area foreclosures as Auction.com auctioned 81 new bank-owned properties.
Foreclosed Anaheim Office Built on Spec Sells for $14M Sunday, July 17, 2011 @ 4:06PMAn Anaheim office built during the boom has traded hands, in Real Estate
Obama picks bank critic Cordray for consumer job Sunday, July 17, 2011 @ 3:51PMWASHINGTON (Reuters) - President Barack Obama on Sunday chose former Ohio Attorney General Richard Cordray to head the new agency charged with protecting U.S. consumers from abusive mortgage lending practices and hidden credit card fees.
Obama Passes Over Warren, Picks Deputy to Lead Consumer Financial Agency Sunday, July 17, 2011 @ 2:42PMPresident Obama nominated Richard Cordray, a former Ohio attorney general and state lawmaker, to run the nascent Consumer Financial Protection Bureau on Sunday.
International Forecaster July 2011 (#5) - Gold, Silver, Economy + More Sunday, July 17, 2011 @ 2:36PMThe following are some snippets from the most recent issue of the International Forecaster. For the full 35 page issue, please see subscription information below.
Foreclosure inventory drops sharply, short sales ramp up Sunday, July 17, 2011 @ 10:15AM"The market is going to be driven by foreclosures for at least another two years," said Randy Brooks of REMAX Advantage in Daphne.
Bank earning reports foreshadow layoffs Sunday, July 17, 2011 @ 12:27AMAfter racking up outsized profits as they emerged from the financial crisis aided by billions in bailout money from taxpayers, Wall Street banks are now in for a tough slog. Write-offs from bad mortgages, a tricky trading environment and a regulatory crackdown mean profits are going to be harder to...
My New Home: Pair sought condo before Realtor invited them to look at houses Sunday, July 17, 2011 @ 12:00AMShort-term pain for long-term gain. That was the strategy Andrew Wallace and Jeffrey DeRamus took when it came to their first home purchase.
Home Sales, Construction Probably Rose: U.S. Economy Preview Saturday, July 16, 2011 @ 11:46PMHome sales and construction in the U.S. probably rose in June from depressed levels as the industry struggled to gain traction in the face of foreclosures, falling prices and rising unemployment, economists said before reports this week.
The Realities of Real Estate: Foreclosure and short sale update Saturday, July 16, 2011 @ 11:41PMIn many parts of Maryland, the housing market is beginning to heal. Especially for the perimeter of Washington, D.C., popular benchmarks like the Case-Shiller Home Price Index have shown consistent improvement for some time now. The D.C. area continues to defy the nation as a whole, recording steady price increases since March 2009. Nevertheless, a robust recovery still remains elusive. The ...
Blog » Movie Cricket Saturday, July 16, 2011 @ 11:22PM(Steve Griffin | The Salt Lake Tribune) Developer Tim Charlwood stands on the property where a proposed development is planned near Huntsville. Paradise lost?
Connelly’s latest courtroom drama heads summer reading list Saturday, July 16, 2011 @ 6:32PMLegal and crime thriller writer Michael Connelly is back on the familiar turf of Los Angeles with his new book The Fifth Witness.
Indian River County courthouse news: July 17 Saturday, July 16, 2011 @ 1:19PMPublic records for Indian River County for the week of July 17.
WILL VRAGOVIC | Times Saturday, July 16, 2011 @ 12:41PMBy Logan Neill, Times Staff Writer Saturday, July 16, 2011 While still far from robust, the economy in Hernando County continued to make small gains during the first half of 2011. Unemployment figures ticked downward slightly. The once-frozen housing market continued its slow thaw. And more companies continued to find Hernando an attractive place to do business. With the county's unemployment ...
Bright spots emerge in Hernando County economy Saturday, July 16, 2011 @ 12:41PMBy Logan Neill, Times Staff Writer Saturday, July 16, 2011 Edwin Romero, 38, frames up the roof over the entry to a new home in Trillium, off County Line Road, on Friday. While still far from robust, the economy in Hernando County continued to make small gains during the first half of 2011. Unemployment figures ticked downward slightly. The once-frozen housing market continued its slow thaw. And ...
Second-Lien Loans May Prompt New Losses for Banks Saturday, July 16, 2011 @ 12:14PMBanks have so far written down only a small portion of their second-lien mortgage loans. As home values in some areas continue to sink, more losses may be in store.
Foreclosures fall: Are ‘robo-signing’ claims affecting Cleveland County? Saturday, July 16, 2011 @ 12:04PMSHELBY — Regina Delicino is earning her master of business administration degree online. Her doctorate is next. But she couldn’t pursue those degrees from the comfort of her bedroom if her family’s Shelby home was foreclosed. Regina...
Survey: Savings sparse Saturday, July 16, 2011 @ 12:16AMExperts advise starting small, setting a clear budget SACRAMENTO, Calif. - It's July: School's out, summer's on ... and the financial surveys are out in full force. Talk about this topic
Experts: Area commercial real estate market poised to improve Friday, July 15, 2011 @ 6:46PMBuilders and developers concurred that, among private industries, medical is the strongest segment, followed by multifamily housing.
Bank of America, Cisco, and Hewlett-Packard All Near 52-Week Lows Friday, July 15, 2011 @ 6:06PMBy teddycx. According to GuruFocus's list of 52-week lows, Bank of America Corp. ( BAC ), Cisco Systems Inc. ( CSCO ), and Hewlett-Packard Co. ( HPQ ) are all traded close to their 52-Week Lows. Read more » »
Utah lawsuit alleges illegal bank of America foreclosures Friday, July 15, 2011 @ 4:46PMBy JENNIFER DOBNER Associated Press SALT LAKE CITY (AP) - A Utah attorney has filed a proposed class action lawsuit against Bank of America and its subsidiaries for allegedly executing tens of thousands of illegal foreclosures statewide. Filed last month in Salt Lake City's 3rd District Court, the lawsuit was brought on behalf of three Utah couples who lost their homes to foreclosure in May and ...
Economic Preview: Latest reports from the epicenter of crisis due Friday, July 15, 2011 @ 3:12PMThe coming week will be dominated by the latest readings on the health of the housing market, which Federal Reserve Chairman Ben Bernanke dubbed the “epicenter” of current economic malaise.
Bank of America Drops Below $10 as Cost of Bad Mortgages Rises Friday, July 15, 2011 @ 1:49PMBank of America Corp., the biggest U.S. lender by assets, fell below $10 a share in New York trading today as concern mounted about the company’s ability to restore profit.
Auctions play vital role in rural Kan. economy Friday, July 15, 2011 @ 3:28AMBECCY TANNER The Wichita Eagle WICHITA, Kan. On hot summer days, the cries of auctioneers can be heard in almost any corner of Kansas. In the midst of bawling cattle, clucking chickens, oinking pigs, estate and land sales, the chants and sing-songs go on. To hear an auctioneer is to listen to another language. Microphone in hand, words sometimes come faster than human ears comprehend. "Dollaring ...
Foreclosures down in Monroe, but it's too early to get hopes up Thursday, July 14, 2011 @ 11:09PMNew home foreclosure cases in Monroe County have dropped by the hundreds, but not all industry insiders believe this means the housing crisis is easing. Some believe lenders have adopted new strategies to deal with defaults.
No headline - matter_of_record Thursday, July 14, 2011 @ 10:59PMDBA/ASSUMED NAMES
JPMorgan bank has surprise gains in Q2 Thursday, July 14, 2011 @ 8:12PMJPMorgan Chase surprised Wall Street with a sharp increase in investment banking income.
Dimon: ’Everybody Is Going to Sue’ Over Mortgages Thursday, July 14, 2011 @ 2:35PMJPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said clashes over faulty mortgages may drag on as investors and regulators demand compensation for soured loans issued at the peak of the housing market.
Personal Finance Daily: How and IRS audit got me and missed you Thursday, July 14, 2011 @ 2:32PMChuck Jaffe, one of our senior columnists and an expert in many areas of personal finance and investment, got audited by the IRS. In his column today, he offers a frank and useful description of why and how it happened.
Mountain Vineyard Christian Fellowship near Covington will have its own home this fall Thursday, July 14, 2011 @ 2:21PMCome fall, when the leaves start turning orange and red, trick or treating, pumpkin carving and the rain distracts the region, Mountain Vineyard Christian Fellowship members will start moving into their new church.
JPMorgan quarterly profit rises, loan book grows Thursday, July 14, 2011 @ 1:49PMNEW YORK (Reuters) - JPMorgan Chase & Co posted a higher-than-expected jump in second-quarter profit as it wrote off fewer bad mortgages and credit card loans.
KB Home Declares Third Quarter 2011 Dividend Thursday, July 14, 2011 @ 1:41PMThe board of directors of KB Home (NYSE: KBH) has declared a quarterly cash dividend of $.0625 per share on the Company's common stock, payable on ...
JPMorgan investment bank has surprise gains in 2Q Thursday, July 14, 2011 @ 1:33PMJPMorgan Chase surprised Wall Street Thursday with a sharp increase in investment banking income at a time when other banks are warning of layoffs because of a slowdown in trading.
UPDATE 6-JPMorgan quarterly profit rises, loan book grows Thursday, July 14, 2011 @ 1:31PM* Q2 EPS $1.27 vs Wall Street view $1.21 * Profit lifted by lower costs for bad loans * CEO Dimon: Time still needed to cure mortgage problems * Shares up 2.8 percent in afternoon trading (Adds compensation ...
JPMorgan Chase mortgage results bode well for Wells Fargo Thursday, July 14, 2011 @ 1:30PMWhither mortgage lending? Many foreclosures are back on hold as the big banks wrestle with regulators over the price they must pay for botching their handling of distressed borrowers. Bank of America, preannouncing its earnings, said in late June that...
JP Morgan surprises Wall Street with buoyant quarter Thursday, July 14, 2011 @ 1:27PMThe investment bank arm of JP Morgan Chase helped the Wall Street titan's latest profits beat expectations, driving the shares higher.
Foreclosures plunge in first half of 2011 Thursday, July 14, 2011 @ 7:03AMForeclosure filings fell dramatically during the first half of the year as processing delays at the banks, which are strapped with excess inventory of repossessed homes, continued to skew the numbers -- and falsely raise hopes that the housing market is staging a recovery.
Registrar vs. robosigners Thursday, July 14, 2011 @ 7:00AMThe head of the Registry of Deeds in Salem is challenging lenders’ handling of mortgage records. Some say he’s overstepping his authority. AD: Helping Midsize Businesses Fuel Innovation Helping Midsize Businesses Fuel Innovation Take an interactive tour to discover how customized IBM solutions can help midsize businesses level the playing field on a Smarter Planet. ibm.com/engines Ads by Pheedo
JPMorgan Profits Grow To $5.4B, Top Estimates Thursday, July 14, 2011 @ 6:45AMBank reports revenue of $27.4 billion.