Posts Tagged ‘mortgage market’


Who’s Really Paying For Bank Settlements?

Since 2010 the nation’s biggest banks have paid out billions in settlements over fraud, misrepresentation and downright illegal banking practices. But lawsuit after lawsuit continues to catch the megabanks red handed, with no apparent damage done by those multimillion-dollar payouts. Where do the big banks get their money? From the very government that’s prosecuting them. […]

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Banks Settle Up In Insurance Rate Fixing Suits

In the seemingly never ending saga of legal actions against the nation’s big banks – and sometimes their foreign counterparts as well – the action usually plays out on a government stage of the highest level, with lawsuits brought by state officials or the Justice Department itself. But a recent lawsuit discreetly settled by Bank […]

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Loan Fraud Cover-ups Affect the Economy

Another day, another bank fraud settlement. JP Morgan Chase has just agreed to pony up $614 million in the latest round in the Justice Department’s ongoing effort to clean up the fraud and deceit in the nation’s lending industry. And whether you’re looking for a mortgage or not, the big banks’ longstanding patterns of deliberate […]

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The Long Reach of Shadow Banking

Shadow banking – the financial world most have never heard of – stepped into the light recently with news from China about an investigation into that country’s system of unregulated financial dealings. While it’s easy to assume that this alternative to mainstream banks is purely a phenomenon of countries with a history of secrecy and […]

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Life After Lawsuits: Megabanks Try to Regroup

After racking up over $40 billion in legal fees fighting government sponsored lawsuits over the past few years, Bank of America wants you to know it’s changed its ways. Faced with allegations of mistreating both its customers and employees after th death of an overworked intern at one of its London branches, the bank – […]

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Social Media Missteps Can Hurt Credit

It’s an open secret that companies routinely Google job applicants and examine their social media profiles as part of the hiring process. But in a more regulated and cautious lending atmosphere, banks and other financial institutions are starting to look at the social media activity of loan applicants to determine creditworthiness for mortgages and other […]

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Top 5 Trending Topics of 2013

This New Year sets the stage for a financial world that’s very different in some ways than any we’ve seen before. From the decline of the dollar to the rise of the Bitcoin and other digital currencies and the state of the stimulus, the trends of 2013 paved the way for changes that affect all […]

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Lending Industry Cleanup Means New Rules

The New Year brings big changes to the US loan business, as lawsuits and legislation continue to force a cleanup of the institutions that were in large part responsible for the housing collapse of a few years ago. And as those changes, aimed at protecting the consumers whose purchases keep the economy humming, take effect […]

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New 2014 Lending Standards May Chill Borrowing

symptoms of diabetes p>What a difference two percentage points can make. A new provision of the sweeping Dodd Frank act that’s scheduled to take effect this January drops the allowable debt to income ratio for mortgages and other kinds of consumer loans from 45 percent to 43 – a small change with the power to […]

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Fannie and Freddie Retreat, But Fees Advance

Among the many factors affecting the strength of the dollar and the US economic recovery as a whole is government involvement in the still recovering housing industry. As world markets warily eye the Federal Reserve’s ongoing bond buying stimulus plan, the government backed megalenders Fannie Mae and Freddie Mac embark on a drawdown of their […]

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