By NELSON D. SCHWARTZ 8:14 p.m. | Updated Even as investors put aside their worries on Friday about the effect of the foreclosure mess on bank stocks, new signs emerged of what is likely to be a long and expensive legal battle for the financial services industry over mortgages gone bad. Citigroup disclosed in a [...]
Greek, Irish and Spanish banks are falling behind their counterparts across Europe in reducing their dependence on emergency central bank financing because they can’t find investors willing to buy their bonds, Bloomberg News reported. Lenders from those three nations took 61 percent of the loans supplied by the European Central Bank at the end of [...]
Greek, Irish and Spanish banks are falling behind their counterparts across Europe in reducing their dependence on emergency central bank financing because they can’t find investors willing to buy their bonds, Bloomberg News reported. Lenders from those three nations took 61 percent of the loans supplied by the European Central Bank at the end of [...]
Bank of America and GMAC are firing up their formidable foreclosure machines again today, after a brief pause, Michael Powell reports in The New York Times. But hard-pressed homeowners like Lydia Sweetland are asking why lenders often balk at a less disruptive solution: short sales, which allow owners to sell deeply devalued homes for less [...]
Bank of America announced Monday that it has completed due diligence and will henceforth resume evictions and foreclosures in 23 states as part of its efforts to collect mortgage debts. The end of the bank’s moratorium signals the first of the big mortgage holders (GMAC soon followed) to get back to business after recent court [...]
Bank of America announced Monday that it has completed due diligence and will henceforth resume evictions and foreclosures in 23 states as part of its efforts to collect mortgage debts. The end of the bank’s moratorium signals the first of the big mortgage holders (GMAC soon followed) to get back to business after recent court [...]
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