Eric Holder Launches Probe Into Mortgage-Backed Securities Fraud – International Business Times

U.S. Attorney General Eric Holder Friday announced the formation of a task force focused on probing residential mortgage-backed securities following President Barack Obama’s call for a unit to probe the finance industry’s conduct leading up to …
Go to Source

Justice Department Unit Issues Subpoenas in Mortgage Fraud Inquiry – New York Times

WASHINGTON — A new law enforcement group examining securities fraud from the housing bubble and financial crisis has already issued civil subpoenas to 11 financial companies for information related to their actions in the market for …
Go to Source

Outlook for U.S. mortgage settlement: partly cloudy – Reuters

(Reuters) – The outlook for securing a broad mortgage settlement that would bring housing relief nationwide has clouded, as California on Wednesday said the latest proposal is inadequate and New York was tapped to help lead a separate mortgage
Go to Source

Mortgage Fraud Still Rampant – Forbes

If President Obama is serious about forming a new unit to prosecute financial and mortgage crimes, the first place he should look is at operators who are fleecing desperate homeowners. Scams that target these down-on-their-luck folks are rampant.
Go to Source

Mortgage refinancers rush to duck fee hike – Bankrate.com

Mortgage rates remained near record lows this week as a wave of refinancers rushed to beat higher mortgage fees that could soon make the most common type of mortgage slightly more expensive for borrowers. 30 year fixed rate mortgage – 3 month …
Go to Source

Kamala Harris: National Mortgage Deal Still Not Good Enough For California – Huffington Post

One day after New York Attorney General Eric Schneiderman was named co-chairman of a federal mortgage fraud task force, California Attorney General Kamala Harris announced that she still refuses to join the national foreclosure settlement …
Go to Source

Fitch to Release Models for Mortgage Bonds as Ranieri’s Lender Complains – Bloomberg

Fitch Ratings is planning to share its grading model for U.S. home-loan bonds with issuers and investors as industry pioneer Lewis Ranieri’s lender complains that credit-ranking firms are hindering the market’s recovery. Fitch knows that …
Go to Source