Tag Archive | “robo-signing”
Top Lenders Clear out Foreclosure Inventories in Non-judicial States
Among the five lenders involved in the National Mortgage Settlement – Bank of America, Wells Fargo, JPMorgan Chase, Citi and Ally/GMAC – non-judicial pre-foreclosure activity (NOD, NTS) decreased 41 percent in November compared to a year ago, led by Bank of America with a 63 percent decrease and Citi with a 40 percent decrease. Meanwhile judicial pre-foreclosure activity (LIS, NFS) for the five lenders combined increased 26 percent from a year ago, led by Chase with a 114 percent increase and Wells Fargo with a 37 percent increase.
Continue reading…Robo-Signing Scandal Dampens Housing Recovery Hopes
Tuesday, December 7, 2010
Recent bank scandals involving robo-signing foreclosure documents and improprieties in the lending process have weakened consumer confidence about housing market recovery prospects. More than half of adults report that robo-signing disclosures account for less faith in mortgage lenders, banks, and government, according to a recent study by Trulia and RealtyTrac. Thirty-five percent believe the robo-signing issue […]
Continue reading…Crisis Freezes Foreclosures as REO Inventories Rise
Thursday, October 14, 2010
As investigations and multi-month delays in the foreclosure process begin, those who will suffer most are JP Morgan Chase, Bank of America and Wells Fargo, according to a new survey of foreclosure exposure, and foreclosure suspensions are coming at a bad time, just as foreclosue sales are down and REO inventories are rising.
Continue reading…ForeclosureGate Won’t Close til 2011
Wednesday, October 13, 2010
Almost hourly the nightmare facing the housing industry worsens as the ramifications of what is being called ForeclosureGate become clearer.
Continue reading…
Friday, December 14, 2012
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