BofA to start reducing mortgage principal
Thursday, March 17th, 2011Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure.
AIG swings to a first-quarter profit
Wednesday, March 16th, 2011Firm’s mortgage insurance business posts first profit in three years
Bank probes expanding with new investigation
Wednesday, March 16th, 2011U.S. authorities are expanding their probes of past mortgage securities deals, with New York’s attorney general opening an investigation into whether eight banks misled rating agencies, a source familiar with the matter said.
Prosecutors comb through Wall Street’s mortgage deals
Wednesday, March 16th, 2011Wall Street’s biggest banks are facing a new legal onslaught, as regulators and state and federal prosecutors pore over their activities in the mortgage market in the run-up to the credit crisis.
BofA: Mortgage Walkaways Have Huge Incentive
Wednesday, March 16th, 2011This morning executives at Bank of America [BAC 15.922 0.032 (+0.2%) ] rolled out their new “Principal Reduction Enhancement” program, which is an earned principal forgiveness plan for borrowers behind on their mortgages and whose loans are at least 20 percent underwater in value.
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