Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more
9/28/2015
/ Affordable Housing ,
Bank of America ,
Banking Sector ,
Banks ,
Citibank ,
Community Reinvestment Act ,
CRA ,
Data Collection ,
Financial Institutions ,
Financial Regulatory Reform ,
Foreclosure ,
JPMorgan Chase ,
Mortgages ,
Residential Real Estate Market
In the aftermath of the financial crisis, Fannie Mae and Freddie Mac aggressively demanded Wall Street and big bank aggregators (“aggregators”) repurchase millions of defaulted and distressed loans, due to purported breaches...more
6/12/2015
/ Banking Crisis ,
Banking Sector ,
Citibank ,
Fannie Mae ,
Freddie Mac ,
GSE ,
Mortgage Lenders ,
Mortgage Loan Aggregators ,
Mortgage Loan Originators ,
Mortgages ,
Repurchases ,
Settlement Agreements
We have long been skeptical of most loan “repurchase” or “indemnification” demands made by big banks against the third-party originators (i.e., correspondent lenders) who sold those loans to the big banks many years ago....more
1/10/2013
/ Aurora ,
Bank of America ,
Chase Bank ,
Citibank ,
Countrywide ,
Foreclosure ,
Mortgages ,
Settlement ,
SunTrust ,
US Bank ,
Wells Fargo ,
Wrongful Foreclosures