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News & Analysis as of May 19, 2013

Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina

Federal Reserve Announces Another Major Cash Settlement with Mortgage Servicers: $8.5 Billion to be Paid in Cash, Used to Help...

by Rosa Eckstein Schechter on 1/15/2013

In a joint press release issued by the Federal Reserve and the Office of the Comptroller of the Currency, news this past week is that 10 mortgage servicers around the country have entered into a settlement agreement with the...more

Mortgage Foreclosure Settlement

by Philip R. Stein | Bilzin Sumberg Mortgage Repurchase Group on 1/10/2013

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

Update: Has The National Mortgage Settlement Helped Any Georgia Homeowner?

by Win Mims | Jeff Field & Associates on 12/4/2012

In an earlier blog published 10-30-12, we tracked some of the developments in the so-called "historic" National Mortgage Settlement (NMS) with Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally which was...more

Action Plans for Residential Mortgage Servicing and Foreclosure Deficiencies

by Orrick, Herrington & Sutcliffe LLP on 2/27/2012

On February 27, the Fed released action plans from Bank of America, Citigroup, EverBank, JPMorgan Chase, MetLife, PNC, SunTrust, US Bancorp, and Wells Fargo to correct deficiencies in residential mortgage loan servicing and...more

InfoBytes Special Alert: Federal and State Officials Announce Mortgage Servicing Settlement

by BuckleySandler LLP on 2/9/2012

This morning, U.S. Attorney General Eric Holder, HUD Secretary Shawn Donovan, Iowa Attorney General Tom Miller, and several other state and federal officials jointly announced an approximately $25 billion agreement in...more

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