Nevada has reached a settlement with Lender Processing Services, Inc. (“LPS”), now known as Black Knight Financial Services, over allegations of the alleged “robosigning” of mortgage documents. The settlement resolves the state’s... Read More
Bank of America has reached an agreement with the Federal Home Loan Mortgage Corporation (Freddie Mac) to resolve all remaining representations and warranties claims for residential mortgage loans sold to Freddie Mac through the end of 2009. Under... Read More
JPMorgan Chase has reached yet another settlement with federal prosecutors. Now, it will pay $614 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for... Read More
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $36.0 billion in the third quarter of 2013. That’s a lot of money, but it also is a $1.5 billion (3.9 percent... Read More
The State of New Jersey has filed a lawsuit against Credit Suisse Securities (USA) LLC and two of its affiliates alleging that they offered more than $10 billion in residential mortgage backed securities trusts for sale while misrepresenting the risks... Read More