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Mortgage lenders now cast themselves as saviors

Mortgage lenders now cast themselves as saviors

PacWest Funding’s CEO watched in late 2007 as rival mortgage brokerages, banks and collaborators collapsed under the weight of the declining housing market. Fearing his company would be next, Curtis…

Bank of America sued over mortgage abuses

Bank of America sued over mortgage abuses

The states of Arizona and Nevada sued Bank of America Corp on Friday, accusing the largest U.S. bank of routinely misleading consumers about home loan modifications. The two lawsuits, filed…

Foreclosure nightmares: When the banks get it all wrong

Foreclosure nightmares: When the banks get it all wrong

Christopher Marconi was in the shower when he heard a loud banging on his door. By the time he grabbed a towel and hustled to his front step, a U.S.…

New White House rules for help on mortgages

New White House rules for help on mortgages

The White House plans to announce on Friday that it will require lenders to lower the mortgage payments of some unemployed workers and encourage lenders to eliminate some principal debt…