The financial crisis of 2008 and the subsequent wave of mortgage foreclosures brought to light certain lenders' practices of “Robo-Signing.” Robo-Signing was a term coined to refer to bank employees' alleged practice of “robotically” signing mortgage loan documents without reviewing them. Foreclosure News
PHH Corp. settled allegations of foreclosure process abuses with 49 states that involved “inconsistent signatures” and improper certification of servicing documents. The Mount Laurel, N.J.-based company will pay $ 45 million, including $ 31.5 million that will go to borrowers whose homes were foreclosed on or who were put into foreclosure between Jan. 1, 2009, […]
A bank founded by Steven Mnuchin, President Donald Trump's nominee for treasury secretary, engaged in ethically questionable foreclosure practices in Washington state, including so-called “robosigning” of documents. OneWest Bank employees robosigned numerous foreclosure-related filings in the Seattle area, documents show. Foreclosure News
Federal banking agencies have levied a $ 65 million fine against Fidelity National Financial subsidiary ServiceLink Holdings over deficiencies in the foreclosure-related services provided by its predecessor company. The fine, assessed by the Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, satisfies a provision of a […]
A Fidelity National Financial Inc. subsidiary is in final talks to pay as much as $ 65 million to resolve U.S. government accusations that it contributed to improper and fraudulent foreclosures after the 2008 credit crisis, according to a person familiar with the deal. Federal banking regulators agreed that a $ 65 million penalty could […]
WASHINGTON: JPMorgan Chase has been fined US$ 48 million for failing to meet terms of a settlement to resolve mortgage servicing violations, U.S. bank regulators said on Tuesday. The fine will be on top of another US$ 2 billion that JPMorgan had been ordered to pay to cover remediation costs and foreclosure assistance to borrowers, […]