Subprime Mortgages

Type: Keyphrase
Name: Subprime Mortgages
First reported 22 hours ago - Updated 56 mins ago - 10 reports

Bank of America to pay record $16.65 billion to settle mortgage claims

Reporting from Washington— Bank of America Corp. has agreed to pay $16.65 billion to end federal and state investigations into the sale of toxic mortgage securities during the subprime housing boom, the largest settlement by a single company in U.S. history, ... [Published South Florida Sun-Sentinel - 3 hours ago]
First reported Aug 20 2014 - Updated 1 hour ago - 6 reports

Who Is Angelo Mozilo? Former Countrywide Exec To Face Civil Case Amid Bank Of America Settlement

Federal prosecutors are poised to pursue a civil case against Angelo Mozilo, the disgraced Countrywide Financial co-founder, according to multiple sources. (NYSE: BAC) has agreed to pay a record-breaking $16.65 billion settlement over allegations that ... [Published Austin American Statesman - 4 hours ago]
First reported 6 hours ago - Updated 1 hour ago - 2 reports

Bank of America to pay record $17B to end mortgage probes

Bank of America has agreed to pay a record $16.6 billion — the largest federal fine ever against a single US company — to put the bulk of its mortgage-related woes to bed.The penalty, announced Thursday by Attorney General Eric Holder in Washington, settles ... [Published New York Post - 5 hours ago]
First reported 8 hours ago - Updated 1 hour ago - 4 reports

Bank Of America Agrees To $16.65 Billion Settlement For Subprime Mortgage Sh*tshow

Today, Bank of America announced it would pay $16.5 billion to end state and federal lawsuits over selling mortgage-backed securities that helped contribute to the financial crisis of 2008. Attorney General Eric Holder said , "Bank of America has ... [Published Gothamist - 2 hours ago]
First reported 3 hours ago - Updated 2 hours ago - 2 reports

Why a Leap in Big-Money Auto Loans Isn't Cause for Worry

08/21/14 - 01:09 PM EDTNEW YORK ( TheStreet ) — The New York Federal Reserve shows  that household debt is "essentially flat," dropping by $18 billion in the past quarter to 8.2% below a peak in the third quarter of 2008 .  Most household debt categories ... [Published TheStreet.com - 2 hours ago]
First reported Aug 20 2014 - Updated 6 hours ago - 5 reports

Subprime Auto Lender Fined $2.8 Million

By DAVID LEEDALLAS (CN) - A Texas subprime automobile lender has been fined $2.75 million for knowingly reporting inaccurate information to customer credit records for at least three years, the Consumer Financial Protection Bureau said Wednesday.Houston-based ... [Published Courthouse News Service - 6 hours ago]
First reported Aug 20 2014 - Updated 10 hours ago - 12 reports

Subprime auto loan growth is 'less pronounced' in context, Fed analysts say »

While auto lending is rising in all credit categories, subprime auto loans are growing the fastest because that segment dropped the most during the downturn, say four analysts from the Federal Reserve Bank of New York.The group provided some historical ... [Published Automotive News - 10 hours ago]
First reported Aug 20 2014 - Updated 18 hours ago - 3 reports

Mozilo's Back In the Subprime Time of His Life

Countrywide Financial Corp. co- founder Angelo Mozilo hasn't escaped the wrath of prosecutors for his company's role in inflating the U.S housing bubble that preceded the financial crisis. ... [Published Builder Online - 18 hours ago]
First reported Aug 20 2014 - Updated Aug 20 2014 - 2 reports

AmeriCredit gets away but timing questioned

“I don’t think it flew out the door,” said one investor, who did not participate in the deal. “It’s a weird time to be putting a deal on the market. It’s not an environment where you are going to see deals at the tight end of the range.”Other investors ... [Published GlobalCapital - Aug 20 2014]
First reported Aug 20 2014 - Updated Aug 20 2014 - 2 reports

Subprime Auto Worries Overblown: N.Y. Fed Economists

Byline: Chris CummingThe resurgence of subprime auto lending has stoked fears about poor underwriting and drawn parallels to the subprime mortgage debacle , but a group of economists at the Federal Reserve Bank of New York say there is no reason to p ... [Published HighBeam Research - Aug 20 2014]
First reported Aug 19 2014 - Updated Aug 20 2014 - 4 reports

Honda Calls Out Automakers For Their Stupid Bulshit

This is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important — all in one place every weekday morning. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time ... [Published Jalopnik - Aug 20 2014]
First reported Aug 19 2014 - Updated Aug 20 2014 - 5 reports

Moody’s says lenders are backing off subprime auto loans

* Showing more caution with riskier borrowers, reversing a troubling trend, Moody's saysWASHINGTON — Lenders are pulling back on extending car loans to consumers with very poor credit histories, reversing a trend that had sparked fears of a new financial ... [Published North Jersey.com - Aug 20 2014]

Quotes

...out a report saying that the world's leading central banks should not fall into the trap of raising rates "too slowly and too late," adding that "the risk of normalizing [interest rates] too late and too gradually should not be underestimated."
"What Ken Lewis thought he was doing was bringing in one of the largest mortgage banking share leaders," said Mosby. "But at the end of the day, he really bought a dying company that brought in the lion's share of the bank's $70 billion of liability."
...co-founded by oil industry billionaire David Koch, but Kerpen would not say whether Koch and his brother Charles were helping fund his new group. "We take very seriously the privacy of protecting all of our contributors" he told the Fix. He did not attend the Koch brothers' recent fundraising summit in San Diego, although he has attended such confabs in the past
...to the credit reporting agencies that they must have sound practices in place that protect consumers," said CFPB Director Richard Cordray. "Data furnishers have the legal duty to identify consumers accurately, correctly recount the consumers' payment histories, and keep their own information and record-keeping in order."

More Content

All (1853) | News (1259) | Reports (0) | Blogs (584) | Audio/Video (1) | Fact Sheets (4) | Press Releases (3)
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California pensions, consumers get $800 million... [Published Sacramento Bee - 37 mins ago]
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BofA Seeks to Prove Buffett Right After Record ... [Published Bloomberg - 2 hours ago]
SEC Poised to Vote on Long-awaited Securitizati... [Published AFSA - 2 hours ago]
Why Yellen's Jackson Hole speech could give the... [Published Yahoo! Finance - 2 hours ago]
Why a Leap in Big-Money Auto Loans Isn't Cause ... [Published TheStreet.com - 2 hours ago]
Bank Of America Agrees To $16.65 Billion Settle... [Published Gothamist - 2 hours ago]
Why a Leap in Big-Money Auto Loans Isn't Cause ... [Published The Street Latest - 3 hours ago]
Bank of America to pay record $16.65 billion to... [Published South Florida Sun-Sentinel - 3 hours ago]
Who Is Angelo Mozilo? Former Countrywide Exec T... [Published Austin American Statesman - 4 hours ago]
Who Is Angelo Mozilo? Former Countrywide Exec T... [Published Atlanta Journal And Constitution - 4 hours ago]
Florida homeowners get huge chunk of BofA settl... [Published HousingWire.com - 4 hours ago]
Janet Yellen’s Jackson Hole keynote: What to wa... [Published Yahoo! Finance - 4 hours ago]
Who Is Angelo Mozilo? Former Countrywide Exec T... [Published International Business Times - 4 hours ago]
AmeriCredit Pays Up for Latest Subprime Auto Deal [Published Asset Securitization Report Online - 4 hours ago]
Here’s Why Bank of America’s $17 Billion... [Published Mother Jones - 4 hours ago]
Here’s Why Bank of America’s $17 Billion Settle... [Published Mojo Feed | Mother Jones - 4 hours ago]
Study: African-American homeownership increasin... [Published Indianapolis Recorder - 4 hours ago]
Repossessions, Delinquencies Up As Oustanding A... [Published The Truth About Cars - 4 hours ago]
Putin clamps down on Big Macs [Published Yahoo! Finance - 4 hours ago]
BANK OF AMERICA : plea-bargains $16.6-bn fine i... [Published 4 Traders - 4 hours ago]
The Next Big Thing In Lending [Published PYMNTS.com - 4 hours ago]
If You Are Against This, You Are Probably One O... [Published Media Post - 4 hours ago]
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Blogs

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Bank Of America Agrees To $16.65 Billion Settle... [Published Gothamist - 2 hours ago]
Today, Bank of America announced it would pay $16.5 billion to end state and federal lawsuits over selling mortgage-backed securities that helped contribute to the financial crisis of 2008. Attorney General Eric Holder said , "Bank of America has ...
AmeriCredit Pays Up for Latest Subprime Auto Deal [Published Asset Securitization Report Online - 4 hours ago]
AmeriCredit priced $1 billion of securities backed by subprime retail auto loans at pricing spreads that were mostly wide of the issuer's previous deal. ...
Here’s Why Bank of America’s $17 Billion Settle... [Published Mojo Feed | Mother Jones - 4 hours ago]
On Thursday, the Justice Department announced a record $17 billion settlement with Bank of America over accusations that the bank—as well as companies it later bought—intentionally misled investors who purchased financial products backed by toxic subprime ...
Obamacare Is A Disaster For Businesses, Philly ... [Published Zero Hedge - 5 hours ago]
Remember all those allegations that Obamacare would be an unmitigated disaster for businesses, especially smaller companies? Well, now we have proof. As the Philly Fed, which mysteriously soared at the headline level even as the vast majority of its ...
Bank of America in record US$16.65-billion sett... [Published Financial Post - Top Stories - 6 hours ago]
Bank of America Corp has reached a US$16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities. The settlement announced on Thursday by the U.S. Department of Justice calls ...
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Audio/Video

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YMM AM - Increased Lending to Subprime Borrowers [Published Wall Street Journal's Your Money Matters - Mar 07 2014]
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Press Releases

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Morgan Stanley to Pay $275 Million for Misleadi... [Published SEC US Press Releases - Jul 24 2014]
NY Judge Upholds Fraud Claims Against Wells Far... [Published Financial Services - Apr 09 2014]
SFT Plus Pak to Help Advertisers Reach Sub-Prim... [Published PR Newswire - Dec 11 2013]
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