Hints and tips:
...A servicing company placed the loan on watch for possible default — although the Trumps have remained current on their payments....
...More than 4,000 lenders provided home loans in the US last year, 60 per cent of which were made by independent mortgage companies, not banks....
...Edward Liu, former head of Americas technology banking at Morgan Stanley, has joined digital healthcare marketplace ZocDoc as chief financial officer....
...of the erroneously transferred funds....
...Lenders such as Quicken Loans have begun to originate digital mortgages. A handful of warehouse lenders such as Bank of America have begun to fund them....
...Shares in Ocwen, which collects payments on about 1.4m home loans, plunged 54 per cent as watchdogs warned its financial condition was “deficient” and that dealing with the problems could fatally undermine...
...Such loans are known as “qualified mortgages”, or QM, and they account for the vast majority of America’s home-loan market....
...slim as few cases reach this level....
...The bundling of lower-quality subprime home loans into mortgage-backed securities drew fierce criticism for its role in the financial crisis....
...The non-banks’ increased share of home loans comes at a time when big lenders such as Wells Fargo, Bank of America and JPMorgan are pulling back, according to a study by academics at Harvard’s Kennedy School...
...– ignored “pervasive” deficiencies in the underlying loan pools and the servicing of the loans....
...Taiwan’s Export-Import Bank sued in US courts for full payment of a loan not repaid in 2005 when Grenada re-established diplomatic ties with China, using the same pari passu argument employed by Argentina...
...with the bank to modify their home loans, instead of using external foreclosure lawyers....
...(Financial Times) The US government sued Bank of America on Tuesday, alleging it committed fraud by packing MBS with loans that it knew to be “toxic waste”....
...(Financial Times) The US Department of Justice sued to block the merger of US Airways and American Airlines’ bankrupt parent....
...The central charge is that foot-dragging by policy makers allowed a host of at-risk investors in bank debt to pass their pain to Europe’s taxpayers, as the crisis gathered pace....
...(Wall Street Journal)(Financial Times) Troika report warns of more uncertainty on Greek debt servicing: “Downside risks have increased significantly compared to the second review, particularly as regards...
...Urbi is being sued by Barclays, Deutsche Bank and Credit Suisse over (respectively) a missed margin call, a loan payment and a derivative payment....
...“This trend will continue as the US government works to reduce its exposure to future mortgage loan losses.”...
...abuse of the foreclosure system that allowed banks to seize homes from defaulting borrowers....
...Goldman’s next bugbear might be Fremont Home Loan Trust 2006-E, reports Stephen Gandel (Fortune Term Sheet)....
...” that would be earned in relation to the loan principal reduced by the banks as well as other types of payment relief....
...Fannie Mae and Freddie Mac, the twin government-sponsored mortgage financiers that the same year became wards of the state, are seeking to return tens of billions of dollars in soured home loans to groups...
...That said, the first part (“given the lack of current delinquencies”) is erroneously circular logic: delinquencies have been held artificially low by regulation and banks’ incentives, as we noted above....
...That does not mean the banks will necessarily force the company into default. Cemex has so far met every obligation and condition attached to a $15bn bank loan in 2009, which saved it from bankruptcy....
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