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Financial Crisis Category Archives: Financial Crisis

Federal court dismisses wrongful foreclosure lawsuit against mortgage registry, others

May 21, 2013 1:00 PM
By Jessica M. Karmasek

SPOKANE, Wash. (Legal Newsline) — A federal judge earlier this month ruled in favor of the national mortgage registry known as MERS and its co-defendants in a lawsuit alleging wrongful foreclosure and violations of Washington’s Consumer Protection Act. Judge Thomas … Read More »

Financial Crisis, Hot Topics, News, Sub-Prime Mortgages, U.S. District Court, Washington

U.S. asks federal court to deny S&P’s motion to dismiss fraud lawsuit

May 21, 2013 11:15 AM
By Jessica M. Karmasek

LOS ANGELES (Legal Newsline) — The U.S. Department of Justice, in a filing Monday, asked a federal court not to dismiss its lawsuit against The McGraw-Hill Companies Inc. and its subsidiary Standard & Poor’s Rating Services. The DOJ filed its … Read More »

Federal Government, Financial Crisis, Hot Topics, News, State AGs, Sub-Prime Mortgages, U.S. District Court

Bank of America: ‘Surprised and disappointed’ by N.Y. AG’s plans to sue over mortgage settlement

May 14, 2013 10:30 AM
By Jessica M. Karmasek

NEW YORK (Legal Newsline) — Bank of America Corp., responding to New York Attorney General Eric Schneiderman’s allegations last week that the bank has violated last year’s $25 billion nationwide mortgage settlement, says Schneiderman can’t sue until the bank is … Read More »

Financial Crisis, Hot Topics, New York, News, State AGs, Sub-Prime Mortgages

N.Y. AG calls for federal housing agency acting director’s immediate removal

May 10, 2013 11:15 AM
By Jessica M. Karmasek

NEW YORK (Legal Newsline) — New York Attorney General Eric Schneiderman, in an op-ed published Wednesday, called for the immediate removal of Edward DeMarco, the acting director of the Federal Housing Finance Authority. Last week, President Barack Obama announced he … Read More »

Federal Government, Financial Crisis, Hot Topics, New York, News, State AGs, Sub-Prime Mortgages

Mich. AG concerned terms of mortgage settlement not being met

May 10, 2013 10:15 AM
By Jessica M. Karmasek

LANSING, Mich. (Legal Newsline) — Michigan Attorney General Bill Schuette, in a letter Wednesday, said he is concerned that certain terms of the nationwide mortgage settlement are not being met by the five banks that signed on to the deal. … Read More »

Financial Crisis, Michigan, News, State AGs, Sub-Prime Mortgages

Federal judge favors mortgage registry, banks in suit over transfer taxes

May 8, 2013 9:30 AM
By Jessica M. Karmasek

GRAND RAPIDS, Mich. (Legal Newsline) — A federal judge in Michigan last week sided with the national mortgage registry known as MERS and a group of banks in a case over transfer taxes. On Friday, Judge Robert Holmes Bell of … Read More »

Financial Crisis, Michigan, News, Sub-Prime Mortgages, U.S. District Court

Calif. AG ‘confident’ Watt will be an effective FHFA director

May 3, 2013 7:00 AM
By Jessica M. Karmasek

SACRAMENTO, Calif. (Legal Newsline) — U.S. Rep. Melvin Watt, who was nominated earlier this week as the new director of the Federal Housing Finance Agency, has the backing of California Attorney General Kamala Harris. Harris said she commended President Barack … Read More »

California, Federal Government, Financial Crisis, News, State AGs, Sub-Prime Mortgages

Obama nominates N.C. Congressman to head federal agency overseeing Fannie Mae, Freddie Mac

May 2, 2013 10:00 AM
By Jessica M. Karmasek

WASHINGTON (Legal Newsline) — President Barack Obama announced Wednesday that he plans to nominate a new director of the Federal Housing Finance Authority. The FHFA is the agency that manages Fannie Mae and Freddie Mac following the 2008 financial crisis. … Read More »

California, Delaware, Federal Government, Financial Crisis, Illinois, Maryland, Massachusetts, Nevada, New York, News, Oregon, State AGs, Sub-Prime Mortgages, Washington

N.Y. AG drops damages claims against ex-AIG CEO

April 29, 2013 12:55 PM
By Jessica M. Karmasek

NEW YORK (Legal Newsline) — New York Attorney General Eric Schneiderman told the state’s high court last week that he is dropping damages claims against ex-American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg. However, Schneiderman still plans on … Read More »

Financial Crisis, New York, News, State AGs, State Supreme Courts

Madigan announces $5M in grants for foreclosure mediation

April 26, 2013 12:55 PM
By Bryan Cohen

CHICAGO (Legal Newsline) — Illinois Attorney General Lisa Madigan announced Thursday that she awarded $5 million in grants from the national foreclosure settlement to fund new mortgage foreclosure mediation programs in counties with significant needs. The $5 million in grants … Read More »

Financial Crisis, Illinois, News, State AGs, Sub-Prime Mortgages