Diane Alter – AHN News Reporter Atlanta, GA, United States (AHN) – Oh how the tall and mighty have fallen. Atlanta’s tallest building, Bank of America Plaza, a tower bought at the market peak, has been struggling with rising vacancy rates and a heavy debt load. A foreclosure date has been set for the storied [...]

Diane Alter – AHN News Reporter New York, NY, United States (AHN) – U.S. stocks staged a late day rally Tuesday on hopes of a European rescue agreement. The Dow Jones Industrial Average soared, closing up 180 points. The S&P 500 Index was better by 42 points and the NASDAQ rose more than 26 points. [...]

Mortgage lenders are ranked based both on how many new loans they originate and how many loans they service. By those measures, the biggest originator of home loans during the third quarters was Wells Fargo & Co. The biggest mortgage servicer, meanwhile, was Bank of America Corp. View full post on All Stories

Mediation might not come soon enough for homeowners facing foreclosure on their Bank of America mortgages. The bank halted all foreclosures earlier this month while it sorted out its paperwork problems. This week, the bank said the review is complete and it will resume foreclosures. But there’s new pressure now from investors who want to [...]

The fuss over poorly reviewed repossessions exposes deeper problems HOW did foreclosures go, in a matter of weeks, from just another miserable statistic in America’s housing bust to the subject of a scandal with its own “-gate” suffix? The answer is a combination of sloppy (and possibly fraudulent) paperwork, a securitisation process that is even [...]

The banks with the largest dollar amounts of foreclosed home loans on their books are J.P. Morgan Chase & Co., Bank of America Corp. and Wells Fargo & Co., according to analyst firm SNL Financial. View full post on All Stories