Search for: "AMERICAN SECURITY MORTGAGE CORPORATION"
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26 Jun 2014, 11:11 am
As a result of the false applications and appraisals, the lending institutions were fraudulently induced to issue millions of dollars of mortgage loans secured by properties that had inflated appraisal values to individuals who had insufficient income and assets to qualify for the mortgage loan. [read post]
21 Aug 2014, 4:35 pm
” This settlement is part of the ongoing efforts of President Obama’s Financial Fraud Enforcement Task Force and its Residential Mortgage-Backed Securities (RMBS) Working Group, which has recovered $36.65 billion to date for American consumers and investors. [read post]
24 Oct 2008, 4:02 pm
BANKING LAW, CIVIL PROCEDURE, SECURITIES LAW Morrison v. [read post]
9 Sep 2011, 10:52 am
And you know that while corporate profits have come roaring back, smaller companies haven’t. [read post]
6 Apr 2010, 1:58 am
Fremont General Corporation: In a March 29, 2010 order (here), Central District of California Judge Jacqueline Nguyen granted with prejudice the motion of defendants to dismiss the subprime related securities class action lawsuit that had been filed against Fremont General Corporation. [read post]
23 Dec 2010, 8:22 am
Another proposal, by professor Howell Jackson of Harvard Law School, would use government’s power of eminent domain to take securitized mortgages, compensate the holder at the securities’ (much reduced) fair market value, and use the savings to turn the paper back into whole mortgages with steep reductions in interest and principal. [read post]
11 Jul 2013, 10:31 am
Numerous federal cases and other court actions have been unsealed involving attorneys, mortgage brokers, real estate professionals, and developers, who are charged with federal crimes pertaining to mortgage fraud. 1. [read post]
10 Apr 2024, 11:44 am
” The three whistleblowers alerted the IRS to potential non-compliance issues with real estate mortgage investment conduits (REMICs), financial entities utilized by lenders to manage pools of mortgages and issue mortgage-backed securities. [read post]
5 Apr 2009, 1:26 pm
In September 2008, the government takeover of mortgage giants Fannie Mae and Freddie Mac was followed by the collapse of Lehman Brothers, the acquisition of Merrill Lynch by Bank of America and an $85 billion (and now $170 billion) government investment in American International Group. [read post]
13 Jul 2012, 1:00 am
Pauley III denied in part the defendants’ motion to dismiss the securities class action lawsuit that had been filed against the Bank of American, certain of its directors and officers, its offering underwriters and its auditors, in a case filed in the wake of the mortgage foreclosure processing scandal. [read post]
16 Jul 2009, 12:17 pm
Morgan Keegan, is a subsidiary of Regions Financial Corporation. [read post]
7 Aug 2017, 8:53 am
At times, government bureaus also measure tax expenditures from the payroll taxes that fund social insurance programs like Social Security. [read post]
15 Aug 2013, 12:14 pm
The financial crisis hit in 2008 because too many made similar (bad) bets on the American housing market’s ability to support its massive levels of poor-quality mortgage securities. [read post]
13 Nov 2014, 4:37 pm
Senator Shelby was concerned that the legislation would have established the Federal Mortgage Insurance Corporation (FMIC) as an new, independent federal agency to develop standard form credit risk-sharing mechanisms, products, and security agreements that require private market holders of a covered security insured under the Act to assume the first loss position with respect to losses incurred on such securities. [read post]
22 Feb 2008, 6:10 am
The advantages of the securities however, quickly vanished in the subprime-mortgage crisis. [read post]
1 Mar 2010, 10:54 am
Corporations do it all the time when they walk away from bad business and property investments. [read post]
16 Oct 2010, 1:28 pm
The lame duck session of Congress will pass a bill that essentially papers over the misdeeds of the banks that originated mortgage securities. [read post]
15 Apr 2010, 10:38 am
You see, these people sue corporations for a living, day in and day out. [read post]
5 Feb 2009, 1:39 am
The Wave’s History – So Far The current subprime and credit crisis-related securities litigation wave began on February 8, 2007, with the filing of a securities lawsuit against New Century Financial Corporation and certain of its directors and officers. [read post]
4 Nov 2011, 8:52 am
There is also a 2009 documentary about the subprime mortgage fiasco, which is now available on DVD, American Casino. [read post]
