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The AP defined robo-signing as a "variety of practices. It can mean a qualified executive in the mortgage industry signs a mortgage affidavit document without verifying the information. It can mean someone forges an executive's signature, or a lower-level employee signs his or her own name with a fake title.
The stock market crash on Black Tuesday and subsequent economic turmoil reified the formerly abstract risks endemic to the 1920s mortgage market: borrowers could no longer afford even moderate monthly payments and the recompense afforded by foreclosure on a lien did little to ameliorate many institutions' financial standing: between 1928 and 1933, home prices declined by nearly 25.9% ...
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
If you owned a house that's now worth a lot less than what you owe on your mortgage, would you walk away from the home and default on the mortgage? If so, you'd have plenty of company. In 2009 ...
The transitional logo used by PNC Financial Services after it finalized the purchase of National City Corp., January 2009 –June 2010.. The National City acquisition by PNC was the deal by PNC Financial Services to acquire National City Corp. on October 24, 2008 following National City's untenable loan losses during the subprime mortgage crisis.
Having a mortgage in retirement used to be uncommon, but that's no longer the case. They key is affordability. Money Talk with Liz Weston: Managing mortgage debt in retirement