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Mortgage Giant Countrywide Sued For Racial Discrimination

*Attorney General Lisa Madigan filed a lawsuit Tuesday against Countrywide, alleging the fallen mortgage industry giant discriminated against blacks and Latinos buying home mortgages in Illinois, reports the AP. The lawsuit, filed in Cook County Circuit Court, claimed the Bank of America Corp., subsidiary steered minority borrowers into risky subprime mortgages more often than white

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Mortgage Giant Countrywide Sued For Racial Discrimination

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Illinois’ suit accuses mortgage firm of anti-minority bias

The State of Illinois sued former mortgage giant Countrywide Financial Corporation today for allegedly using discriminatory lending practices on minority borrowers. The lawsuit, filed in Cook County Circuit Court by Illinois Attorney General Lisa Madigan, said an investigation revealed that African-American and Latino borrowers were much more likely to be given risky subprime loans by the lender …

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Illinois’ suit accuses mortgage firm of anti-minority bias

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Wayne County news briefs: Get free help with mortgage woes

With 202 homes in Garden City in mortgage foreclosure, the county’s award-winning Mortgage Foreclosure Prevention Program is coming to town to help residents in need.

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Wayne County news briefs: Get free help with mortgage woes

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Study: UAE mortgage market shows improvement

Study: UAE mortgage market shows improvement

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Study: UAE mortgage market shows improvement

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Mortgage woes pose dilemma

In the real estate industry, new terms are coined as the need arises. On a recent trip to the Lower 48, we were in an area with a high foreclosure rate, and we heard an interesting new phrase — “house arrest.” This means that you owe more than your home is worth (so your house is considered “underwater”), but you can still afford to make your mortgage payment.

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Mortgage woes pose dilemma

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Criminal charges filed in fraud scheme linked to reverse mortgage program

It is the tip of what could prove to be a very large financial fraud iceberg. Jackson County prosecutors and federal officials said Thursday that they have filed criminal charges in a fraud scheme involving the government-sponsored reverse mortgage program — only the second such case filed nationally.

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Criminal charges filed in fraud scheme linked to reverse mortgage program

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Mortgage broker may face felony charge in alleged assault in Bothell (Seattle Times)

King County prosecutors are considering filing a felony charge against a real-estate mortgage broker who allegedly assaulted a woman in downtown Bothell last month.

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Mortgage broker may face felony charge in alleged assault in Bothell (Seattle Times)

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TransUnion: Mortgage delinquencies hit new record (San Francisco Chronicle)

TransUnion said Monday that customers at least 60 days past due on their mortgage payments rose to a new record in the fourth quarter.

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TransUnion: Mortgage delinquencies hit new record (San Francisco Chronicle)

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Arrests in mortgage fraud probe (BBC News)

Seven people from County Durham are arrested as part of an investigation into a multimillion-pound mortgage fraud.

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Arrests in mortgage fraud probe (BBC News)

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Thumb down: Record number of mortgage foreclosures filed in Martin County (Indian River Press Journal)

DUBIOUS RECORD: Martin County reached an unwelcome milestone in 2009 — one that bodes ill for the county’s foreseeable economic future.A total of 2,082 mortgage foreclosure cases were filed in Martin County Circuit Court in 2009, an increase of 19.5 percent from the record 1,742 filed in 2008, court records show.There a human story behind each filing. A record number of county residents are …

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Thumb down: Record number of mortgage foreclosures filed in Martin County (Indian River Press Journal)

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