When the news hit the other day of the blockbuster settlement for abuses in the foreclosure process, there may have been one brand you didn’t immediately recognize. Ally has really only been around since 2009, but there are already rumors swirling about its status.
A report says U.S. taxpayers may end up on the losing side of the multi-billion-dollar housing settlement between banks and states. Former TARP Inspector General Neil Barofsky explains how we may be bailing out big banks again.
The $25 billion foreclosure settlement is one of the biggest in history. But is it fair? Housing and Urban Development Secretary Shaun Donovan, one of the architects of the deal, responds.
Yesterday's $25 billion agreement between five big U.S. banks and state attorneys general could help some three million homeowners who owe more than their homes are currently worth.
Today's $26 billion settlement between the government and five of the nation's biggest banks could free up the billions in mortgage securities they possess. But the settlement will also change many of the ways banks deal with foreclosures.