Mortgage Foreclosure & Refinance Resource

The F.B.I. has opened investigations into 14 corporations as part of a crackdown on improper subprime lending, agency officials said on Tuesday. Separately, Bear Stearns, Goldman Sachs and Morgan Stanley said government investigators were seeking information from them about their subprime mortgage activities. But it was not immediately clear if the disclosures by the [...]

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Today Bernstein Litowitz Berger & Grossmann LLP announced the establishment of a new practice group in the wake of the collapse of the subprime mortgage industry and the continuing revelations of misconduct by mortgage lenders, bankers and rating agencies.

The newly formed Subprime Litigation Practice Group will help ensure that the rights of institutional and individual [...]

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It’s been widely reported, that the government is working on a plan to broadly rework adjustable rate mortgages (ARMs) for all borrowers who qualify and freeze their interest rates before they jump to unaffordable levels and end up having negative amortization.
But investors in mortgage-backed securities, who buy the loans wholesale from lenders, aren’t exactly jumping [...]

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