According to the AP News, homeowners have sued Fidelity National Information Services Inc., a giant financial data-processing company, accusing it of raising the price that cash-strapped consumers must pay to avoid foreclosure of their homes. The lawsuit, filed Jan. 16 in the U.S. Bankruptcy Court in Houston, contends that Fidelity has conspired with mortgage-servicing companies [...]
Fidelity National Information Services Sued for Adding to the Indebtedness of Homeowners
February 5th, 2008 · No Comments
Tags: Mortgage Litigation · Mortgage Scams
Washington Mutual Loses Record Payments, Forces Foreclosure
January 15th, 2008 · No Comments
Kwaku Atta Poku, the Columbia cab owner who lost his family’s townhouse to foreclosure after a refinancing, despite having made every mortgage payment, is to get another chance to present his case today in Maryland’s highest court. In arguments that could change how lower courts handle foreclosure cases, attorneys for the immigrant from Ghana are [...]
Tags: Foreclosure Information · Mortgage Legislation · Mortgage Litigation
Industry Wide Writedowns Top $46 Billion (Wachovia, BofA, WaMu, PNC)
December 12th, 2007 · No Comments
The nation’s housing and mortgage-lending slump keeps growing with industry write-downs topping $46 billion. Today, Wachovia Corp doubled its estimate of loan loss provisions to about $1 billion for the fourth quarter while the chief executive of rival Bank of America Corp. said he expects current credit market turbulence to extend into 2008. In November, [...]