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News Headlines - mortgage lawsuits

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National Mortgage News

Financial industry petitions FCC to make robocall lawsuits harder to win
National Mortgage News
There are 17 signatories to the petition, including the American Bankers Association, Credit Union National Association, Mortgage Bankers Association and other banking, credit union and mortgage industry groups. They are seeking a declaratory ruling ...


GE warns its subprime mortgage unit could file for bankruptcy
General Electric is still being haunted by the mess created by its disastrous adventure into subprime mortgage lending more than a decade ago.

and more »

Jackson Clarion Ledger

Wells Fargo: Widow's federal lawsuit refiled in wake of $1B penalty
Jackson Clarion Ledger
A Eupora widow's lawsuit against Wells Fargo has been refiled in wake of $1 billion penalty against the giant banking company.

and more »

WTNH.com (press release)

GE warns its subprime mortgage unit could file for bankruptcy
WTNH.com (press release)
GE shut down WMC, its mortgage business, in 2007 after the market for lending to risky borrowers collapsed. But the business still faces legal trouble, including lawsuits from investors and an investigation by the Justice Department. GE warned in a ...

and more »


Retirement news: 401(k) lawsuits and retirement gloom
How should a mother provide for her children in her will?: Writing a will, and talking about them, are rarely easy, but they're still important. Women especially need to have these sorts of documents, considering nearly half of those 75 and older live ...

New Mortgage Servicing Rules for “Successors in Interest”
Effective as of April 19, 2018, successors in interest to property secured by mortgage loans that are covered by the Real Estate Settlement Procedures Act (“RESPA”) and Truth In Lending Act (“TILA”) now have certain rights under those acts. These ...

Investor's Business Daily

Warren Buffett: 'We're Not Doing Anything' On General Electric Stock
Investor's Business Daily
The lawsuits allege that WMC misled investors on mortgages it sold in the run-up to the housing bust and recession that began roughly a decade ago. GE said that WMC had "substantially discontinued" new loan originations by the second quarter of 2007.
Buffett's Berkshire Hathaway bought a stunning 75 million Apple shares in first quarterCNBC

all 788 news articles »

Investopedia (blog)

GE Warns: Subprime Unit May File for Bankruptcy | Investopedia
Investopedia (blog)
Boston-based industrial conglomerate General Electric Co. (GE) has warned that it could put its dormant subprime mortgage lending business into bankruptcy ...

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Mortgage Professional America

GE reserves $1.5bn as DOJ continues to investigate WMC Mortgage, GE Capital
Mortgage Professional America
“Given the significant litigation activity and WMC's continuing efforts to resolve the lawsuits involving claims made against WMC, it is difficult to assess whether future losses will be consistent with WMC's past experience,” GE said in the filing ...

and more »


GE books $1.5 billion for potential settlement with DOJ over WMC ...
General Electric may be facing a fine of at least $1.5 billion for the lending activities of its shuttered subprime lending unit, WMC Mortgage. GE revealed last ...

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