Checks to range from $300 to $125,000 as result of enforcement actions against 13 servicers, including the nation's largest banks.
Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.
Thirteen institutions expected to also undertake loss mitigation efforts focused on foreclosure prevention in OCC/Fed settlement.
The out-of-the-blue October closure of Pano Logic, a Redwood City, Calif.-based provider of virtual end user systems, shocked its clients, which included at least three credit unions–the $3.4 billion Redstone Federal Credit Union of Huntsville, Ala.; the $701 million Vantage Credit Union of Bridgeton, Mo.; and the $1.35 billion Central...
The out-of-the-blue October closure of Pano Logic, a Redwood City, Calif.-based provider of virtual end user systems, shocked its clients.
Goldman Sachs and Morgan Stanley have agreed to pay $557 million in cash payments and other assistance to help mortgage borrowers.
J.P. Morgan, others named in sale of $2.2 billion in failed mortgage-backed securities that led to collapse of WesCorp, U.S. Central and Southwest Corporate.
This year was a transformative year for credit unions. It was a year in which credit unions made the transition from the losses of recession to the stability and growth of recovery. During the year, the industry topped $1 trillion in assets and grew strongly to approach 94 million members.
Ninth suit filed so far by NCUA in the sale of toxic mortgage-backed securities to corporate credit unions.
Calling it one more bait-and-switch operator, the NCUA sues Credit Suisse Securities in the collapse of corporate credit unions.