Even as the Obama administration presses the lending industry to get more mortgage loans modified, the practice of forcing borrowers to sign away their legal rights in order to get their loans reworked is a tactic that some servicers just won’t give up on.
Waivers requiring borrowers to More…
Wells Fargo announced today it expects to turn a $3 billion profit for the first quarter of this year, some surprisingly good news from the troubled banking sector, CNNMoney reports.
Those results exceed expectations from analysts, and they sparked a stock market rally early today.
Incredibly, Republican presidential nominee Sen. John McCain changed his surprise mortgage plan this week to make it even easier on lenders, Politico noted.
After introducing the idea in Tuesday’s debate, a summary of the proposal on McCain’s Website noted that lenders taking part must recognize the losses they’ve More…
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