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Chicago Mortgages

A collection of news and information related to Chicago Mortgages published by this site and its partners.

Top Chicago Mortgages Articles see all

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  • Wells Fargo settlement: A predatory lender pays up

    Wells Fargo settlement: A predatory lender pays up
    Baltimore's effort to recover millions of dollars in lost revenue stemming from the wave of home foreclosures that followed the collapse of the housing market in 2007 was vindicated Thursday when Wells Fargo Bank, the nation's largest mortgage lender, agreed to pay at least $175 million to settle claims that it discriminated against African-American and Hispanic borrowers by steering them into high-cost, subprime mortgage loans. Baltimore will receive $7.5 million, and seven other communities — Chicago, Cleveland, Los Angeles, New York, Philadelphia, the San Francisco Bay Area and Washington — will benefit as well
  • FHA policies helped cause foreclosure crisis

    FHA policies helped cause foreclosure crisis
    Imagine that a federal agency wanted to hurt America's working-class families on purpose. How would it inflict maximum damage? It might start by aggressively marketing homeownership to marginal borrowers. It would tell them that bad credit scores aren't...

    Wells Fargo agrees to pay $175M settlement in pricing discrimination suit

    Wells Fargo agrees to pay $175M settlement in pricing discrimination suit
    About 1,000 Baltimore-area residents are expected to receive thousands of dollars each under a landmark $175 million settlement between the U.S. Department of Justice and Wells Fargo over accusations of discriminatory lending practices. Under the terms...

    Gansler urged not to sign foreclosure settlement

    As state attorneys general across the country consider whether to settle with big banks over shoddy and illegal foreclosure practices, some Marylanders are urging Douglas F. Gansler not to sign on the dotted line. Their efforts are part of a nationwide...

    The feds investigate the mortgage mess: What took so long?

    The feds investigate the mortgage mess: What took so long?
    In this week's State of the Union address, President Obama announced to cheers the formation of a new Justice Department unit tasked with going after the big banks and mortgage companies whose reckless lending led to the collapse of the housing market and...