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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

Displaying items 1-12
  • 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...
  • 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,...
  • 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...
  • Investors' flight to Treasuries seen to have a short-term benefit to consumers

    Investors watched stock markets swoon and economists fretted about the nation's fragile recovery on the first day of trading after the unprecedented downgrade of the nation's credit rating. But amid the gloom Monday were a few bright spots for consumers:...
  • Local foreclosures decline, but still higher than U.S. average

    Local foreclosures decline, but still higher than U.S. average
    Foreclosure activity in the Chicago area continues to decline but remains above the national average. That's bad news for local home sellers who have a foreclosed home nearby because while home sales prices are decidedly up year-over-year, they could be...
  • BofA pays AIG $650 million to settle mortgage disputes

    NEW YORK (Reuters) - Bank of America agreed to pay American International Group Inc $650 million to settle long-running legal disputes over defective mortgage-backed securities sold in the run-up to the financial crisis. The deal, which the parties...
  • Some homeowners miss out on housing recovery

    Some homeowners miss out on housing recovery
    Scott and Caroline Schmauderer know all the acronyms and the nitty-gritty details of the federal government's various programs to help homeowners like themselves, whose plans were derailed by the housing bust. They read up on loan modifications, but...
  • Driving my Mercedes to pick up food stamps

    Driving my Mercedes to pick up food stamps
    — Sara Bareilles played softly through the surround-sound speakers of my husband's 2003 Mercedes-Benz Kompressor as I sat idling at a light. I'd never been to this church before, but I could see it from where I was, across from an old park,...
  • MetLife, Developer To Build $110 Million Industrial Distribution Center Near Atlanta

    MetLife Inc. announced Thursday it is teaming with a California developer to build a $110 million industrial distribution center near Hartsfield-Jackson Atlanta International Airport in Georgia. The New York life insurer, which has operations in...
  • Chicago picked as second city for housing program

    Chicago picked as second city for housing program
    Chicago will be the second city for the federal government's Neighborhood Stabilization Initiative, Mel Watt, director of the Federal Housing Finance Agency, announced Tuesday. The pilot program, announced for Detroit in May, is designed to help...