Wells Fargo Accused Of Preying On Black, Latino Homebuyers In CaliforniaThe city of Sacramento accused Wells Fargo of a "long-standing pattern and practice" of illegal lending in minority and low-income communities that reduced home values, limited property tax revenue and drove up foreclosures.
Wells Fargo Sees Rare Profit DipFirst quarter earnings slipped 1.5-percent to $5.8-billion dollars, down from a record $5.9-billion a year earlier, and the first decline in four years for the country's largest mortgage lender.
UC Berkeley Study Looks At Underwater Mortgage Problem, Supports Richmond’s Eminent Domain PlanThe report, titled “Underwater America: How the So-Called Housing ‘Recovery’ is Bypassing Many American Communities” is a first-of-its-kind look at the magnitude of the underwater mortgage issue.
Public Employee Pensions Gets $299M In JPMorgan Chase Settlement JP Morgan Chase & Co. will pay nearly $300 million to California's public employee and teacher pension funds as part of a settlement related to mortgage-related investments.
Brentwood Woman Charged In Mortgage Fraud CaseA Contra Costa County woman and Las Vegas man face charges for their alleged involvement in a multi-million dollar mortgage scam that bilked more than a thousand homeowners.
Californians Wrongfully Foreclosed On Receiving $1,500 ChecksMore than 200,000 Californians will each receive checks worth nearly $1,500 this month as part of the national mortgage settlement, the state attorney general's office said Tuesday.
California AG Harris Sues JPMorgan Chase Over Debt CollectionCalifornia's attorney general sued one of the nation's largest banks Thursday, alleging that JPMorgan Chase & Co. used illegal tactics in its efforts to collect debts from more than 100,000 credit card holders.
Rise In All-Cash Home Sales Frustrates Bay Area First-Time BuyersReal estate firms are reporting a record number of Bay Area homes are being bought with cash, making it increasingly difficult for first-time homebuyers to get their offers accepted.
Many Contra Costa Mortgages Still Underwater Despite Rising Home PricesA large portion of property owners in Contra Costa County remain underwater, making payments on mortgages higher than the value of the home, even though overall home prices in the San Francisco Bay Area are climbing upward once again.
California To Receive More Than $20 Billion From Mortgage SettlementCalifornia should receive at least $20.6 billion from a settlement with the nation’s major mortgage lenders, the largest share of any state and about $2 billion more than expected when the agreement to assist homeowners was announced last year, according to a report released Thursday.
Feds Sue Wells Fargo Over FHA-Insured Loan DefaultsThe federal government has sued Wells Fargo Bank in New York, blaming the nation’s largest originator of home mortgages for thousands of loan defaults over the last decade.
Brentwood Man Charged In Multi-Million Dollar Mortgage ScamA Contra Costa County man is facing charges that he bilked more than 1,000 homeowners in a multi-state, multi-million dollar mortgage scam.