Tag Archives: j p morgan chase co

Banks Remained Overwhelmed By Foreclosures

According to Dr. Thomas Sowell’s book, The Housing Boom and Bust, banks lose about $40,000 per foreclosed home. Banks do not want to be in the real estate business so they unload foreclosed homes as rapidly as possible. The longer … Continue reading

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The Collapse Of Credit Unions

Is Wall Street to blame for the collapse of five major credit unions? Several of the biggest banks are accused of misrepresenting the risk of mortgage-backed securities they sold. The WSJ reports: Federal regulators are blaming Wall Street’s biggest firms … Continue reading

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Regulators Ask 14 Biggest Mortgage Lenders To Reexamine Their Foreclosure Procedures

We’re coming to the end of a long federal and state investigation into the mortgage lending and foreclosing practices of the biggest lenders. HSBC, for instance, is halting its foreclosures in the United States. A gummed-up foreclosure market makes the … Continue reading

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