Lender Processing Services Inc. is in talks with regulators that could lead to a settlement of more than $200 million over improper and fraudulent foreclosure paperwork after the 2008 credit crisis, according to people briefed on the discussions.
Customers of IndyMac Bancorp Inc., the California mortgage lender that failed two years ago, would recover some of their $265 million in lost deposits under a proposal offered by House lawmakers to the financial-overhaul bill.
Washington Mutual Inc. filed a revised reorganization plan yesterday in anticipation of tomorrow’s hearing on the explanatory disclosure statement. The modified plan is based on an amended proposal for a global settlement with the Federal Deposit Insurance Corp., JPMorgan Chase & Co . and creditor groups.
JPMorgan Chase & Co., the bank that incurred a $6.2 billion trading loss last year, will elect Linda B. Bammann and Michael A. Neal to its board and named Lee R. Raymond as lead independent director, giving him more powers.
Citigroup Inc. is removing the last traces of its government bailout by persuading investors to buy almost three times the subordinated debt it issued seven months ago as it restores profitability after the financial crisis.
Developer Norman Radow expected some thanks in April when he offered to repay a $35 million defaulted loan on a 32-story San Diego condominium project he had taken over, originally financed by failed Corus Bank. Instead, his new lender urged him to keep the money.
Bank of America Corp. and its Countrywide Home Loans unit were accused of racketeering in a lawsuit filed by two Indiana residents claiming that perjured affidavits were used to foreclose on their home.