“Ghetto Loans” City accuses Wells Fargo of engaging in illegal “Reverse Redlining”
By BEN NUCKOLS (AP) BALTIMORE — A federal judge suggested Monday that he might restrict the scope of a first-of-its kind lawsuit filed by the city of Baltimore against mortgage giant Wells Fargo Bank N.A. The city accuses Wells Fargo of engaging in illegal “reverse redlining” — targeting black neighborhoods for bad loans that resulted … Read more
REALITY TV: Private Sector and Government Response to the Mortgage Foreclosure Crisis
Laurie Goodman, Senior Managing Director, Amherst Securities, and veteran MBS analyst serves up painful facts about mortgage defaults. Click Here To View Archived Webcast Here’s how Goodman narrates: “Most borrowers do not default because of negative equity alone. Generally a borrower experiences a change in financial circumstances, misses a payment on their mortgage and then … Read more
