After Robo-Signing Settlement, LPS Cutting Jobs from its Default Solutions Group in Jacksonville

LPS cutting jobs in Jacksonville Lender Processing Services Inc is laying off 37 people in Jacksonville, a spokeswoman confirmed late Monday. The Jacksonville-based provider of technology and services to the mortgage and real estate industries (NYSE: LPS) will cut those full- and part-time positions from its default solutions group, “which at times needs to adjust … Read more

American Banker: The Myth of Predatory Borrowers (VIDEO)

The Myth of Predatory Borrowers A BusinessWeek cover sparked controversy recently because many saw it as racist. But it also stirred concerns because it reinforced a persistent myth about the financial crisis: that it was caused by predatory borrowers, not lenders. ~ 4closureFraud.org Tweet

‘Racist’ Businessweek Cover Depicting Ethnic Minorities Rollicking in Cash from a Rebounding Housing Market Triggers Uproar

‘Racist’ Businessweek cover triggers uproar Bloomberg Businessweek editor Josh Tyrangiel has said the magazine “regrets” what critics have described as a “super-racist” cover on the latest issue. “Our cover illustration last week got strong reactions, which we regret,” he said in a statement sent to Politico’s Dylan Byers and NBC Latino. ”Our intention was not to incite … Read more

60 Minutes: China’s Real Estate Bubble (VIDEO)

China’s Real Estate Bubble China’s economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history. China’s real estate quandary Financial analyst Gillem Tulloch tells Lesley Stahl that the Chinese government has sent mixed messages on real estate – trying to contain the bubble … Read more

The Foreclosure Wars, How Do We Explain This Collective Madness? (In a Word, It’s Fascism)

The Foreclosure Wars, How Do We Explain This Collective Madness? (In a Word, It’s Fascism) Theoretically at least, the United States was, at some points in time and for some people, a nation of laws presided over by a fair and open judicial system and, in the larger context, governed by an elected group of … Read more

FBI Warns Sequestration Will Hamper All Their Hard-Hitting Wall Street Investigations

FBI Warns Sequestration Will Hamper All Their Hard-Hitting Wall Street Investigations WASHINGTON — More than four years after the financial crisis, not a single Wall Street executive has been jailed for playing a role in the creation of the toxic financial products that fueled the real-estate bubble, which were in some cases designed simply to … Read more

New York City Leads Jump in Homeless

New York City Leads Jump in Homeless An average of more than 50,000 people slept each night in New York City’s homeless shelters for the first time in January, a record that underscores an unsettling national trend: a rising number of families without permanent housing. Families have become a larger share of the nation’s homeless … Read more

Wealth Inequality in America (VIDEO)

Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is. ~ 4closureFraud.org Tweet

Securitization Lobby in Disarray After Most Directors Quit

Securitization Lobby in Disarray After Most Directors Quit The main trade association for the securitization industry is in turmoil after most of the board resigned in a dispute with the group’s executive director over governance and bonuses, according to six people with knowledge of the matter. The exodus at the American Securitization Forum puts the … Read more