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. ~ 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