SEC Probes Rental Home Values in Private-Equity Bond Deals

SEC Probes Rental Home Values in Private-Equity Bond Deals U.S. securities regulators are investigating whether bonds backed by single-family rental homes and sold by Wall Street’s biggest residential landlords used overvalued property assessments. Radian Group Inc.’s Green River Capital unit is among companies that received a request for information from the Securities and Exchange Commission … Read more

Chain of Title: A No Trespassing Sign in Front of a Foreclosure

Favorite promotion of Chain of Title yet: on a No Trespassing sign in front of a foreclosure — David Dayen (@ddayen) May 6, 2017 ~ ~~~ David Dayen’s Chain of Title Confirms What You Always Suspected: The Game is Rigged Chain of Title should be required reading in every college-level business ethics class in America. … Read more

Wells Fargo Claws Back Millions From John Stumpf, Carrie L. Tolstedt, Over Account Sales Scandal

“In its report, the board said as of last Friday, it decided to claw back from Mr. Stumpf an additional $28 million of incentive compensation paid in March 2016 under an equity grant made in 2013. In September it announced $41 million in clawbacks from Mr. Stumpf. The board is also clawing back Ms. Tolstedt’s … Read more

The American Dream, Twice Removed… And Remember, It’s a Big Club, and You Ain’t In It!

There will be a resurgence in foreclosures. And then, if they are lucky to still have a job income, we’ll also welcome them to the renters club. ~ The American Dream, Twice Removed I can’t avoid linking that to earlier periods of American poverty (see the photos below), says The Automatic Earth’s Raul Ilargi Meijer, … Read more

How a Cruel Foreclosure by BOA Drove a Couple to the Brink of Death

  How a Cruel Foreclosure Drove a Couple to the Brink of Death A married couple resorted to self-harm after being physically and psychologically terrorized by Bank of America over their house—until a judge fined the bank $46 million. “Franz Kafka lives… he works at Bank of America.” Judge Christopher Klein’s words kick off an … Read more

When It Comes to Wall Street, Preet Bharara Is No Hero

When It Comes to Wall Street, Preet Bharara Is No Hero by Jesse Eisinger ProPublica After his election in 1968, President Richard Nixon asked Robert Morgenthau, the US Attorney for the Southern District of New York, to resign. Morgenthau refused to leave voluntarily, saying it degraded the office to treat it as a patronage position. … Read more