Search All Louisville Homes

U.S. Halts Mortgage Fees To Three Big Banks

The Obama administration on Thursday halted payments to three of the largest U.S. banks until they make “substantial” improvements to their performance in a mortgage assistance program.

J.P. Morgan Chase & Co., Bank of America Corp., and Wells Fargo & Co. can no longer receive fees from the program known as the Making Home Affordable Program, until they make changes to ensure their processes work better, the Treasury Department announced. The program seeks to help troubled borrowers avoid foreclosure.

The big banks have been broadly criticized for foreclosure documentation errors, and in many cases, institutions have assigned only a single employee to rapidly approve numerous foreclosures. Read more.

Post a Comment

Search Louisville Homes

From our Blog

Posts By Category

All Categories Appraisals (2) Architecture (2) Assisted Living (1) Buyers (13) Distinctive Louisville Homes (1) Economic News (21) Home Improvement (20) Homeowners Insurance (2) Interior Design (1) Kentucky Select Properties (3) Living in Louisville (79) Louisville Economic Development (4) Louisville Food (4) Louisville Market Trends (31) Louisville Music (1) Louisville Parks (3) Louisville Real Estate Videos (2) Louisville Roots (1) Luxury Real Estate Trends (12) Millennial Buyers (1) Mortgage (4) Mortgage News (5) New Construction (2) News and Press Releases (60) Open Houses (1) Philanthropy (2) Property Videos (1) Real Estate & Technology (5) Real Estate Agents (2) Real Estate Branding (2) Real Estate Investing (4) Real Estate Laws and Regulations (5) Real Estate Marketing (1) Real Estate Trends (15) Relocation Tips (6) Remodeling (2) Retirement Real Estate (3) Schools (1) Smart Homeownership (6) Tips for Selling (13)

Posts By Month

Grab Our RSS Feed

BE THE FIRST TO KNOW!

Sign up for daily email updates straight from the MLS. Be among the first to know when new homes hit the market.