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Big bank to pay $200m, admit fault in mortgage settlement

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Mortgage Professional America | 30 Jun 2014, 12:29 PM Agree 0
A large bank has agreed to pay the United States $200 million to resolve allegations of shoddy mortgage originating and underwriting. The bank also admitted fault in the case
  • SBHarkness | | 30 Jun 2014, 01:02 PM Agree 0
    But......they told us it was the Mortgage Brokers fault. Also, Two hundred million dollars may sound like a large sum of money to average people like you and I, but this is nothing more than a slap on the wrist. I am sure upper management made as much on their individual year end bonuses last year. In addition, US Bank IS NOT a big bank. A big bank is Bank of America, Wells Fargo, Chase Manhatten. US Bank is a regional bank based our of Oregon.
  • OTTO | | 30 Jun 2014, 02:51 PM Agree 0
    ANY OTHER NON-BANK LENDER, LIKE A MORTGAGE BROKER BUSINESS OR CORRESPONDENT LENDER WOULD HANG. THEY WOULD LOSE THEIR LICENSE AND THEIR LIVELIHOOD. HEY BIG BROTHER!?! WHY THE DOUBLE STANDARDS BETWEEN BIG CORPORATE AMERICA AND THE LITTLE ENTREPRENEUR? I KNOW BIG BROTHER AND HIS TALKIN(POLITICIANS)/SPINNING(MEDIA) HEADS ONLY PRETEND TO CARE FOR US THE LITTLE PERSON. THEIR THINKING IS MORE GLOBAL NOW AND WE JUST DON'T MATTER...
  • obama | | 30 Jun 2014, 03:00 PM Agree 0
    U.S. Bank is lighting their cigars with $100 bills laughing at this judgement.
  • winona | | 03 Jul 2014, 09:29 AM
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  • str8 8 | | 03 Jul 2014, 12:06 PM
    Deleted by moderator
  • | | 04 Jul 2014, 12:18 PM Agree 0
    Since when is US Bank not a BIG BANK? SB Have you looked deep into this mess?US Bank is the self appointed "Trustee" on 97% of all the foreclosures thus far and more are coming,and I would have to say I dont really care who orchestrated the mess I believe It was brokers,escrow,title,and real estate agents,the Big Banks prob but the idea into motion and are now perpetuating it 10 fold.Oregon has had its fair share of this but in the southern Ca area its been outrageous what people on all sides have tried to get away with.Going to share a story,I was working with the same broker for about 12-15 years and did maybe 15 mortgages with her so I felt as though I had a pretty good grasp on what and how home finance goes down.I also had been banking at one of the 5 Big Banks for the same amount of time and had a couple jumbo mortgages through them paid on time in full,they during the good old days used to send you or one the blue ink original deed that one signed with a stamp across the front"PAID IN FULL" ,I was also a "Premiere client"[those are their words} almost that whole stay at this bank.As I am typing this I cant stand to hear myself run down this story its pathetic Im just thankful that I am able and have the resources to fight it and all the bs in your biz and plan on fighting for a bit.Just remember these same things can happen to you.
  • Jewel Isom | | 18 Jul 2014, 12:01 PM Agree 0
    The only thing that would satisfy me and other TACPAYERS would be to see most of those at the TOP LOCKED UP IN JAIL FOR AS ALONG AS IT TAKED FOR THE COUNTRY TO RECOVER FROM THE HARM DONE.
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