The lawsuit accuses the bank of intentionally steering minority borrowers into high-cost loans
An investigation found that more than 500 homeowners were victimized under the scheme
As home inventory and interest rates remain low in many parts of the nation, consumer confidence in housing is beginning to return. This is particularly true in California where supply cannot meet the demand of new homebuyers and investors. It is not uncommon that reasonably priced listings receive a deluge of competing offers. With the additional availability and attractiveness of owning a bank-owned property (more house for less money), some brokers have received more than 80 offers on one REO property. With the level of multiple offers at a record high, managing and securing the best offers while maintaining quality service may prove challenging.