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Loan Modification

: Loan Modification & Home Loan News

Banks Fix Sour Commerical Loans, Lenders ?Extend and Pretend?

By Moe Bedard

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Some banks have a special technique for dealing with business borrowers who can’t repay loans coming due: Give them more time, hoping things improve and they can repay later. Banks call it a wise strategy. Skeptics call it “extend and pretend.” A Portland, Ore., bank has extended the original 2007 loans taken out to purchase [...]

Full post as published by Loan Modification & Home Loan News on July 08, 2010 (boomark / email).

Lawsuits and Settlements

Class Action Filed Against Banks in Foreclosure Proceedings
Class Action Filed Against Banks in Foreclosure Proceedings

Immigrant SSI
US Federal Government agrees to extend benefits in class action settlement.

Lenders Fined
Ryland Group Inc. settles $370,000 questionable lending suit.

KeyBank USA
alleging the bank offered loans for fraudulent vocational schools.

Loan Backers
Mortgage Lenders Network pays $855,000 bankruptcy settlement for unfunded mortgages.

SunTrust HELOC Loan Termination
SunTrust HELOC allegedly violated clients contracts by decreasing, freezing, or terminating HELOC loans.

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