Brian Browdie

BankFinancial has sold nonperforming loans and foreclosed-upon real estate with a combined value of $22.7 million to unnamed buyers via two bulk sales.

The Royal Bank of Scotland has won a bid to dismiss a lawsuit that stems from its sale of securities backed by U.S. residential mortgages.

Hacktivists who claim responsibility for a series of cyberattacks on at least ten banks worldwide are vowing to reprise the electronic assaults on five of them in the coming days.

In their lawsuit, the funds claimed that the ratings agencies had misrepresented their independence from the banks that sold the mortgage backed securities.

Though 81% of consumers expressed satisfaction with banks on the mortgage process, 56% blame slow execution as among the most irksome aspects of the process.

Lawsuits by the Federal Housing Finance Agency that charge Bank of America, Citigroup, HSBC and Credit Suisse with wrongdoing in the sale of securities backed by residential mortgages may advance.

Provident New York Bancorp has hired Luis Massiani to be its next chief financial officer.

According to figures compiled by National Mortgage News, UBS was one of the largest underwriters of nonprime MBS during the housing boom.

The decision means the company must prepare to defend itself against allegations by the Federal Housing Finance Agency of wrongdoing in the sale of securities backed by residential mortgages.

Lawsuits that charge Goldman Sachs and Deutsche Bank with misleading mortgage investors may proceed.

American International Group, which stands to join a list of financial institutions deemed too-big-to-fail, may be looking to unload its thrift unit.

The Department of Housing and Urban Development extended a 90-day moratorium on foreclosures to three counties in Rhode Island on Monday after the president declared them to be disaster areas.

The survey, however, offers no specifics on residential loan officers, who according to National Mortgage News, are doing quite well this year.

Zillow, a publicly traded online real estate company, has added information on 1.8 million pre-foreclosure and foreclosed homes to its website.

As part of the settlement, Royal Bank of Scotland has agreed to refrain from financing, purchasing or securitizing subprime mortgages unless it has sufficiently reviewed the underlying loans.

Ellie Mae said it has bolstered the capabilities of its Encompass360 software with the Encompass Docs Solution.

Assurant said its American Security unit has reached an agreement with California's Department of Insurance to reduce rates for lender-placed insurance in the state by 30.5%.

Strong mortgage banking revenue helped boost profits at BancorpSouth.

Consumers who pursue debt settlement services may find themselves facing not relief but even steeper financial losses, attorneys are warning.

Oklahoma has issued the first compensation checks to residents who lost their homes after lenders assured them their loans would be modified.