Bankruptcy

The three companies agreed to pay a total of $74 million in remediation.

If the tally included loans with some form of payment relief, the rate would be close to 8%.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

Moody's says anchor stores like J.C. Penney and Neiman Marcus represent only a small portion of CMBS retail exposure, but their deteriorating fortunes will hasten the decline in credit quality of CMBS-held loans backed by Class "B" and "C" malls.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

A bankruptcy judge will be asked to sign off on the sale of BHF's Shoreline portfolio in Chicago and will hold an initial Chapter 11 hearing on another portfolio.

A bankruptcy court judge denied a lender's motion to foreclose on properties controlled by an Austin real estate investor. But the judge then issued a warning, saying an exit plan better be ready by Feb. 2.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

The owners of the former 3M corporate campus filed under Chapter 11 of the Bankruptcy Code, which cancelled a scheduled foreclosure auction of the Austin property.

Elizabeth Warren rolled out a plan to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, including those that involve mortgage lending.

The U.S. Trustee overseeing the bankruptcy filing by Ditech is objecting to certain fees and expenses sought by Weil, Gotshal & Manges, among others.

IndiSoft will continue to support the distressed-borrower assistance platform formerly known as Hope LoanPort after the nonprofit that runs it winds down operations at the end of this year.

Flagstar Bank expects to recover $1 million of its loan to defunct reverse mortgage lender Live Well Financial following the sale of the collateral that secured it.

Stearns Lending canceled plans for an auction after almost two-thirds of its noteholders approved a bankruptcy reorganization proposal that would solidify Blackstone's ownership of the company.

Bankrupt mortgage servicer Ditech Holding Corp. cleared the way for the $1.8 billion sales of its businesses by agreeing to preserve some homeowner claims like the right to fix mistakes on their loans.

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.

Live Well Financial CEO Michael Hild has been charged with misrepresenting the value of a bond portfolio in parallel actions by the U.S. Attorney's Office and the Securities and Exchange Commission.

Bankrupt mortgage servicer Ditech Holding Corp. saw its reorganization plan rejected on Wednesday after a federal judge ruled the company couldn't sell its mortgage-servicing rights and reverse-mortgage business free and clear of consumer claims.

New York Attorney General Letitia James is monitoring how the bankrupt Ditech Holding Corp. handles borrower-sensitive issues like foreclosure proceedings, and is backing the involvement of a consumer creditors' committee.

Stearns Holdings and certain subsidiaries have filed for Chapter 11 bankruptcy as part of a restructuring agreement that could reduce debt, increase Blackstone's stake in the company and preserve jobs.