The person familiar with Litton said he had examined loans that met the criteria for a government modification, but were denied it, sometimes because Litton employees made mistakes in how they calculated the borrower’s income. Other loans were denied...

A Chicago Chase customer contacted Ann Hilton Fisher of AIDS Legal Council  in March of 2011 after his account was charged $12 because he didn’t have a single direct deposit of at least $500 into his checking account, even...

A lack of transparency in loan servicers’ decision-making processes often frustrates homeowners applying for help from the Home Affordable Modification Program (HAMP). If homeowners were turned away from HAMP, their servicer was not required until recently to provide more...

Ed Gorman of the National Community Reinvestment Coalition wrote in an email to supporters: Right now, Congress is beginning to draft the FY 2012 Transportation-HUD Appropriations bill. As part of this process, U.S. Representatives can electronically submit appropriations requests,...

“The initiative is part of a new Cook County Circuit Court call that intends to move confirmed abandoned properties through the foreclosure process and stabilize neighborhoods affected by blight. BofA began a similar program in Detroit, helping to identify...

Today, the Financial Services Committee of the House of Representatives will vote on legislation that would decidedly weaken the CFPB—or, as Elizabeth Warren put it, “stick a knife in its ribs.”  Rep. Spencer Bachus (R-AL) introduced a bill (H.R....

The U.S. Department of the Treasury recently released a report to Congress outlining three options for the future structure of the housing finance system. Panelists will discuss current challenges facing mortgage lending and the impacts of potential changes to...

As some noted yesterday in the comments to my post, these trends should not be surprising.  Communities of color in Chicago and across the country have been devastated by the foreclosure and economic crisis.  They have seen disproportionately high...

When Roxie was laid off from her job as an echocardiogram technician at a hospital, her finances came under significant strain. Although she had some money saved and found freelance technician work, her income was less than half what...

The chart uses data reported under the Home Mortgage Disclosure Act and looks at the change in conventional mortgage refinance originations in the Chicago region between 2008 and 2009 (the most recent year for which data is available).  It...