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Wells Fargo
Justin Sullivan, Getty Images
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Wells Fargo Settles Lending Discrimination Case for $175M

Wells Fargo Bank will pay at least $175 million to settle accusations that it discriminated against African-American and Hispanic borrowers in violation of fair-lending laws, the Justice Department announced Thursday.

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foreclosure
Flickr User BasicGov
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Residential Capital Mortgage Seeks Chapter 11 Protection

Ally Financial Inc.'s mortgage division known as ResCap is seeking Chapter 11 bankruptcy protection.

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Sen. Menendez Wants Refinancing Changes for Homeowners

New Jersey US Senator Robert Menendez is joining California Democrat Barbara Boxer to introduce legislation which is aimed at giving struggling homeowners a chance to refinance at lower rates and save money.

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Bank of America
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Bank Of America Tests Rent Program For Struggling Homeowners

Bank of America has launched a pilot program that will allow some homeowners at risk of foreclosure to become renters and stay in their homes.

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Bank of America will reduce mortgages for underwater borrowers
(Flickr: lewisha1990)
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Bank of America Will Reduce Loans for Underwater Borrowers

Bank of America is providing mortgage relief to about 200,000 homeowners.

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Obama: Mortgage Deal Turns Page on “Reckless” Era

President Barack Obama says a $25 billion settlement between mortgage lenders and states over foreclosure abuses "will begin to turn the page on an era of recklessness that has left so much damage in its wake."

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