Tuesday , June 18 2024

Tag Archives: Banking Reports

Wiley to resign

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D. Linn Wiley, chairman of the board of CVB Financial Corp. and its principal subsidiary, Ontario-based Citizens Business Bank, will resign. Wiley will step down as board chairman and as a board member effective Dec. 31, according to a statement released Monday. Raymond V. O’Brien III, owner and chief executive …

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BofA nears record agreement

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Bank of America Corp. and the Justice Department are close to an agreement in which the bank will pay between $16 million and $17 million to resolve alleged mortgage misconduct by the bank. The bank has also agreed to pay $9 billion in cash to the federal government, various government …

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State part of nationwide mortgage abuse settlement

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California Attorney General Kamala Harris announced Tuesday that a $550 million settlement has been reached between the state and federal government and SunTrust Mortgage. The three-year settlement, which affects 47 other states, will provide payments to some California residents related to foreclosure and servicing abuses and mortgage origination, according to …

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Fewer bad mortgages in IE

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The Inland Empire’s mortgage crisis continues to ease. The rate of foreclosures on outstanding loans in the two-county region fell nearly one percentage point in January compared with January 2013, according to report originally published in The Press-Enterprise. That was below the national foreclosure rate of 1.97 percent during the …

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State reaches settlement with mortgage company

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California announced this week that it has reached a settlement with Ocwen Financial and Ocwen Loan Servicing in connecting with Ocwen’s violation of loan servicing laws. The settlement requires $2 billion worth of loan modifications for homeowners whose mortgages are being handled by Ocwen if those mortgages are in default …

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Bank merger announced

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Mission Oaks Bancorp. in Temecula will merge with Santa Rosa-based AltaPacific Bancorp. The transaction, announced earlier this week, is an all-cash arrangement worth an estimated $3.5 million, according to a report that was first published by The Press-Enterprise. The transaction is expected to close during the second quarter. AltaPacifica bought …

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