Tag Archives: Ally Financial

HUD Report: Banks Err. Can Colorado Afford to Ignore Bank’s Abusive Practices?

Last month the top five lenders (Bank of American, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial) received a $25 Billion settlement. The settlement was supposed to hold them accountable for abusive practices and to commit $20 billion towards financial … Continue reading

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Foreclosures Likely on the Rise

As negotiations over the $25 billion settlement dragged on, the banks involved in the settlement (Ally Financial, Bank of America, JPMorgan Chase, Wells Fargo and Citi) waited for the details. While they waited, they slowed down, or stopped the foreclosures they … Continue reading

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Colorado to deliver $204.6 million worth of relief to Colorado homeowners

Colorado Attorney General John Suthers announced yesterday that, out of the $25 billion multistate settlement with Ally Financial, Bank of America, JP MorganChase, Wells Fargo and Citi, eligible Colorado homeowners are entitled to a disbursement of $204.6 million. $32.49 million will be disbursed directly … Continue reading

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Bank of America to return $36 million of fees

The Federal Trade Commission (FTC) announced Bank of America (BAC) mortgage-servicing department will refund $36 million in fees to settle allegations of default-related fees. BAC Home Loans Servicing charged many homeowners fees for default-related services that were allegedly illegal or … Continue reading

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Banks reach settlement, have to PAY homeowners

The federal government reached a landmark $25 billion agreement today with the nation’s five largest mortgage servicers: Bank of America Corporation, JPMorgan Chase & Company, Wells Fargo & Company, Citigroup Inc. and Ally Financial Inc. (formerly GMAC). The agreement is suppose … Continue reading

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