NY suing Wells Fargo in mortgage crisis settlement - FOX 35 News Orlando

NY suing Wells Fargo in mortgage crisis settlement

Posted: Updated:
By MICHAEL GORMLEY
Associated Press

ALBANY, N.Y. (AP) - New York's attorney general says he's suing Wells Fargo to force compliance with terms of last year's national mortgage case settlement.

Attorney General Eric Schneiderman also says he's dropping a similar action against Bank of America, which has agreed to reform its lending system.

The settlement of charges of improper lending practices sets standards that prohibit lenders from pursuing foreclosures while negotiating loan modifications. The standards require the banks to acknowledge refinancing applications in writing within three business days, notify borrowers of any missing documents within five days and make decisions on complete applications within 30 days.

Schneiderman said Tuesday the settlement has brought relief to thousands of New York homeowners during the housing crisis and recession.

Wells Fargo says it remains committed to the national settlement.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Your MoneyMore>>

  • Studies: office layout can affect your mental and physical health

    Studies: office layout can affect your mental and physical health

    Thursday, April 24 2014 5:13 PM EDT2014-04-24 21:13:30 GMT
    Leaving the office, most of us feel pretty exhausted. Studies now suggest that we can blame much of what ails us physically and mentally on the layout of our workspace. American companies standardized the sprawling square room divided by cubicles or nothing to foster team atmosphere. But newer research suggests that the open-plan office actually raises stress while lowering motivation and focus and maybe even reducing life-expectancy.
    Leaving the office, most of us feel pretty exhausted. Studies now suggest that we can blame much of what ails us physically and mentally on the layout of our workspace. American companies standardized the sprawling square room divided by cubicles or nothing to foster team atmosphere. But newer research suggests that the open-plan office actually raises stress while lowering motivation and focus and maybe even reducing life-expectancy.
  • Cough syrup popular in celebrities' 'sizzurp' cocktails pulled from market

    Cough syrup popular in celebrities' 'sizzurp' cocktails pulled from market

    Thursday, April 24 2014 8:00 AM EDT2014-04-24 12:00:01 GMT
    A prescription cough syrup that some celebrities like to mix with soda and hard candy is being pulled from the market, pharmaceutical company Actavis confirmed. The cough syrup-soda concoction is often called "sizzurp."
    A prescription cough syrup that some celebrities like to mix with soda and hard candy is being pulled from the market, pharmaceutical company Actavis confirmed. The cough syrup-soda concoction is often called "sizzurp."
  • Beware what your 'Digital Shadow' says about you

    Beware what your 'Digital Shadow' says about you

    Wednesday, April 23 2014 11:00 PM EDT2014-04-24 03:00:19 GMT

    To promote a video game called "Watch Dogs," the game's maker has launched a website called Digital Shadow to data-mine your Facebook account. When given permission, digital shadow analyzes all the public information about you and your friends available on the social network to create a file detailing everything from your most-used words to your annual salary to your personality.

    To promote a video game called "Watch Dogs," the game's maker has launched a website called Digital Shadow to data-mine your Facebook account. When given permission, digital shadow analyzes all the public information about you and your friends available on the social network to create a file detailing everything from your most-used words to your annual salary to your personality.


Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices