[US] la bombe hypothécaire semble faire jurisprudence !

[3dsman]

Phev, j'ai fait remonter ton topic des Alt A avec mise à jour....

cool, merci ca faisait longtemps!

[ventus]

NY times
5/11/10
Banks Brace for Costly Fights Over Mortgage Mess
http://dealbook.blogs.nytimes.com/2010/ ... f=business

Even as investors put aside their worries on Friday about the effect of the foreclosure mess on bank stocks, new signs emerged of what is likely to be a long and expensive legal battle for the financial services industry over mortgages gone bad.

Citigroup disclosed in a regulatory filing that it was being sued by several investors, including Charles Schwab and the Federal Home Loan Bank of Chicago, in an effort to force Citigroup to buy back soured mortgages that the investors contended did not conform to proper underwriting standards.

Meanwhile, Wells Fargo said in a filing that it “cannot estimate the possible loss or range of loss” from these cases, and Bank of America said in a filing that investors holding $375 billion worth of mortgage securities had filed similar suits.

Still, Bank of America faces a different effort by other investors, including the Federal Reserve Bank of New York and Pimco, the giant money management firm, to force it to buy back a portion of roughly $47 billion in mortgages they hold. Neither the $375 billion nor the $54 billion figure reflects this push, because those investors have yet to sue.

Indeed, Bank of America’s chief executive, Brian T. Moynihan, has signaled that the threat of forced buybacks will not be resolved quickly — or cheaply.

Fannie et Freddie annoncent qu'ils retrouvent pour le moment 57 cents pour 1$ sur les foreclosure. Cela risque encore de diminuer.