Lawsuits Canvas Top Mortgage Lenders

Class action lawsuits are popping up across the nation, not a surprise to many.  Law firms are announcing their formation of sub-prime lending task forces and teams.
The top players in the mortgage service industry all face litigation: Bank of America, Wells Fargo & Co., JP Morgan Chase & Co. and Citigroup Inc.  In total 195 [...]

Citigroup Agrees To Foreclosure Prevention Plan

Citigroup has reached an agreement with the Senate on legislation that will allow bankruptcy courts to modify the terms of residential mortgages so that judges would have the power to reduce mortgage principal.
Sen. Richard Durbin (Dem, Illinois) re-introduced the bill to the Senate.  The plan may be included in the economic recovery package being drafted

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