Local

Borrowers Still Bounced Around

Photo: clipart.com

Borrowers Still Bounced Around

Iowa officials are back in talks with the nation’s top home mortgage companies, seeking better treatment for homeowners facing possible foreclosure. Under terms of last year’s settlement, Wells Fargo, Bank of America and others agreed to assign a single employee to each borrower seeking a loan modification to help cut through the red tape. Iowa Attorney General Tom Miller says in many cases, borrowers are still being bounced around.

Other mortgage companies involved include J-P Morgan Chase and Citigroup. Another part of the agreement was that the companies would stop foreclosure proceedings once a homeowner has finished the paperwork for a loan modification. Instead, Miller says the banks are asking for more information.

The new protections for borrowers are part of a 25-billion dollar settlement reached with the banks in an investigation of shoddy loan foreclosure practices.

Recent Headlines

4 hours ago in National

Consumers flexing their muscles

shopping

U.S. consumer spending regained momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015.

4 hours ago in Agriculture

Farm Bureau Poll Shows Local Regulation Preferred

Scott VanderWal

A poll released this week from the American Farm Bureau shows Chesapeake Bay watershed residents want state and local control…

4 hours ago in Agriculture

Iowa Corn President Pleased New WRDA Bill Being Planned

Captiol 2

The Senate Environment and Public Works Committee is reviewing the nation’s ailing water infrastructure system and planning on introducing a…

4 hours ago in Agriculture

ASA Director Says Russia Soybean Ban Likely Political

soybeans 1

Starting Monday, Russia is banning imports of U.S soybeans due to what it calls phytosanitary concerns related to the risk…

4 hours ago in Agriculture

NCBA Working With CME On Volatility Concerns

2006-09-30 13.29.12

The National Cattlemen’s Beef Association has put together a working group with CME to address volatility problems in the cattle…