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When I wrote my article on Blacks And Hispanics getting higher mortgage rates, the bank I mentioned at the time was my favorite whipping boy, Citigroup. Seems that another bank is being called onto the carpet for doing the same thing. Memphis and Baltimore have called out Wells Fargo for doling out high-interest subprime mortgages [...]
The Treasury Department today gave GMAC Financial Services another $3.79 billion dollars, bringing the total amount they’ve been given to more than $16 billion and, in effect, giving the government 56% ownership in the company. Who needs a quick loan? Supposedly, this new money is to help shore GMAC up to make sure they don’t [...]
On Monday, the Treasury Department decided it was time to get tough with mortgage lenders who have been participating with the government’s program to help people modify their loans to more affordable rates so they have a better chance on keeping their homes and being able to pay their mortgage for awhile, but aren’t giving [...]
After the last quarterly report of Citigroup’s big profit, which, as I pointed out then was a fluke because of a big sale they’d made, Citigroup has fallen back to reality and posted a loss of 3.24 billion yesterday. Man, I hate gloating, as it looked like I did when they were forced to continue [...]
