Car Loan Settlements Can Be A Scam

Automobile / Car Loan Settlements – how the scam works Unfortunately this is a pretty nasty scam that can result in reposession and the tow truck driver can’t help you. Here is how the scam works. The finance company that finances your vehicle asks you specific questions to determine a target amount that makes you …

Santander Payment Protection Insurance Busted

What do HSBC and Santander have in common? Aside from Santander buying HSBC’s auto loan business in the U.S., they both have insurance problems. Santander UK yesterday revealed that its half year profits had dropped after it set aside more cash to cover claims over the mis-selling of payment protection insurance (PPI). In the six …

Countrywide Must Face MBIA Fraud Claim, Appeals Court Rules

Bank of America Corp. (BAC) and its Countrywide Financial Corp. unit must face a fraud claim brought by bond insurer MBIA Insurance Corp., an appeals court ruled. The New York court yesterday upheld an April 2010 trial- court denial of Countrywide’s motion to dismiss the claim against it in the 2008 suit. MBIA alleges that …

The slowdown in commercial loans

Barclays’ estimates show that in 2009, nearly $270 billion of mortgages on apartment complexes, shopping malls, and office buildings would require refinancing. In its November 17 report, Fitch Ratings said that there is every reason for commercial loan defaults to accelerate because banks and insurance companies would try to manage their balance sheets by restricting …