Richmond, Calif., made headlines this year when city officials began considering a plan to use eminent domain to take over underwater mortgages. The proposal would force banks to sell the mortgages at a loss, though at current market values. Then a firm hired by Richmond would fund and finance new mortgages at reduced rates for the current homeowners.
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OTTAWA — Canadians are not only overwhelmingly happy with the quality of service they receive from their own bank, but the majority are also satisfied with the banking fees and service charges they are forced to pay.
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The nation’s leading banks continue to fall short in servicing consumer home loans despite last year’s national settlement that was intended to fix problems laid bare by the foreclosure crisis.
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Two more of High River’s financial institutions are showing their commitment to this town and their community through a series of programs and advice offered to clients during a difficult time.
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You’re a comparison-shopping ninja, and you go after the lowest mortgage rates with all the gusto of a four-year-old at an Easter egg hunt. You contact a dozen lenders. You compare interest rate quotes and start your home loan application. But when it’s time to lock in your mortgage rate, you’re suddenly told that your original quote is NOT available – and the rate that IS available is much higher!
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Nervous banks are demanding fresh appraisals and inspections before providing new mortgages or renewing existing loans on potentially flood-affected properties.
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Four of the nation’s leading mortgage servicers have not complied fully with new standards for handling home loans and must correct those problems or face fines up to $5 million for each continuing failure, the federal government said Wednesday.
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When it comes to satisfaction, bank customer service has not always been leading industries — but it seems that banks are finally listening to customers and trying to meet their needs.
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Consumers who opt in for overdraft protection of ATM and debit card transactions at some of the nation’s largest banks are more vulnerable to increased costs and involuntary account closures, a new federal study reported Tuesday.
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Canadian Western Bank celebrated its 100th consecutive profitable quarter on Thursday.
The Edmonton-based bank said second-quarter net income available to shareholders was up eight per cent to $43 million. Diluted earnings per common share rose four per cent to 54 cents, while adjusted cash earnings per common share were unchanged at 55 cents.
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