Department of Justice

Once again, Residential Capital LLC is under attacked by the bankruptcy watchdog of the Department of Justice over a proposal to pay the top executives of the unprofitable mortgage company up to $3.3 million in incentives. Based on court documents filed by the U.S. Trustee, there is insufficient information provided by ResCap to show that […]

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The Residential Mortgage-Backed Securities Working Group, a federal task force formed by the Department of Justice, filed a lawsuit against a JP Morgan unit on Monday, for an alleged massive fraud in the packaging and selling of mortgage securities at the time when the housing market was booming. The case against Bear Stearns & Company, […]

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