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US Bank Mortgage - Today's Marketplace on KARE-TV - 1/25/2011

Chicago can pursue part of Wells Fargo predatory lending case

U.S. District Judge Gary Feinerman ruled on Monday that Illinois’ Cook County, which includes Chicago, may pursue federal Fair Housing Act claims against Wells Fargo, to the extent the bank’s alleged “equity stripping” practices boosted the cost of administering and processing a higher number of foreclosures.

But Feinerman dismissed claims alleging harm from lost property taxes, the need to combat crime and blight, racial segregation and other factors, calling them “ripples” that “flow far beyond” Wells Fargo’s alleged misconduct.

He pointed to a May 2017 U.S. Supreme Court decision, involving similar claims by the city of Miami against Wells Fargo and Bank of America Corp, allowing cities to pursue FHA claims so long as they could establish a “direct” link between the alleged misconduct and the resulting harm.

The lawsuit began in November 2014, nearly two years before San Francisco-based Wells Fargo began facing broad denunciations and a series of probes by regulators and politicians into its opening of unauthorized accounts and treatment of customers.

Can a Canadian obtain a mortgage from a US bank for a house in Canada?

With US mortgage rate dropping and a strong Canadian dollar, I am interested in finding out if I can have a portion or all of my mortgage from an American bank. Is this feasible? Please advise.

Yes this is possible many banks lend in multiple countries. This is more prevelant in the residential market.