Tag: Countrywide

Lisa Madigan credits Reporter with initiating largest discriminatory lending settlements in U.S. history

Lisa Madigan credits Reporter with initiating largest discriminatory lending settlements in U.S. history
Journalism that is having its rightful impact. That’s what Illinois Attorney General Lisa Madigan called the work of The Chicago Reporter Thursday evening when she gave the publication credit for initiating the largest discriminatory lending settlements in the history of the United States. In a series of investigative stories, the Reporter uncovered that Countrywide Home... Read more »

Everything you want to know about the Reporter's investigations and the lawsuits they started

From the practice of redlining in the 1960s to predatory lending in the 2000s, racial disparities in housing have long played out in Chicago. And for much of that time, The Chicago Reporter has been there to dig up the dirt on why it’s happening and who is profiting from it. This timeline looks at... Read more »

Struggling IL homeowners, renters to get $20 million piece of big mortgage settlement pie

Struggling IL homeowners, renters to get $20 million piece of big mortgage settlement pie
Illinois Attorney General Lisa Madigan announced Wednesday that $20 million will make its way to statewide programs aimed at keeping folks in their homes and providing mortgage relief. That’s thanks to Madigan’s involvement in a national lawsuit against some of the country’s biggest lenders, which ended in a $26 billion settlement earlier this year–the second... Read more »
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Kelly speaks Friday on the article that set off a $335 million lawsuit

Kelly speaks Friday on the article that set off a $335 million lawsuit
Before the housing bubble burst, before Illinois Attorney General Lisa Madigan sued Countrywide for discriminatory lending practices and before the word foreclosure became as common as the word mortgage, if you were a black family in Chicago looking to buy your first home and the rates seemed unreasonably expensive, you might just assume that it... Read more »

The Chicago Reporter's top 10 accomplishments of 2011

The Chicago Reporter's top 10 accomplishments of 2011
As The Chicago Reporter prepares to celebrate its 40th anniversary in 2012, the Reporter’s Interim Publisher Kimbriell Kelly reminds us about some of the magazine’s top accomplishments this year. Here is the count down. Illinois Attorney General Lisa Madigan credited a 2008 Chicago Reporter investigation for spurring a $335 million settlement over Countrywide’s discriminatory lending. The... Read more »

Predatory lending, the mortgage meltdown and a $335 million settlement

Here’s yet another example of why investigative reporting matters. Today, Illinois Attorney General Lisa Madigan credited The Chicago Reporter for spurring a lawsuit that led to a $335 million settlement by Countrywide, a subsidiary of Bank of America, which deliberately steered well-heeled Latino and African-American homebuyers into subprime loans even though they qualified for better terms.... Read more »
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