We need your help. The Chronicle of Higher Education and ProPublica have teamed up to untangle student debt, and we're seeking information colleges or universities gave you about your loans and other financial aid. We're also creating a Facebook community for people who are struggling with student debt, want to help inform our reporting, or just want to learn more about student loans and keep abreast of new developments. Specifically, we're looking for the "financial aid package," "award letter" or "offer letter" that you received from a college — the one you’re going to or ones that you decided not to go to. We won’t use your name or details that might identify you without first contacting you and getting your permission. We’ve done this ... Continue reading →
PARK CITY — Georgene Clotfelter recently hired a realtor to sell her Park City home, but was surprised to find out country records showed she no longer owned it. When she contacted her mortgage lender, Chase Bank, she says a representative told her the bank had no record of a sale. "I don't even want to hear the word bizarre anymore, because everybody I talk to uses the word bizarre," Clotfelter said. "It's stupid. It really is stupid." Having spent decades working in the mortgage finance business, Clotfelter said she's yet to see anything like the mess she finds herself in today. The problems began back in 2009 when she was having trouble making her mortgage payments and began the process of applying for a ... Continue reading →
A foreclosed home stands boarded up on February 9, 2012 in Islip, New York. (Getty Images) States have diverted $974 million from this year’s landmark mortgage settlement to pay down budget deficits or fund programs unrelated to the foreclosure crisis, according to a ProPublica analysis. That’s nearly forty percent of the $2.5 billion in penalties paid to the states under the agreement. The settlement, between five of the country’s biggest banks and an alliance of almost all states and the federal government, resolved allegations that the banks deceived homeowners and broke laws when pursuing foreclosure. One part of the settlement is the cash coming to states; the deal urged states to use that money on programs related to the crisis, but it didn’t require them ... Continue reading →
As part of the mortgage settlement finalized in April, 2012, the five biggest banks agreed to pay $2.5 billion to 49 states and the District of Columbia. ProPublica contacted every state to determine whether the money will be going to consumer-focused efforts related to the settlement or not. See below for a breakdown of each state's share. This graphic will be updated periodically as more states announce their allocations. Click on each state for more information. State Total $ Avg Delinquency Rate Aid to Homeowners General Fund To Be Determined Investigations All Statesz $2,539,900,000 .% $526,800,000 $973,800,000 $1,013,200,000 $36,800,000 AlabamaB $25,300,000 5.74% $0 $2,500,000 $22,800,000 $0 AlaskaA $3,300,000 2.35% $0 $0 $3,300,000 $0 ArizonaD $97,800,000 9.75% $0 $50,000,000 $47,800,000 $0 ArkansasC $12,800,000 5.12% $12,000,000 $800,000 ... Continue reading →
Tower climber Jay Guilford poses atop a cell tower. He was one of 11 climbers to die while working on AT&T jobs during a wave of cell service expansion from 2006 to 2008. Photo courtesy of Bridget Pierce. Jay Guilford was a tiny but vital cog in the carrier’s plans. On a clear evening in May, Guilford was dangling, 150 feet in the air, from a cell tower in southwest Indiana. He had been sent aloft to take pictures of AT&T antennas soon to be replaced by 3G equipment. Work complete, Guilford sped his descent by rappelling on a rope. Safety standards required him to step down the metal pole, peg by peg, using a special line that would catch automatically if he fell. But ... Continue reading →
When former pharmaceutical executive Andrew G. Bodnar pleaded guilty to white-collar crime in 2009, the judge didn't throw the book at him—he ordered him to write one. Reflect upon "the criminal behavior in this case so that others similarly situated may be guided in avoiding such behavior," said the judgment from U.S. District Judge Ricardo M. Urbina in Washington. And make it 75,000 words. The finished book, written during Dr. Bodnar's two-year probation, has been submitted into the court record. His lawyer—who says he had never heard of such a punishment for a crime—says the former Bristol-Myers Squibb executive has now completed his sentence, in a case in which he was accused of providing false information to regulators. The charge stemmed from negotiations with a ... Continue reading →
Fannie Mae Government-Sponsored Enterprise D.C. $116 B disbursed $23 B Freddie Mac Government-Sponsored Enterprise Va. $71 B disbursed $18 B AIG Received other federal aid. Click to see details. Insurance Company N.Y. $39 B returned / $68 B disbursed / $70 B committed $165 M General Motors Auto Company Mich. $23 B returned / $51 B disbursed $694 M Bank of America Received other federal aid. Click to see details. Bank N.C. $45 B returned / $45 B disbursed $5 B Citigroup Received other federal aid. Click to see details. Bank N.Y. $45 B returned / $45 B disbursed $12 B JPMorgan Chase Bank N.Y. $25 B returned / $25 B disbursed $2 B Wells Fargo Bank Calif. $25 B returned / $25 B disbursed ... Continue reading →
