Hooray? Higher mortgage rates spurred home sales uptick
The country's economic engine seems to be running in reverse as more expensive borrowing spurs home sales, and an uptick in borrowing sends mortgage rates back down. The recent surge in mortgage rates,...
View ArticleHousing fixes could hit house prices
Mending the broken U.S. housing finance system won't be painless. Costs on some mortgages will rise this fall as part of the Obama administration's proposal to reform housing finance, including the...
View ArticleTreasury tiptoes toward housing exit
Don't look now, but the government is gingerly tugging at one of the smaller slats propping up the mortgage market. Treasury said Monday it will sell a big portfolio of mortgage-backed bonds over the...
View ArticleFeds take billion-dollar whack at Deutsche Bank
The Justice Department wants to take a billion-dollar chunk out of the Wall Street mortgage-kiting machine. The U.S. attorney for Manhattan sued Deutsche Bank (DB) Tuesday, claiming its MortgageIT unit...
View ArticleFreddie Mac and Fannie Mae: Too little, too late for struggling borrowers?
Lending giants Freddie Mac and Fannie Mae are swooping to the rescue just as the housing market turns the corner. FORTUNE -- Freddie Mac and Fannie Mae announced this week they were making it easier...
View ArticleBanks may need to raise $4.5 billion
Fed votes to up the amount of capital banks have to have to cover loan losses, but leaves rules for subprime mortgages mostly in place. FORTUNE -- The Federal Reserve voted Tuesday to approve rules...
View ArticleDefault would be catastrophic for big banks
If you think the JPMorgan and Wells Fargo earnings reports were disappointing, just wait until the fourth quarter if the shutdown continues and a debt default occurs. By Cyrus Sanati FORTUNE --...
View ArticleHome values rise at fastest pace since bubble years
But other data suggest that the real estate market is finally cooling off.
View ArticleIt's still a lot cheaper to buy than rent
That is, if you can afford a down payment and qualify for financing. FORTUNE -- Home prices have been rising steadily for more than year, with the most recent Case-Shiller index reading showing the...
View ArticleSunTrust to pay nearly $1 billion to settle mortgage abuse allegations
SunTrust Banks has agreed to pay $968 million to settle a federal probe into its mortgage practices from before and after the housing crash, the U.S. Department of Justice said Tuesday. SunTrust, which...
View ArticleGoldman Sachs in $3.15 billion settlement with federal regulators
Goldman Sachs GS has agreed to pay $3.15 billion to repurchase mortgage-backed securities from Fannie Mae and Freddie Mac to settle accusations that it misstated the quality of the investments. The...
View ArticleHSBC settles mortgage case for $550 million
By Nate Raymond, REUTERS HSBC Holdings will pay $550 million to resolve a U.S. regulator’s claims that the British bank made false representations in selling mortgage bonds to Fannie Mae and Freddie...
View ArticleTime to give the housing market a shot of adrenaline
My kids once dragged me onto a gut-wrenching amusement-park ride called Pharaohs Fury. It consisted of a large, Egyptian-style boat that swung on a 40-foot-long pendulum. It took about two terrifying...
View ArticleWhy Fannie Mae and Freddie Mac should stop refinancing mortgages
As mortgage giants Fannie Mae and Freddie Mac near a deal that could lower barriers and restrictions on borrowers with weak credit, it's hard not to wonder if Americans have learned anything from the...
View ArticleU.S. mortgage applications reach six-year high
Applications for U.S. home mortgages surged by the most in more than six years last week as 30-year mortgage rates dropped below 4 percent for the first time since May 2013 on the back of falling U.S....
View ArticleLots of us have almost nothing saved for retirement
Haven't saved enough for your golden years? You're not alone. A new survey has found that nearly one-third of workers have less than $1,000 in savings and investments, USA Today reports. The Employee...
View ArticleThese Will Be the Hottest Real Estate Markets in 2016
We’re nearly a decade removed from the peak of the real estate bubble, and the U.S. housing market has finally returned to some semblance of normalcy. If you take a look at the Case-Shiller home price...
View ArticleWells Fargo Agrees To Blockbuster Mortgage Settlement
(Reuters) – Wells Fargo admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice...
View ArticleWarren Buffett and the Founder of Quicken Have a Business Connection Beyond...
The connection between Quicken Loans founder Dan Gilbert and billionaire magnate Warren Buffett became evident last month with news that Buffett was backing Gilbert’s surprise bid for Yahoo yhoo . But...
View Article5 Things You Need to Know About Donald Trump’s Debt
Over his long career, Donald Trump has frequently stumbled by amassing mountainous debt. Excessive borrowing forced him to the brink of personal bankruptcy in the real estate depression of the early...
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