Finance & Mortgage
Cuomo Boosts Stature After N.Y. Voters OK School Budget Tax Caps
May 17 2012 12:21 PM EDT
New York Gov. Andrew Cuomo won a major boost this week after suburban and upstate voters approved 99 percent of their school budgets, most of which adhered to the Democratic governor?s new property tax cap.
Freddie Mac To Name Former E*Trade Chief Donald Layton New CEO: WSJ
May 09 2012 2:11 PM EDT
Freddie Mac, the second-largest mortgage guarantor, will announce the appointment of Donald Layton, former head of E*Trade Financial Corp., as a new CEO as early as Thursday, the Wall Street Journal said.
Fannie Mae Reports $2.7 Billion Profit In 1Q, Won't Require More Bailout Money
May 09 2012 11:27 AM EDT
Fannie Mae (OTC: FNMA), the government-controlled mortgage giant that was brought to its knees during the housing crisis, said Wednesday it had net income of $2.7 billion in the first quarter as home prices declined at a slower rate than in the previous quarter, and its book of business improved.
Mortgage Rates Fall On Poor Job Growth: Bankrate.com Report
April 12 2012 10:46 AM EDT
Mortgage rates fell this week over disappointing March job growth numbers, uncertainty about the ongoing debt crisis in Europe, and slower projected growth in corporate earnings, Bankrate.com reported Thursday in its weekly national survey.
Rampant Foreclosure Abuses Suspected Across U.S.
February 16 2012 10:09 PM EST
A report this week showing rampant foreclosure abuse in San Francisco reflects similar levels of lender fraud and faulty documentation across the United States, say experts and officials who have done studies in other parts of the country.
OECD to Northern Europe: Raise Your Property Taxes!
February 16 2012 5:45 PM EST
The Organization for Economic Cooperation and Development released a report Tuesday calling on Germany to raise its property taxes dramatically. The group has also called on Denmark, Norway, and the U.K. to do the same.
Real Estate Appraiser Counters NAR Forecast, Warns Falling Inventory Isn't Sign of Housing Recovery
February 15 2012 4:25 PM EST
Real estate appraiser Jonathan Miller disagrees with NAR's prediction of low housing inventory resulting in rising (or at least stabilizing) prices, claiming that it merely reflects a slowdown in foreclosures that will be reversed with the robo-signing agreement.
Mortgage Settlement: Details May Not Yet Be Finalized, Says American Banker
February 11 2012 3:02 PM EST
A source has told American Banker that the terms of this week's massive national mortgage servicing settlement have not been finalized, and that politics drove Thursday's announcement
Michael Williams, CEO of Fannie Mae, Resigns
January 10 2012 5:36 PM EST
Michael Williams, CEO of mortgage giant Fannie Mae, is resigning, the company announced on Tuesday.
U.S. Mortgage Rates End Year at 3.95 Percent, Near Historic Low: Freddie Mac
December 29 2011 6:03 PM EST
U.S. 30-year fixed-rate mortgage rates averaged 3.95 percent in the week ending Dec. 29, according to Freddie Mac.
Mortgage Rates - Can They Drop Even More?
December 20 2011 12:10 PM EST
At least in one region of the county at dinner parties, it's the question that's on the lips of prospective home buyers: will home mortgage interest rates fall more? The average fixed rate for a 30-year mortgage for borrowers with good credit has declined to 3.92 percent,
N.Y. Judge Bashes SEC Over $285 Million Fraud Settlement With Citigroup
November 28 2011 2:37 PM EST
U.S. District Court Judge Jed S. Rakoff issued an acerbic order blocking the U.S. Securities and Exchange Commission's proposed $285 million deal with Citigroup that is "neither fair, nor reasonable, nor adequate, nor in the public interest."
How Much Did Previous Fannie and Freddie CEOs Make?
November 16 2011 5:29 PM EST
A list of compensation packages given to previous Fannie Mae and Freddie Mac CEOs during the past decade or so was released in a report produced by the House Oversight and Government Reform committee.
Fannie, Freddie Executives Say They Need Big Paychecks to Protect Taxpayer Money
November 16 2011 3:52 PM EST
Top executives at Fannie Mae and Freddie Mac defended their lucrative pay before a House panel on Wednesday, one day after lawmakers approved suspending top executive compensation packages and moving the firms' thousands of employees onto a pay scale that lines up with federal financial regulators.
U.S. 30-Year Mortgage Rate Drops to 3.99 Percent: Freddie Mac
November 10 2011 1:06 PM EST
The U.S. 30-year fixed-rate mortgage rate dropped slightly to 3.99 percent in the week ending Nov. 10, according to Freddie Mac's Primary Mortgage Market Survey.
New York, Delaware AGs to Complete 'Critical' Part of Mortgage Crisis Probe Soon
November 07 2011 7:02 PM EST
State attorneys general Eric Schneiderman of New York and Beau Biden of Delaware have teamed up to investigate mortgage crisis.
Four Million U.S. Foreclosures Eligible For Review: Federal Regulators
November 01 2011 2:53 PM EDT
Mortgage borrowers with homes that were foreclosed on between 2009 to 2010 will have a chance for an independent review, the Treasury Department's Office of the Comptroller of the Currency (OCC) announced on Tuesday.
Freddie Mac: Mortgage Rates Hold Steady
October 20 2011 10:44 AM EDT
Average mortgage rates essentially held steady this week as they remain near their 60-year lows.
Home Builder Confidence Rises Despite Weak Housing Market
October 18 2011 12:23 PM EDT
Confidence among home builders is up in October, although most still rate the market as poor.
Freddie Mac: Renting Continues to Rise, Especially Among Young
October 17 2011 5:19 PM EDT
With the housing market still struggling from the burst of the housing bubble several years ago, rental housing has been on an upswing.