BANK OF AMERICA

The Mortgage Servicing Process

Did Fannie Mae Overpay Bank Of America For Servicing Rights?

The taxpayer-owned Fannie Mae paid more than legally required to Bank of America Corp (NYSE: BAC) and 12 other lenders when it spent $1.5 billion in termination fees for servicing rights on 1.1 million loans between 2008 and 2011. The mortgage giant argues that while it paid a premium over the minimum required price, it paid for the transfers at an ?appropriate rate.?
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President of the German Constitutional Court Vosskuhle pronounces judgment on euro bailouts at the German Constitutional Court in Karlsruhe

Most Important Supreme Court Decision Of 2012: Six Things To Know

The most important court decision of 2012 will take place Wednesday in Germany, when the red-robed justices of the German Constitutional Court hand down a decision for which it is no hyperbole to say it could change the course of history. The Court is expected to rule over whether Germany is barred from contributing to the European Stability Mechanism, Europe's all-purpose bailout fund of which the German state is the major planned benefactor.
Proofpoint

Proofpoint CEO: Cloud-Based Security Software Is Meeting Threats To Major Enterprises

Proofpoint Inc. (Nasdaq: PFPT), the security software developer that conducted an April IPO, is confident it can beat bigger rivals like Symantec (Nasdaq: SYMC) in the market because it uses the cloud, offers lower cost of ownership and is spending cash to devise new products. So far, none of its accounts has been successfully cyberattacked, said CEO Gary Steele.
U.S. President Barack Obama tours Hurricane Isaac damage and recovery while in Louisiana

Democrats Open National Convention, Push For Obama's Re-election

The Democrats have gathered in thousands at the downtown football stadium at Charlotte, N.C., for the three-day Democratic National Convention starting Tuesday. The Party unveiled its formal 2012 election policy, ahead of the convention Monday night, advocating the strengths of their presidential candidate incumbent Barack Obama over Republican rival Mitt Romney.
Fed Chairman Ben Bernanke

Bernanke's Jackson Hole Speech - Live Blog: Will He Or Won't He QE3?

Two years after Federal Reserve Chairman Ben Bernanke announced plans for a massive second round of monetary stimulus -- so called QE2 -- at a yearly Fed summit in Jackson Hole, Wyo., the world's most powerful central banker returns, with markets primed for him to deliver on even more stimulus.
Bank of China

Chinese Banks' Bad Loan Nightmare

China's credit risk is probably much worse than the official non-performing loan (NPL) data suggests, according to Société Générale's China macro strategist Wei Yao.
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Citigroup Settles Shareholder CDO Suit For $590 Million

Citigroup Inc agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis.
US GDP

US 2Q GDP Revised Up To 1.7%, Stock Futures Point To Slight Gains

The U.S. economy expanded slightly faster than initially thought in the second quarter, but the pace of growth is still too slow to create enough jobs and drive down the unemployment. Economists are forecasting even slower growth in the second half of 2012, which will probably keep expectations of additional monetary stimulus from the Federal Reserve intact.
Barclays

How Much Will Libor Suits Cost Banks?

Banks involved in London interbank offered rate benchmark, or Libor, manipulations could be liable for billions of dollars in lawsuits from a slew of financial firms and investors who were affected by the distortions, according to reports.

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