The federal regulator of Fannie Mae and Freddie Mac is arguing that principal reductions for home loans would benefit the banks that hold secondary debt while weakening the mortgage giants' finances.
The Fed chairman said U.S. job market conditions remain weak despite three months of strong hiring and that the improved employment data seem to be out of sync with the overall pace of economic growth.
China Construction Bank , the world's No.2 lender valued at $193 billion, joined smaller rival AgBank in reporting earnings lower than the market had expected as China's slowing growth squeezes its top lenders.
In conducting an investigation of possible fraud in relation to Wells Fargo & Co.'s sale of almost $60 billion in residential mortgage-backed securities, the U.S. Securities and Exchange Commission on Friday requested that a federal court order the country's largest mortgage lender to comply with its subpoenas.
Analysis by the two government-backed lenders, which have cost taxpayers over $150 billion since their 2008 bailout, shows loan forgiveness would keep hundreds of thousands of Americans in their homes while saving money.
Interest rates on the 30-year, fixed-rate mortgage rose above 4 percent for the first time since October 2011, following increases in bond yields, Freddie Mac reported.
Ninety-five-year-old actress and great-aunt of Paris Hilton, Zsa Zsa Gabor, has been in and out of the hospital since the early 2000's. The ailing 95-year-old is making headlines as her much younger husband, Prince Frederic Von Anhalt and her daughter, Constance, Francesa Hilton, prepare to duke it out in court over a conservatorship of Gabor.
U.S. existing home sales fell to 4.59 million in February, 0.9 percent below upwardly revised sales figures in January, the National Association of Realtors (NAR) said Wednesday.
The Federal Reserve plans to fine eight more bank holding companies for improper home mortgage foreclosures, the latest fallout from the so-called robo-signing scandal in which banks filed foreclosure documents without verifying their accuracy.
Last week's rise in 10-year U.S. Treasury yields from 2.0 percent to 2.3 percent suggests that it might not be long before mortgage rates increase from their current record low of just above 4 percent, according to Capital Economics.
In Sweden, monetary transactions made with physical cash are down to three percent of the national economy... and the rest of the world may be closer to cashless than you think.
Washington Mutual Inc , one of the biggest corporate casualties of the 2008 financial crisis, on Monday emerged from bankruptcy protection, just two weeks after Lehman Brothers Holdings Inc also emerged from Chapter 11.
The Treasury Department said on Monday it made a $25 billion profit on sales of mortgage-backed securities acquired during the financial crisis, part of its ongoing efforts to wind down taxpayer-financed bailout programs.
You can't blame investors for feeling a bit squeamish regarding deploying new money in the U.S. stock market these days, despite the Dow Jones Industrial Average's (DJIA) recent rise to 13,000. Where's the Dow headed in the next three months?
U.S. mortgage rates rose with the improving economy, but remained near historic lows in the week ending March 15, Freddie Mac reported Thursday.
The inspector general for the U.S. Department of Housing and Urban Development said banks involved in the nationwide settlement on foreclosure practices significantly hindered its investigation.
Finally, a mall the founder of the Mormon faith, Joseph Smith, could warm up to ... though it may not be the best shopping spot for your run-of-the-mill teenager.
Demand for home purchases picked up for the third week in a row last week, though applications for refinancing sagged, an industry group said on Wednesday.
The companies whose shares are moving in pre-market trade on Wednesday are: Francesca's Holdings Corp, Zions Bancorporation, Regions Financial Co, RADVision Ltd, Clearwire Corp, LSI Corp, SunTrust Banks, Citigroup, American Capital Mortgage Investment Corp and Fifth Third Bancorp.
Five major U.S. banks have agreed to pay $25 million to New York State over their use of an electronic mortgage database that the state said resulted in deceptive and illegal practices that led to more than 13,000 foreclosures.
Top banks impeded a federal inquiry into their foreclosure processes, according to a report released Tuesday, dragging their feet on turning over documents and blocking investigators' attempts to interview bank employees.
A full-text of the Federal Open Market Committee's statement from March 13 meeting.
