JPMorgan paying $45 million to settle mortgage suit
JPMorgan Chase & Co is paying the federal government $45 million to settle a lawsuit alleging it charged veterans hidden fees in mortgage refinancings.
Government Details Mortgage Pact, Promises Tough Oversight
The government released the fine print of its landmark $25 billion mortgage settlement, and promised to closely police the banks' pledges to bring widespread housing relief, even while letting them dodge admission of wrongdoing.
As Jobs Reports Show Growth, Economists Present Divergent Visions of the Recovery's Future; Is Washington Listening?
Economists agree the current labor recovery is creating some jobs, but disagree as to which groups will benefit the most -- and what American society will end up looking like -- as a result. Their disagreements are full of useful insight that could be the base for future policies, if only policymakers were listening.
Court OK Of $25 Billion Mortgage Deal To Be Sought Monday
The $25 billion settlement between five large U.S. banks accused of abusive mortgage practices on the one side and federal and state government officials on the other side that was announced Feb. 9 will be filed in federal court on Monday, people familiar with the matter said.
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Bank of America Defrauded Mortgage Modifiers, Whistleblower Claims
Bank of America, N.A., fraudulently sought to limit home-owner mortgage modifications under the Home Affordable Modification Program so as to avoid millions in losses, says a whistleblower complaint unsealed in federal court Wednesday.
15-Year US Mortgage Rate Hits New Low
U.S. 15-year fixed-rate mortgage declined to a new record low of 3.13 percent in the week ending March 8, according to Freddie Mac.
Whistleblower says BofA defrauded HAMP
Bank of America NA prevented homeowners from receiving mortgage-loan modifications under a federal program in order to avoid millions of dollars in losses while benefitting from financial incentives for participating in the program, according to a complaint unsealed in federal court Wednesday.
Top After Market NYSE Gainers (AMTG, SLT, FAF, UAM, HT, IRE, ISS, SSW, TG)
The top aftermarket NYSE gainers Tuesday were: Apollo Residential Mortgage, Sterlite Industries, First American Corp, Universal American Corp, Hersha Hospitality Trust, Bank of Ireland, iSoftStone Holdings, Seaspan Corp and Tredegar Corp.
Obama offers mortgage relief to millions of homeowners
President Barack Obama on Tuesday announced a cut in fees on many government-backed mortgages that he said could help millions of homeowners refinance, part of an election-year push to boost the shaky housing market.
Obama Expands Housing Relief to Military, FHA Borrowers
The U.S. government will cut fees on federally insured mortgages and move to expand home-loan relief to military veterans, President Barack Obama announced Tuesday.
Post-Market NASDAQ Gainers (SHFL, RAIL, CRZO, AEZS, CLWR, MTGE, ROSE, CSIQ, CIENA, ZGNX)
The top after-market NASDAQ gainers Monday were: Shuffle Master, Freightcar America, Carrizo Oil & Gas, Clearwire Corp, American Capital Mortgage Investment, Rosetta Resources, Canadian Solar, CIENA Corp and Zogenix.
Limbaugh Advertisers Continue to Boycott Radio Show After Sandra Fluke Comments
As of Sunday, seven companies have pulled their advertisements from Limbaugh's radio show after the conservative commentator called a Georgetown law student a prostitute and insisted she post online sex videos if she wanted free contraceptive coverage.
Justice Dept. Casts Wide Net with Mortgage Subpoenas
A U.S. Justice Department inquiry into the packaging and sale of home loans by the biggest U.S. banks casts a wide net and appears to significantly overlap with other enforcement efforts, according to people who have viewed subpoenas sent to the firms.
The Month in Housing: Is February's Recovery Real?
There were signs of improvement in U.S. housing data released in February, but warmer weather could have been as much of a factor as strengthening market fundamentals, according to industry experts.
U.S. Mortgage Rates Fall to 3.90 Percent
U.S. 30-year fixed rate mortgage rates fell to 3.90 percent in the week ending March 1, down from 3.95 percent in the prior week, according to Freddie Mac.
Bank of America Considers Checking Account Fee Revamp: Report
Bank of America Corp. is planning to introduce a monthly fee for its customers holding checking accounts unless they agree to bank online, buy more products or maintain certain balances, the Wall Street Journal said.
Fannie Mae and Bank of America's Bad Romance; Mortgage Meltdown Killed Relationship
Like scorned lovers, Bank of America (NYSE:BAC) and Fannie Mae, the government-controlled mortgage giant, are having a very public falling out.
JPMorgan says may face SEC action on mortgage bonds
JPMorgan Chase & Co said it may face federal enforcement actions stemming from two investigations into mortgage-backed securities that went bad in the financial crisis.
Bernanke Plays Killjoy in Pessimistic Speech to Congress
U.S. Federal Reserve Chairman Ben Bernanke played killjoy Wednesday morning, delivering a somewhat pessimistic assessment of the nation's economic condition in a semi-annual address to the House of Representatives.
Goldman Sachs, Wells Fargo, JPMorgan May Face SEC Charges
Goldman Sachs Group Inc., Wells Fargo & Co. and JPMorgan Chase & Co. have been warned by the Securities and Exchange Commission that they might face inquiries tied to mortgage-backed securities offered to investors several years ago.
Mortgage purchase applications jumped last week: MBA
Applications for U.S. home mortgage purchases jumped last week as interest rates dipped, though demand for refinancing waned, an industry group said on Wednesday.
Goldman Gets Wells Notice from SEC: Filing
The Securities and Exchange Commission notified Goldman Sachs Group Inc that it may file a civil case against the bank related to a $1.3 billion offering of subprime mortgage securities, Goldman said in a regulatory filing on Tuesday.
Wells Fargo, Goldman Sachs May Face SEC Action Over Mortgage Bonds
Wells Fargo & Co. and Goldman Sachs Group Inc. said Tuesday that they were facing inquiries from the Securities and Exchange Commission over civil claims connected to sales of mortgage-backed securities.
Woman from Iconic Tsunami Photo Reunited With Family (PHOTOS)
A year ago, when the powerful 2011 Tohoku earthquake and tsunami struck the coast of Japan, thousands of families were affected and many lost their close ones.
Bank Earnings Hit 5-Year High in 2011; Revenue Falls -- FDIC
U.S. banks reported a 23 percent earnings surge at the end of last year, which made 2011 the most profitable period for the banking industry in five years. However, the growth in profits was marred by the lenders’ falling revenue.
Five Tips for U.S. Home Buyers
Mortgage interest rates continue to fall, amid concern about a sluggish U.S. economy and the European government debt crisis -- but U.S. home prices are declining in many markets, as well. What should Americans who are possibly thinking about buying a home do now?
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