MORTGAGE

U.S. consumer debt falls in Q4 on mortgage balances

U.S. households continued to shave debt in the fourth quarter as mortgage balances declined, while there were tentative signs Americans are increasingly willing to spend, according to a report released on Monday by the New York Federal Reserve.

BofA mortgage move not likely to have big consumer impact

Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank to charge less attractive mortgage rates.

Fed To Sell Rest of Toxic Waste Bonds From Bailout: Bloomberg

At least one large financial institution has approached the Federal Reserve Bank of New York with an offer to buy out the remaining mortgage-backed toxic waste bonds it received from AIG as collateral for a $19.5 billion bailout in 2008, according to Bloomberg News, as banks are looking to profit from what many see as an incipient turnaround in the U.S. housing market.

U.S. Mortgage Rates Rise to 3.95%

U.S. 30-year fixed-rate mortgage rates rose to 3.95 percent in the week ending Feb. 23 from a record low of 3.87 in the previous week, Freddie Mac said.

FHFA Attempts to Find Middle Ground for Fannie, Freddie

The Federal Housing Finance Administration (FHFA), overseer of Fannie Mae and Freddie Mac, detailed a plan on Tuesday for the companies' uncertain futures, grappling with the challenges of political hostility, reluctant private investors and a fragile housing market.

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Lloyds

Lloyds to Strip Bankers of Bonuses: Report

British bank Lloyds will strip five current and former senior bankers of more than 1 million pounds in bonuses over their role in the mis-selling of payment protection insurance (PPI), the Daily Telegraph reported on Monday.
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Lloyds to Strip Bankers of Bonuses: Report

British bank Lloyds is to strip five current and former senior bankers of more than 1 million pounds in bonuses over their role in the mis-selling of payment protection insurance , the Daily Telegraph reported on Monday.
Realtor Mac McCollum stands in front of a foreclosed home in Bullhead City, Arizona

Rampant Foreclosure Abuses Suspected Across U.S.

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.
Copenhagen. Source: flickr.com/seier

OECD to Northern Europe: Raise Your Property Taxes!

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.
CFPB

CFPB Aims to Regulate Debt Collectors, Credit Bureaus

The Consumer Financial Protection Bureau proposed a rule to include consumer reporting agencies and debt collectors in its efforts to supervise nonbank financial companies. The rule's passage would put those sectors of the lending industry under the umbrella of federal oversight for the first time.
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