MORTGAGE

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 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.

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.

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 & 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.

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.

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.

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?

Bank of America had attempted to get an $8.5 billion settlement over bad Countrywide mortgage-backed securities approved in New York state court over the objection of some angry investors.

Even the world's most revered investor makes mistakes. Warren Buffett admitted he was dead wrong when he predicted a housing recovery last year in his annual letter to shareholders of Berkshire Hathaway, released over the weekend.

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.

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.

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.

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.

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.

Arizona and Florida were ground zero for the housing boom and subsequent crash, but the multifamily sector is finally showing signs of life, with developers again planning new projects.

Federal Reserve Bank of San Francisco President John Williams defends the Fed's aggressive monetary policy, citing continuing reverberations from the housing crash.

The recent U.S. housing bubble and resulting severe recession discouraged an entire generation of potential home buyers, who see ownership of a residence as far riskier than preceding generations did, a top U.S. central banker said Friday.

January sales of new single-family homes in the U.S. declined 0.9 percent to a seasonally adjusted annual rate of 321,000, but December sales were revised upward, suggesting a nascent housing market recovery.

The Bank of America Thursday said that it would no longer provide new mortgages to Fannie Mae following the escalation of disagreement over who should be bearing the cost for defective mortgages.

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.