The Obama administration said on Wednesday it will keep the pressure on two big U.S. banks to help more troubled borrowers from losing their homes by withholding payments to the banks under a foreclosure-prevention program for the third straight quarter.
U.S. mortgage loan delinquencies are projected to decline to five percent by the end of 2012 from around six percent at the end of 2011, according to TransUnion.
The Obama administration said on Wednesday it will keep the pressure on two big banks to help ease the foreclosure crisis, withholding payments to them under a foreclosure relief program.
Fannie Mae and Freddie Mac have prevented almost 2 million foreclosures since the enterprises were taken under federal conservatorship in 2008, according to a report by the Federal Housing Finance Agency (FHFA).
Congressman Barney Frank on Wednesday asked his colleagues to hold a hearing on alleged mortgage abuses at Ally Financial, a day after the attorney general from his home state of Massachusetts requested that lawmakers investigate.
Actress Octavia Spencer seemingly came out of nowhere to steal this summer's sleeper hit, The Help, about a group of African American maids in the early 1960s working in white households in Mississippi.
U.S. mortgage applications increased by 12.8 percent in the week ending Dec. 2, compared to the previous week, according to the Mortgage Bankers Association (MBA).
Applications for U.S. home mortgages jumped last week, recouping the previous week's steep decline as interest rates continued to fall, an industry group said on Wednesday.
Occupy Wall Street protesters joined elected officials and community organizations on Tuesday in a march intended to highlight the human toll of the housing crash in East New York, culminating in placing a recently evicted family in a foreclosed upon home.
Bank of America agreed on Tuesday to pay $315 million to settle claims involving mortgage securities issued by Merrill Lynch.
With California once again running short on revenue, Governor Jerry Brown said on Monday he would circumvent the legislature and press a statewide ballot measure to raise the state's sales tax and increase tax rates on the wealthy for five years.
At both the individual and collective level, Americans have created and embraced a culture of debt. Spurred by our gluttony, we have developed an untenable habit of spending beyond our means, and it must be stopped or else generations to come will be saddled with debt, left unable to harness the American dream and prosper because it simply will no longer exist.
The United States Postal Service announced steps Monday to eliminate its next-day delivery of First Class mail in an effort to avoid bankruptcy in 2012.
The insolvency of an Islamic mortgage lender in Canada may hinder the growth of sharia-compliant finance in North America, where the industry has struggled to gain traction in the absence of a supportive regulatory framework.
The BCS released its bowl game selections on Sunday night and within hours Las Vegas casinos have released the betting lines on all 35 games.
Investment firm Beacon Capital Partners has closed on an investment in 195 Broadway in Lower Manhattan as part of a $280 million recapitalization of the property, according to city records.
In the financial crisis-era, with its constrained public revenue from a smaller U.S. workforce, almost every government agency is forced to belt-tighten -- including the U.S. Postal Service, which will implement historic cutbacks starting in the spring of 2012.
Nine SEC schools will go bowling in the NCAA's BCS postseason, including six teams from the AP Top 25. Two SEC teams, LSU and Alabama, will also battle for the national championship title.
Here is the complete BCS bowl games schedule for the 2011-2012 season, including the match-ups and where you can watch the games.
The official college football bowl game schedule was released on Sunday night after yet another exciting finish to the regular season.
In the wake of a lawsuit filed by the Massachusetts attorney general, GMAC Mortgage, a subsidiary of Ally Financial, said on Friday that it would stop buying mortgage loans in the state after Dec. 5.
Massachusetts Attorney General Martha Coakley hit five banks with a lawsuit over foreclosure practices in the midst of multistate settlement negotiations.
