A manifesto for Occupy Wall Street
The authors are Reuters Breakingviews columnists. The opinions expressed are their own.
Stock Index Futures Signal Rebound; Europe Posts Gains
Stock index futures pointed to a slightly higher open on Wall Street on Monday, with futures for the S&P 500 up 0.61 percent, Dow Jones futures up 0.55 percent and Nasdaq 100 futures up 0.73 percent at 3:44 a.m. EDT.
Actor Burt Reynolds Facing Eviction from Florida Home
Television and film actor Burt Reynolds is in danger of getting evicted from his home in southeast Florida.
Attorney admits role in mortgage loan scheme
The United States Attorney for the District of Connecticut announced that John Bryk, 61, of Trumbull, has waived his right to indictment and pleaded guilty before United States District Judge Janet C. Hall in Bridgeport to one count of conspiracy to make a false statement in a Department of Housing and Urban Development transaction.
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Homeowners in foreclosure not paid mortgage for 17 months: Report
U.S. homeowners facing foreclosure action haven't made a mortgage payment in an average of 17 months, compared to 11 months two years ago, and the time frame may increase, according to a USA Today report.
New York chief judge assures legal help to needy homeowners who are facing foreclosure actions
New York's chief judge has taken steps to provide homeowners facing foreclosure legal representation free of charge.
SEC sues three former IndyMac executives for securities fraud
The U.S. Securities and Exchange Commission (SEC) has sued a former CEO and two former CFOs of failed mortgage lender IndyMac Bankcorp, accusing them of securities fraud.
Fannie defends legal aid for former execs
The head of Fannie Mae and his firm's government overseer on Tuesday defended the use of millions of taxpayer dollars to pay legal bills for former executives accused of fraud.
Fannie Mae fires Florida law firm Ben-Ezra & Katz
Fannie Mae has booted Florida-based foreclosure law firm Ben-Ezra & Katz from its retained attorney network after noticing that the firm was not handling its matters in strict compliance with proper procedures, ethical codes of conduct and legal requirements.
Consumers captive to bad home mortgage system
Many U.S. consumers have no choice and are held captive to home mortgage-related companies that are often aggressively fast, commit errors in paperwork and refuse to answer questions, and whose continuing problems are holding back the country's economic recovery, a top U.S. regulator said on Friday.
White House backs standard for mortgage servicers
The Obama administration favors creating a national standard for mortgage servicers such as Bank of America Corp and JPMorgan Chase & Co that have been accused of botching home foreclosure procedures.
US weekly mortgage demand falls as rates rise
The U.S. home loan demand fell sharply in the week ended Feb. 4, as the mortgage rates continue to rise from their lowest levels amid growing confidence on the economic conditions of the nation, the Mortgage Bankers Association (MBA) said on Wednesday.
JPMorgan to launch new fund specializing in distressed real estate
New JPMorgan fund will buy distressed real estate debt, even though many critics believe that the firm itself is, in part, responsible for much of the distressed real estate in the U.S.
Saudis allow foreigners to own property; but market remains tight
Saudi Arabia has eased its real estate and investment laws to allow foreigners residing and working in the kingdom to purchase and own properties there. The move is widely seen as a way to revive the country’s moribund real estate market.
BofA sued again for not disclosing mortgage troubles to investors
Workers union sues Bank of America and its Countrywide unit for not disclosing mortgage crisis sooner
Proposed class action targets BofA on foreclosures
Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.
In U.S. bailout, profit near on banks but foreclosures weigh
The U.S. Treasury said Wednesday it is close to turning a profit on direct bailout investments in the nation's banks, but still expects to post an overall loss in its financial bailout fund due to foreclosure prevention costs for homeowners.
Bank of America tops the most valued brand among banks: study
A survey by London-based Brand Finance Plc of banks, based on the notional amount that a company would have to pay for the brand, has ranked the Bank of America as the most valuable banking brand with an estimated price of $30.6 billion.
Goldman allegedly received $2.9-bln in bailout money from AIG
Goldman Sachs allegedly received $2.9 billion in bailout money from American International Group, which in turn received it from the Federal government as part of the 2008 bailout package.
Brittany Murphy's House in the Hills in Foreclosure
Deceased actress Brittany Murphy's home in the Hills above the Sunset Strip in Los Angeles, CA has invited foreclosure and has been slapped with a Notice of Sale with an opening bid of $4,035,666, according to the reports.
New Hampshire Ponzi scamster Scott Farah sentenced to 15 years in prison
Scott Farah, the head of New Hampshire-based failed mortgage firm Financial Resources Mortgage has been sentenced to 15 years in prison by a federal judge for duping hundreds of investors.
Mass. lawyer sentenced to 12 years in prison for role in $10.7 mln mortgage fraud
A Massachusetts-based lawyer, who was suspended for defrauding 10 mortgage lenders of more than $10.6 million, has been sentenced to 12 years in prison.
SEC probes ties of ex-Mass. official, Goldman exec
The U.S. Securities and Exchange Commission is investigating dealings between former Massachusetts Treasurer Timothy Cahill and a former top aide who now works at Goldman Sachs .
Judges to weigh mortgage document destruction
Federal bankruptcy judges in Delaware are due to hold separate hearings Monday on requests by two defunct subprime mortgage lenders to destroy thousands of boxes of original loan documents.
US mortgage applications rose last week
Mortgage applications in the U.S. rose during the week ended January 14 as interest rates dipped to lowest levels in a month, the Mortgage Bankers Association (MBA) said on Wednesday.
Obama admin steps up foreclosure prevention efforts
The Obama administration on Tuesday stepped up efforts to make it easier for struggling homeowners to renegotiate the terms of their mortgage, although it could be more than a year before such efforts pay off.
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