The federal government’s Home Affordable Modification Program, known as HAMP, was designed to keep borrowers from losing their homes to foreclosure. It has resulted in lower monthly mortgage payments for more than a million homeowners.
As baby boomers age, reverse mortgages are expected to gain popularity as a means of covering living expenses.
From JPMorgan Chase's $13 billion settlement over mortgage securities lawsuits brought by bondholders, a barrage of litigation has been raining down on Wall Street banks.
More than a yeah back, the New York State Attorney General, Eric T. Schneiderman, came home bearing a legal pelt.
Big banks like Wells Fargo and Bank of America still rule the mortgage market, but their collective dominance has waned considerably over the last three years.
Corporate America has long known the public relations power of putting a big dollar number on a deal.
The fallout from the bursting of the housing bubble continues to plague Wall Street. Bank of America agreed on Thursday to pay the Securities and Exchange Commission a $131.8 million penalty to settle an investigation linked to the structuring and sale of two complex mortgage securities that its Merrill Lynch division sold to investors.
The subprime mortgage crisis gave rise to a raft of regulations intended to guard against another disastrous market bubble.
Disparaged by some as the bogeymen of the housing crash, mortgage brokers have taken a beating over the last few years.
The Federal Reserve’s campaign to encourage economic growth was bolstered on Thursday as Janet L. Yellen moved to the verge of confirmation as the next head of the Fed, and a change in Senate procedures made it easier for the White House to fill three other vacancies on the Fed’s board.