Headlines and Blogs from Around the Web
Mortgage lenders and housing investors are squaring off in Nevada over a court decision that has allowed thousands of foreclosed homes to be sold for pennies on the dollar, in a case that could have big implications on an already-tight home-loan market across the country.
JPMorgan Chase & Co (JPM.N) reported a third-quarter profit as the biggest U.S. bank boosted revenue from trading and investment banking, and moved past the huge legal claims that pushed it into a rare loss in the same quarter last year.
Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their wages and seizing their assets.
Residential Capital LLC for the most part must pursue lawsuits in federal court in Minnesota against lenders who sold it allegedly defective home mortgages.
Bank of America Corp. (BAC), the third-largest U.S. mortgage lender, refused to give Paul Mataska the loan amount he needed last year after he had a six-month layoff from his job in 2012.
Two years ago, MoneyBeat brought you the story of William C. Erbey’s Atlanta-area house. Mr. Erbey is the chairman of mortgage servicer Ocwen Financial Corp. and the company bought the mansion from him for $6.4 million in August of 2012.
It all came down to the meaning of fourteen words.
The headlines are stark when it comes to the retirement of Americans. One quarter of those 50 to 64 have not saved a penny, and 14 percent of those 65 and older are in the same predicament.
Former Federal Reserve chairman Ben Bernanke testified Friday he was concerned that the public and Congress would think that American International Group (AIG) was being treated lightly when it received an $85 billion government bailout in 2008.
A Virginia man has been sentenced for illegally accessing government servers that hosted a Fannie Mae website used to support federal mortgage loan modification programs, the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced on Friday.
After the Great Recession had officially began (but prior to the stock market crash of 2008/09) George W. Bush responded to the early signs of economic trouble with a "helicopter drop" in the form of lump sum tax rebates to wage earners to help stimulate the economy.
Tyesha Hansborough and her husband, Christley Paton, had paid the property insurance on their Inglewood, Calif., home along with their mortgage, putting the money in escrow like most homeowners.
The main draw for most refinancing homeowners is to save money on your monthly mortgage payments. According to a new study from the National Bureau of Economic Research, the median household who doesn't refinance could be losing out on approximately $11,500.
Hardly any other company incites such strong negative emotions from Main Street, while simultaneously delighting Wall Street, as Bank of America. The bank's delivered a 194% return since 2012, which compares to a 53% gain for the S&P 500, for those keeping score at home.
As part of its effort to support affordable rental housing and provide the underserved small rental property borrower with access to long-term debt capital, Freddie Mac Multifamily is now purchasing and securitizing multifamily loans of $1 million to $5 million.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.