Mortgage News

Gov. Jerry Brown and Controller John Chiang unlawfully redirected $369 million in homeowner relief secured by Attorney General Kamala Harris, according to a lawsuit filed in Sacramento Superior Court on Friday morning.

The Federal Reserve's controversial bond-buying program, designed to stimulate the U.S. economy, generated interest income of $90 billion in 2013, an audit of the central bank confirmed Friday.

Several community assistance organizations are suing California, alleging the state improperly diverted nearly $370 million that was intended to help homeowners struggling with foreclosures.

The Government's programme of taxpayer-funded support for first-time home buyers should be cut back amid fears rising house prices could push up interest rates, shadow chancellor Ed Balls has said.

The cost of owning a family-sized home in the UK is now almost A 1,500 a year cheaper than renting, according to research.

The legislation, which cleared Congress on Thursday, reverses much of a 2012 overhaul of the government's much-criticized flood insurance program after angry homeowners facing sharp premium hikes protested.

The banks, which include Bank of America, Citigroup and JPMorgan Chase in the U.S., are among the world's largest.

The financial health of Canadian households improved ever so slightly in the final three months of 2013, a development that will give some comfort to the Bank of Canada in maintaining its low-interest-rate policy.

Statistics Canada says mortgage and consumer credit debt were both up at the end of the fourth quarter of 2013.

A U.S. judge wrestled on Thursday with a U.S. Justice Department request that Bank of America Corp pay $2.1 billion in penalties after being found liable for fraud over defective mortgages sold by its Countrywide unit.

A bill to eliminate exponential rate hikes in the National Flood Insurance Program is on its way to the desk of President Barack Obama.

Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department's internal watchdog said Thursday.

Senate banking committee leaders announced this week they plan to introduce a bill to dismantle the two mortgage companies.

JACKSONVILLE, Fla. -- Thursday is World Kidney Day at Flagler Hospital, but this is something you don't see everyday.

Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year loan increased to 4.37 percent from 4.28 percent last week.

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.11 percent, down from 4.18 percent at this same time last week.

Longer-term fixed mortgage rates may soon be a better deal than variable rates for homebuyers, according to a new report by BMO Capital Markets.

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Millions of renters say they really want to buy their first home this year, but many won't be able to seal the deal.

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