Mortgage News

Bank of America Corp. has been fined $1.3 billion after being found guilty of a Countrywide scheme to sell suspect mortgages to Fannie Mae and Freddie Mac.

In a story July 29 about consumer debt reported to collection agencies, The Associated Press erroneously indicated that 80 percent of Americans have no debt on file.

Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter.

The central bank has been gradually reducing, or tapering, its monthly bond purchases since January.

Troubled homeowners are facing unacceptable delays when they turn to the Obama administration's flagship foreclosure prevention program for help, the watchdog agency that oversees the initiative reported Wednesday.

Couple get federal prison terms for mortgage fraud An NJ couple convicted of fraudulently obtaining $3.4M is now going to prison.

SYDNEY, July 30 AAP - Mortgage insurer Genworth has flagged a full year profit of up to $250 million amid higher premiums as a strong property market leads to fewer claims.

Timothy DeLaGhetto typically entertains his 2.5 million subscribers with sex jokes and television parodies.

The former financing arm of General Motors Co. said it had earned $323 million, or 54 cents per share, in the second quarter.

Timothy DeLaGhetto posted a YouTube video Monday as he presented his parents with a check of $210,000 to pay off their mortgage.

The average U.S. household owes more than $7,000 on their credit cards. Average U.S. household mortgage debt is around $154,000, and average U.S. household student loan debt is more than $33,000.

This much is clear: The Federal Reserve will make another cut this week in its monthly bond purchases, which have been aimed at keeping long-term loan rates low.

The S&P/Case-Shiller home price index, a closely watched measure of home values.

The Standard & Poor's/Case-Shiller 20-city home price index, released Tuesday, increased 9.3 percent in May from 12 months earlier.

This story is sponsored by Goldenwest Credit Union . a leading provider of financial products and services throughout the state of Utah.

The Zurich-based lender's offices in Germany were searched last year as part of an investigation of 750 cases involving foundations, a probe sparked by a CD with details of UBS clients that was purchased by the German state of North Rhine-Westphalia .

These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid.

It's been nearly seven years since the market for so-called private-label mortgage bonds, or those that aren't backed by government-related entities, dried up.

Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home.

Lloyds, one of the world's largest banks, on Monday became the sixth financial firm sanctioned in the international rate-rigging scandal.