Mortgage News

WASHINGTON: A federal judge has approved a $153 million settlement of a securities fraud lawsuit against Fannie Mae and KPMG brought by shareholders of the mortgage giant.

U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0 percent, heightening expectations the Federal Reserve will soon start ratcheting back its bond-buying stimulus.

A tax break for struggling mortgage borrowers ends Jan. 1 and that could mean big tax bills -- and financial hits for their neighbors.

House prices surged by 7.7% annually in November, marking the fastest rate seen in six years, Halifax has reported.

A U.S. judge is considering an alternative that could result in Bank of America Corp paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis.

The Los Angeles city attorney sued Wells Fargo and Citigroup on Thursday, alleging the companies engaged in mortgage discrimination that led to a wave of foreclosures in minority communities during the housing crash.

One third of people planning to take their first step on the property ladder in the coming months say they are confused about how the new phase of the Government's flagship Help to Buy scheme works, research by a property website has found.

The American Civil Liberties Union has sued the Federal Housing Finance Agency, asking it to disclose efforts to stop municipalities from using eminent domain to bail out underwater homeowners and make its dealings with the financial industry more transparent.

MGIC Investment Corp. and Radian Group Inc. jumped in New York trading after Goldman Sachs Group Inc. recommended investors buy the shares, citing the potential for sales growth amid an improving housing market.

A payday loan is a costly form of credit operating on the fringes of the economy.

RESPA and the Holiday Season As we get closer to the holidays, we think about presents, parties, and RESPA! Ken Perry, president and CEO of Broker Knowledge Group, says he is always surprised to see so many loan originator's getting "confused" around the myth of $25 gifts being OK for referral partners.

University of Michigan student Courtney Funchess, Farmington Hills, helps clean and organize files in the UM School of Nursing, May 9, 2012, where Funchess is doing clerical work this summer to help her pay for school.

Dozens of online subscription businesses have popped up offering to ship boxes of different goodies within a given niche or theme, like makeup or travel, each month.

Among their biggest worries is a change in the cost-of-living increase, which currently is 3 percent compounded annually on their full annual benefit.

Once you're logged in, at the top of each article, video or slideshow you will see a list of your Facebook friends who recently visited Choose to share stories you'e read with your friends or turn sharing OFF to keep your reading experience anonymous .

Sales of new single family homes jumped to a seasonally adjusted annual rate of 444,000 in October, up 25.4% from the previous month's revised rate, according to a report issued by the Commerce Department.

Top U.S. banks including Bank of America and Citigroup Inc failed to comply with some provisions of a government settlement to improve mortgage servicing practices, a monitor of the settlement said on Wednesday.

Sales of new homes grew 25.4 percent to a seasonally adjusted annual rate of 444,000, the Commerce Department said Wednesday.

Beginning Jan. 10, banks have to ensure that monthly mortgage payments are affordable, a result of the Dodd Frank law passed in 2010.

Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.