Mortgage News

Up to 120 jobs are under threat at Halifax in Belfast. Tags: business It is understood that the redundancies will affect the Mortgage Operations team at Cromac Square.

Dodd's 1,100 page-draft would strip the Federal Reserve and other regulators of their powers to regulate banks and hand that job to a single agency.

Two Bear Stearns executives who ran hedge funds that collapsed after betting heavily on the shaky subprime mortgage market were acquitted Tuesday of lying to investors a ' a defeat in the government's bid to punish fraud exposed by the financial crisis.

After a slow start, the Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says.

HSBC Holdings Plc , Europe's biggest bank, said third-quarter pretax profit rose as bad loans declined, while Barclays Plc posted a 54 percent drop in earnings.

The Federal Housing Administration, which has played a crucial role supporting American home buyers after the collapse of the mortgage market, has burned through a huge cash reserve in less than a decade and could soon wind up with what amounts to an automatic taxpayer bailout if the agency's fortunes don't improve, according to a review of FHA finances.

The state is suing two central Florida companies for allegedly scamming homeowners trying to rescue their properties from foreclosure.

Bank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain.

Fewer U.S. banks tightened lending standards for companies and consumers in the third quarter as the economy grew for the first time in more than a year, a Federal Reserve survey showed.

MBIA Inc. said Monday that it incurred heavier losses in its insurance business than expected, saddling the bond insurer with a third-quarter loss after two straight quarters of profits.

Fannie Mae said Monday it may have to ask the government for more financial assistance because the company cannot sell $5.2 billion in tax credits.

The number of U.S. homeowners who owe more than their properties are worth fell in the third quarter as values stabilized and some homes were lost to foreclosure, Zillow.com said.

Government-controlled mortgage finance company Freddie Mac has said it doesna t want more federal cash even with third quarter losses at $6.3 billion.

Reuters Posted: Saturday, Nov 07, 2009 at 1524 hrs IST Updated: Saturday, Nov 07, 2009 at 1524 hrs IST New York: Freddie Mac, the second largest provider of US residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.

State Street Corp. on Friday said it added $250 million to a legal reserve, and revised its third-quarter earnings results downward to reflect the change.

Dean Juhl testifies in the mortgage fraud trial of Mark Strodtman on Thursday in Weld District Court.

Wall Street is doing to America what private equity firms did to Simmons Bedding and many other productive companies.

Those days are still here - consumers continue to be unprotected from closing cost shocks or intentional lowballing of fees - but in about eight weeks the situation should change dramatically.

Rates on 30-year fixed-rate mortgages averaged 4.98% for the week ending Nov. 5, down from 5.03% last week, according to Freddie Mac's weekly survey of conforming mortgage rates, released on Thursday.

Banks in California, Georgia, Michigan, Minnesota and Missouri were shuttered, costing the FDIC a total of $1.5 billion.