Yahoo! News: Business - Real Estate
Business - Real Estate
Key states move closer to foreclosure-abuse deal
(AP)
7 Feb 2012 at 4:03am
AP - California and New York, the key holdouts in a long-awaited settlement over foreclosure abuses, moved closer Monday to backing a deal that would force the five largest mortgage lenders to reduce loans for about 1 million households. More than 40 U.S. states have agreed to a nationwide settlement.
AP Enterprise: Brown bank regulator an insider
(AP)
7 Feb 2012 at 12:38am
AP - Gov. Jerry Brown's appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded and was an executive with Washington Mutual when the now-failed bank was among the most aggressive marketers of loans to high-risk borrowers.
More than 40 states agree to foreclosure deal
(AP)
6 Feb 2012 at 6:26pm
AP - More than 40 U.S. states have agreed to a nationwide settlement over foreclosure abuses.
Mortgage deal faces setbacks, again
(Reuters)
6 Feb 2012 at 4:11pm
Reuters - A multi-state mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to press specific concerns and ignore a Monday deadline to decide whether they will sign it.
Housing plan helps nearly 1 million homeowners
(Reuters)
6 Feb 2012 at 2:26pm
Reuters - Nearly 1 million U.S. homeowners have won permanent reductions on mortgage payments since the Obama administration launched its foreclosure prevention program in 2009, the U.S. Treasury said on Monday, only a fraction of the total it aimed to reach.
Convicted NY fraudster sentenced in hit plot
(AP)
6 Feb 2012 at 1:26pm
AP - Convicted of engineering a $100 million mortgage-fraud scheme, Aaron Hand was yearning for vengeance and stuck in prison, prosecutors said.
Romney focuses on Obama, Gingrich on Romney in NV
(AP)
3 Feb 2012 at 3:35pm
AP - A confident Mitt Romney accused President Barack Obama of failing to do enough to create jobs as he campaigned Friday ahead of GOP presidential caucuses this weekend in a state with sky-high unemployment and foreclosure rates. Newt Gingrich, who is fighting for a respectable showing here, rolled out a fresh line of criticism by comparing the former Massachusetts governor to Obama.
New York sues banks over electronic mortgage system
(Reuters)
3 Feb 2012 at 2:54pm
Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
NY's Schneiderman sues banks in foreclosure effort
(AP)
3 Feb 2012 at 2:53pm
AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures while saving banks over $2 billion.
Goldman to face mortgage debt class-action lawsuit
(Reuters)
3 Feb 2012 at 9:37am
Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.
Analysis: Obstacles high for more mortgage prosecutions
(Reuters)
2 Feb 2012 at 6:09pm
Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.
Homebuilders see stable housing market ahead
(AP)
2 Feb 2012 at 4:54pm
AP - The CEOs of some of the nation's biggest homebuilding companies said Thursday that they feel the housing market has stabilized.
Rate on 30-year mortgage falls to record 3.87 pct.
(AP)
2 Feb 2012 at 4:01pm
AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
Woman who stole mortgage money and gambled it away, gets prison
(Reuters)
2 Feb 2012 at 3:02pm
Reuters - A former foreclosure counselor who gambled away more than $300,000 she stole from her upstate New York clients was sentenced on Thursday to six years in federal prison.
Illinois accuses mortgage firm of robosigning
(Reuters)
2 Feb 2012 at 11:24am
Reuters - The attorney general in Illinois on Thursday sued a mortgage document firm and said it filed "faulty" documents with local governments in a rush to process mortgages and foreclosures.
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