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Seven people were arrested Thursday and charged with operating a $142 million mortgage and security fraud that pushed 201 Riverside County homes into foreclosure and harmed hundreds of investors in California and Arizona, driving many to financial ruin.

British house prices could retreat in 2010 if unemployment rises sharply, Britain's third-largest mortgage lender Nationwide warned on Friday.

State and federal prosecutors have charged seven people in an alleged securities scam that cheated dozens of people out of $17 million.

Banks borrowed slightly less from the Federal Reserve's emergency lending program over the past week, but increased their use of other credit programs designed to ease the financial crisis.

Watchdog: Stimulus job creation data flawed A A The government watchdog overseeing economic stimulus spending said Thursday that, in its rush to take credit for saving hundreds of thousands of jobs, the Obama administration was overly confident in its job-counting. updated Nov.

Spanish banking giant Santander is set to launch an assault on the current account market with the introduction of a fee-free account available to mortgage customers.

The Canadian Press Two of Canada's big banks said Wednesday they would cut their posted rates for fixed-rate mortgages by up to 0.2 percentage points.

DEARBORN, Mich. a ' There's a swirl of activity in a spacious, modern kitchen as final meal preparations are made.

The budding economic recovery is getting little help from the home building industry, which normally creates jobs and boosts growth as a recession ends.

Mortgage loan applications decreased 2.5 percent on a seasonally adjusted basis for the week ending Nov.

Mrs. Obama and Agriculture Secretary Tom Vilsack visited Hollin Meadows Elementary to promote the Obama administration's Healthier U.S. Schools initiative.

US consumer prices rose by a higher-than-expected 0.3% in October primarily on the back of higher petrol prices.

PHOENIX a ' State lawmakers are once again trying to remove some legal protections speculators have from being pursued by banks if they walk away from home mortgages.

The recession is downsizing everything - even South Carolina's Statehouse Christmas tree.

A homeowner knew something was amiss when he came home, opened his garage door and found a white Lexus that wasn't his parked in the garage.

The Obama administration announced a government-wide task force to combat financial fraud after the U.S. recession led to an increase in economic crimes.

Lloyds Banking Group has slashed interest rates on a number of its mortgages and launched a new best buy deal.

Some mixed news on mortgage delinquencies. The good news is, the pace at which people fell behind on their mortgages slowed during the summer for the third quarter in a row.

Petrol prices have pushed up inflation for the first time since February, official figures show.

A Middle Tennessee State University professor has been sentenced to 12 months and a day in prison in a mortgage fraud scheme.