Mortgage News

A federal grand jury sitting in Eugene, Oregon, yesterday returned indictments against thirteen individuals on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development , a company previously headquartered in Bend, Oregon.

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.

Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

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.

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.

Published by Jon Land for 24dash.com in Housing Thursday 19th November 2009 - 10:05am Mortgage lending up 5% in October - CML Mortgage lending rose by 5% during October as the market continued to recover from its traditional summer dip, figures showed today.

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.

Lloyds Banking Group will put 600 branches and its Cheltenham & Gloucester and TSB brands up for sale after the European Commission gave its approval to its state-aid settlement.

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.

Wells Fargo & Co. , the fourth- biggest U.S. lender by assets, will repay as much as $1.4 billion to brokerage clients whose funds were frozen when the auction-rate securities market collapsed last year, the bank said in a statement.

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

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.

Builders in October unexpectedly broke ground on fewer U.S. houses as the sales outlook darkened with the looming expiration of a government tax credit and mounting joblessness.

Authorities in Colorado say a homeowner who was selling his house returned to the property to find a 24-year-old squatter wearing only underwear.

Builders in October probably broke ground on U.S. houses at the fastest pace in 11 months, and consumer prices held below the Federal Reserve's long-range goal, economists said reports today may show.

FAILED Gold Coast property financier City Pacific paid itself $25 million last year for managing the First Mortgage Fund, which lost about half of its $1 billion value, a report from First Mortgage's new managers, Balmain Trilogy, says.

The Obama administration on Tuesday will announce 'a sustained, multilevel attack on financial fraud,' including mortgage rip-offs, a senior administration official said.

One of the country's top credit reporting agencies says mortgage delinquencies have hit another record.