Mortgage News

Florida, the state with the highest percentage of troubled mortgages, may collect almost one-quarter of the national $25 billion foreclosure settlement.

Low deposit mortgage deals are back on offer for first time buyers after the financial crisis left them struggling to get on the property ladder.

The Obama administration unveiled a home refinancing plan last week intended to give millions of homeowners an opportunity to refinance their homes.

The $25 billion deal between the states and major banks to provide foreclosure relief will not provide any assistance for those with federal mortgage loans, reports Bill Whitaker.

SCB Bank had been struggling under the weight of nonperforming loans since 2009. The Bank had a large concentration of its loan portfolio in commercial and industrial loans which were particularly hard hit since real estate values began collapsing in 2008.

Charter National Bank and Trust, Hoffman Estates, Illinois, was closed today by the Office of the Comptroller of the Currency, becoming the eight banking failure of 2012.

Even as the $26 billion mortgage settlement helps hundreds of thousands of troubled homeowners, it will bring a wave of new foreclosures.

Wisconsin will use about $26 million of its $140 million share of a national mortgage settlement to help plug a state budget hole.

New York Attorney General Eric Schneiderman, a lead investigator into the mortgage collapse that wobbled the U.S. economy, hasn't taken the title "Sheriff of Wall Street" that one of his predecessors rode all the way to the governor's mansion.

Federal Reserve Chairman Bernanke says people are spending less because they are stuck in "underwater" homes, which are worth less than what is owed on the mortgage.

A Wisconsin will use about $26 million of its $140 million share of a national mortgage settlement to help plug a state budget hole.

In an effort to cut their losses, banks are paying some struggling homeowners as much as $35,000 to sell their homes before they end up in foreclosure.

The Department of Housing and Urban Development announced a $1 billion dollar settlement relating to mortgage fraud by Bank of America against the Federal Housing Administration .

The $700 billion Troubled Asset Relief Program (TARP) that was authorized in 2008 to bailout failing financial institutions is still in the process of being wound down. The latest report from the Government Accounting Office reveals that the U.S. Treasury is still keeping hundreds of problem banks on life support.

A $25 billion foreclosure settlement reached between the government and the big banks has many wondering who will win and who will lose among the different parties involved. Although the settlement is complicated and will take years to work out, the basic framework will please some and annoy others.

On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange.

President Obama on Thursday said the "landmark" $26 billion settlement between the nation's largest banks and states would speed relief to homeowners harmed by "plainly irresponsible" mortgage practices and begins, "to turn the page on an era of recklessness that has left so much damage in its wake." "Under the terms of this settlement, America's ... (more)

The mortgage settlement that government officials announced Thursday is intended to help victims of foreclosure abuses that followed the housing bust.

A landmark $25 billion settlement with the nation's top mortgage lenders was hailed by government officials Thursday as long-overdue relief for victims of foreclosure abuses.

The nation's five largest banks have finally struck a deal with 49 states to settle charges of abusive and negligent foreclosure practices dating back to 2008.