Mortgage News

Unwinding portfolio puts Wall Street veteran Pasciucco in vortex of storm Richard Teitelbaum and Hugh Son Bloomberg News Gerry Pasciucco stared out from his office on midtown Manhattan's 48th Street, weighing the riskiest trade of his life.

When Virgil Acacio drove his new Mercedes through the grand entrance towers of The Ranch On Silver Creek in early 2006, this real estate broker who had just quintupled his income felt like he was passing through his personal Arc de Triomphe.

Community bank failures are accelerating and some experts believe as many as 100 may go under this year, the most in 16 years.

Summer 2009: The surf's up, but not vacation home prices. Friday Jul 3, 2009 The summer of 2009 is shaping up to be an historical window of opportunity for buying fun and affordable vacation homes.

July 2 -- Mortgage rates in the U.S. fell this week, easing concern the Federal Reserve plan to lower rates by purchasing mortgage-backed securities was losing momentum.

It's by far the hottest controversy in real estate this summer, and it could directly affect the value of your house - probably negatively - by tens of thousands of dollars.

TORONTO a ' More than half a million Canadians have fallen behind on their credit payments as economic conditions deteriorate, a survey has found.

Federal prosecutors in North Carolina filed criminal fraud conspiracy charges against Beazer Homes USA on Wednesday, but they agreed to dismiss the case if the company complies with an agreement accepting responsibility for certain wrongdoing and pays millions to victims.

Published by Hannah Wooderson for 24dash.com in Housing Friday 3rd July 2009 - 11:08am Mortgage debt down by record 8 billion Britons reduced their mortgage debt by a record 8.14 billion during the first quarter of the year, figures showed today.

The number of pensioners being declared bankrupt has soared by 164% during the past five years, research has shown.

Apartment prices in the typically resilient Manhattan market plunged in the second quarter by the largest annual amount in decades, data released Thursday showed.

Mortgage rates in the U.S. fell this week, easing concern that a Federal Reserve plan to lower the cost of home loans had lost momentum.

Despite 52 failed banks in 2009 and many more to follow, Sheila Bair, FDIC Chairman, has wisely chosen to restrict private capital investments in failed banks to qualified buyers only. In mid May of this year, Ms.

There were seven more failed banks this week on July 2, 2009 as detailed below: 2009 has now seen a total of 27 more failed banks than occurred for all of 2008. The latest 7 banking closures by the FDIC brings total banking failures for 2009 to 52.

Struggling homeowners may soon be getting more help from Uncle Sam. Housing and Urban Development Secretary Shaun Donovan announced today that Fannie Mae and Freddie Mac will begin refinancing mortgages with loan-to-value ratios of 125 percent.

Beazer Homes USA Inc . agreed to pay as much as $53 million to the government and homeowners to resolve allegations of mortgage fraud, the Justice Department said.

Banks are buying the mortgage-backed bonds that hobbled the global financial system, helping to sustain higher prices for the debt, according to Federal Reserve data, investors and traders.

Many US officials at the Treasury and Federal Reserve have criticized Japan's policy of propping up Zombie banks and therefore prolonging their banking crisis. The theory was that the weakest banks made the worst lending decisions and should be allowed to fail instead of being subsidized with taxpayer dollars. Consider the case of Central ...

The collapse in prices has finally come to your neighborhood, too, Mr. Comfortable. Has the housing market scraped bottom? Not in some of the wealthier neighborhoods--places like New York City's Greenwich Village, Santa Monica, Calif.

The person who caused the current world recession can be found not on Wall Street or the city of London, but instead could be you, and your next-door neighbor--the people who put so much of their savings and credit to buy a house.