Mortgage News

Deutsche Bank AG and a BNP Paribas unit sued Bank of America NA on Wednesday over allegations the bank failed to pay back $1.73 billion in secured notes.

The states and Federal Trade Commission are joining forces in Operation Stolen Hope, a nationwide program that combines law enforcement and public education.

By Julianne Pepitone , CNNMoney.com staff reporter Foreclosure plague: It's spreading Las Vegas always wins the title for worst foreclosure rate in the country.

The apparent end of the recession and stabilizing financial markets have not cured the banking industry, as souring and past-due loans have reached the highest levels in 26 years, the Federal Deposit Insurance Corp.

They are trying to solve their own problems - of which getting elected and re-elected are number one and number two.

As of the latest report released by the FDIC there were 552 problem banks at September 30, 2009 up from 416 on June 30, 2009. Total assets held by the troubled institutions is $345.9 billion..

October home sales in the U.S. South vaulted 23 percent from last year as buyers scrambled to grab an expiring tax credit and wrestled for lower-priced homes, the National Association of Realtors said Monday.

Nearly a quarter of U.S. mortgage holders owe more on their loans than their houses are worth, according to a report today in the Wall Street Journal .

The Canadian Press Interest rates aren't going up any time soon, but when they do the rise will be rapid enough to potentially prove devastating for homeowners who aren't prepared, mortgage industry experts say.

Big banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them.

Mortgage finance company Freddie Mac said Monday it could lose $500 million or more as a result of the bankruptcy protection filing of Taylor Bean & Whitaker Mortgage.

All FDIC insured deposits are backed by “the full faith and credit of the United States government. Therefore,according to FDIC Chairman Bair, “we cannot run out of money“. Sorry Sheila Bair, the “full faith and credit” of the US Government ultimately relies upon its ability to tax productive, income earning taxpayers who are already overburdened and near the breaking point.

The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.'s on terms that seem too good to be true.

Janeia Sandiford, with son Jayvonn, waited a year for someone to address the hole in the kitchen ceiling of her apartment in the Bronx.

Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high.

Home sales far exceeded expectations last month, surging to the highest level in 2A1 2 years as first-time buyers rushed to take advantage of an expiring tax credit.

By Jack Guttentag , Monday, November 23, 2009. Flickr photo by MC Quinn . It is often said that the interest on home mortgages is "front-end loaded," implying that the way lenders charge interest is both unfair and self-serving -- possibly even sinister.

Federal Reserve Bank of St. Louis President James Bullard said Sunday that the U.S. central bank should continue buying mortgage-backed securities and other assets longer than currently planned, according to an interview with Dow Jones Newswires.

New home sales in Toronto spiked last month, an early indication that construction may soon pick up for a housing market that is short on supply, not only in Canada's largest market, but most of the country.

Ever since May 1, when Fannie Mae's new appraisal guidelines for home mortgages went into effect, buyers, sellers, real estate agents and loan originators have complained bitterly about the new process.