Mortgage News

WASHINGTON Remember the bad old days of eleventh-hour mortgage settlement cost shocks and mystery junk-fee charges? Remember when the "good-faith estimates" your lender gave you upfront said closing costs would be about $2,000, but somehow they ballooned to $3,500 on the final settlement sheet? Worse yet, you had to come up with the extra money to ...

Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday.

Regulators closed 5 additional failed banks today in California, Missouri, Minnesota, Michigan and Georgia. The largest failed bank of the week was United Commercial Bank of California which had $11.2 billion in assets.

The National Association of Insurance Commissioners on Thursday approved a proposal to establish a new model for determining ratings of residential mortgage-backed securities .

Nov. 6 -- Fannie Mae, the mortgage buyer seized by regulators, plans to tap emergency U.S. capital for a fourth time this year, bringing its draws of taxpayer money to $60 billion as the company sees no immediate end to its losses.

Subprime lending marked a sharp drop last year in Colorado, representing the stateA's declining economy and slowing extension of credit, according to a report released yesterday by the Attorney GeneralA's office.

Share + Nov 5, 2009 7:19 pm US/Central BOSTON It's a scary time to be a recent college graduate.

Ralph Cioffi, an ex-Bear Stearns hedge fund manager, arrives at Brooklyn federal court in New York in this October 13, 2009 NEW YORK: In closing arguments in the trial of the first high-profile Wall Streeters on fraud charges stemming from the financial crisis, a U.S. prosecutor said two hedge fund managers told "black and white lies," but a ...

Missed out on Cash for Clunkers? Congress has another deal for you: Buy a home before May 1 and collect up to $6,500 from the government.

Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year.

A half-renovated Victorian era home is offered for sale in the Angelino Heights neighborhood.

Mediation would be a good way to expedite a flood of mortgage foreclosures, members of a foreclosure task force said Wednesday, but some disagreed on the details in oral arguments before the state Supreme Court.

Members of the Florida Supreme Court's residential mortgage foreclosure task force agreed that mediation would be a good way to expedite a flood of such cases.

The Mortgage Bankers Association today released the Weekly Survey on Mortgage Application Activity for the week ending October 30, 2009.

It's too late, too timid, and comes with too many questions attached. Even so, the U.K. government deserves some credit for finally moving to break up a bloated, failed banking industry.

Federal Reserve Chairman Ben Bernanke and crew held interest rates steady at record lows for the eleventh straight month.

AUSTRALIA'S big four banks have moved quickly to hit home loan customers with another interest rate rise after yesterday's move by the Reserve Bank.

PRIME Minister Gordon Brown today accepted "in full" the Kelly report on MPs' expenses, which said MPs should no longer be able to claim for their mortgages or employ family members at the taxpayer's expense.

Faced with lurking dangers to the budding recovery, Federal Reserve policymakers are sure to leave a key interest rate at a record low to entice Americans to spend more and help the economic turnaround gain traction.

When Sharon Sakson was laid off recently from her job as a television writer and producer, she burned through her savings to pay the $2,400 monthly mortgage on her home.