Jun 28th 2012 2:00PM
By Justin T. Hilley Several Federal Home Loan Banks violated regulatory credit limits in 2010 and 2011, even as the risks associated with doing so intensified, according to a recent federal investigation. The Federal Housing Finance Agency Office of Inspector General found that FHLBanks substantially increased unsecured... Continue Reading »
Nov 9th 2011 11:00AM
Mortgage applications increased 10.3 percent this past week as more homeowners refinanced existing mortgages or took advantage of lower interest rates to buy homes. The Mortgage Bankers Association said its market composite index -- a measure of loan application volume -- increased 10.3 percent on a seasonally adjusted... Continue Reading »
Sep 14th 2011 5:30PM
The Labor Department ordered Bank of America to reinstate and pay $930,000 to a employee, who was fired after reporting instances of possible fraud among Countrywide Financial Corp. employees. The Labor Department's Occupational Safety and Health Administration division in San Francisco launched an investigation after a... Continue Reading »
Aug 23rd 2011 12:30PM
Real estate prices in a few U.S. markets are back to levels not seen in a decade, according to data released by John Burns Real Estate Consulting on Friday. In a report titled, "Back to the Future: Median Home Prices Mirror Years Past," the study's author Gregory Tsujimoto says prices in Atlanta, Las Vegas, Phoenix and... Continue Reading »
Aug 18th 2011 10:45AM
The amount of time it would take for the housing market to move through properties lingering in the foreclosure system is finally improving. Standard & Poor's analysts estimate it would take 47 months for the housing market to work through the shadow inventory, according to their second quarter research note. They... Continue Reading »
