banks - Articles

Mortgage Rates Slip a Bit in Latest Week

AP WASHINGTON -- Average U.S. rates for fixed mortgages changed little this week. Mortgage buyer Freddie Mac said Thursday the average for the 30-year loan declined to 4.39 percent from 4.41 percent last week. The average for the 15-year loan slipped to 3.44 percent from 3.45 percent. Mortgage rates have risen about a... Continue Reading »

BofA to Pay $404 Million to Settle Mortgage Dispute

Chuck Burton/AP By Tanya Agrawal Bank of America said it settled all claims with Freddie Mac arising from residential mortgages sold to the government-backed housing agency through the end of 2009. Bank of America (BAC) will pay $404 million to settle claims related to loans sold to Freddie Mac from Jan. 1, 2000 to Dec.... Continue Reading »

JPMorgan, Gov't Set Terms for $4 Billion Piece of $13 Billion Deal

dapd/AP NEW YORK -- JPMorgan Chase and U.S. government officials have agreed on terms of a $4 billion consumer relief package that is to be part of a $13 billion deal to settle the bank's liability to government agencies over mortgage securities, according to a person familiar with the matter. The $4 billion portion of... Continue Reading »

Fewer U.S. Homes Entered Foreclosure Track in 3Q

John Moore/Getty Images By ALEX VEIGA LOS ANGELES -- The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners falling behind on mortgage payments. Lenders initiated foreclosure action on 174,366 homes in the... Continue Reading »

Calif. City Looks to Seize Loans to Ease Mortgages

Mark Elias/Bloomberg via Getty Images By PAUL ELIAS SAN FRANCISCO -- When the mayor of Richmond, Calif., and a gaggle of activists and homeowners showed up at the Wells Fargo Bank headquarters in downtown San Francisco this month, they were on a mission to speak with the bank's chief executive. They wanted the bank to... Continue Reading »

#postcontentcontainer, #fivemin-widget-blogsmith-0{width:600px;height:400px;background:black url(http://pthumbnails.5min.com/3114706/155735263_3_600_400.jpg) no-repeat center center;display:block} Eddie Kim's parents made savvy residential real estate purchases in New Jersey 15 years before the housing bubble burst, so... Continue Reading »

For Bankers, Who's the Boss?

Watching the CEOs of America's largest banks testifying this week to Congress about their roles in starting The Great Recession with varying levels of contrition and defiance raises the question: exactly who are banks really accountable to in these post-TARP days? Who's the boss? Shareholders? Taxpayers? Customers (whom... Continue Reading »

Will F2F Save You From Foreclosure?

Abandoned homes are still a lingering problem for many states as foreclosed homeowners continue to be pushed out in record numbers. When they go, they leave in their wake unkempt yards, dilapidated homes and squatters, all causing unnecessary blight on formerly tidy neighborhoods. Yet, when these struggling homeowners... Continue Reading »

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