Jan 26th 2012 10:00AM
LOS ANGELES -- Foreclosures made up a smaller slice of all U.S. homes sold in last year's third quarter, as banks delayed placing properties for sale and home sales slowed. Despite the decline, foreclosures still represented 20 percent of all homes sold in the July-September period -- about four times more than at the... Continue Reading »
Jan 24th 2012 10:20AM
WASHINGTON -- The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review. Those who lost... Continue Reading »
Dec 21st 2011 10:00AM
SAN FRANCISCO -- California's attorney general filed lawsuits against mortgage giants Fannie Mae and Freddie Mac on Tuesday, demanding that the companies that own some 60 percent of the state's mortgages respond to questions in a state investigation. Attorney General Kamala Harris, whose office filed the lawsuits in San... Continue Reading »
Dec 19th 2011 1:40PM
WASHINGTON -- Congressional investigators said Monday that four House members received VIP discounted loans from the former Countrywide Financial Corp., the lender whose subprime mortgages was largely responsible for the nation's foreclosure crisis. Rep. Darrell Issa (R-Calif.), chairman of the House Oversight and... Continue Reading »
Dec 19th 2011 1:10PM
NEW YORK -- The Securities and Exchange Commission charged six former executives of Fannie Mae and Freddie Mac with securities fraud on Friday for misrepresenting their holdings of high-risk mortgage loans. The SEC is targeting three former executives of Freddie Mac, including chief executive officer Daniel Mudd, chief... Continue Reading »
