MORTGAGE

Bank of America Corp. (NYSE:BAC) completed its swap of common stock and notes for preferred shares as part of its efforts strengthen its capital base ahead of Fed's 2012 stress test.

The regulator for Fannie Mae and Freddie Mac is actively considering a proposal that would allow for a reduction in the outstanding mortgage debt of homeowners in Chapter 13 bankruptcy, Financial Times reported on Tuesday.

The regulator for Fannie Mae and Freddie Mac is actively considering a proposal that would allow for a reduction in the outstanding mortgage debt of homeowners in Chapter 13 bankruptcy, Financial Times reported on Tuesday.

At least in one region of the county at dinner parties, it's the question that's on the lips of prospective home buyers: will home mortgage interest rates fall more? The average fixed rate for a 30-year mortgage for borrowers with good credit has declined to 3.92 percent,

Wells Fargo & Co. (WFC) announced Monday the firm is expanding its international commercial finance capabilities through acquiring Burdale Financial Holdings Ltd and the portfolio of Burdale Capital Finance Inc. from Bank of Ireland Plc (BKIR). The portfolio represents approximately $1 billion in loans outstanding from U.S. and U.K. customers. Bank of Ireland, the nation’s largest bank, will receive about 690 million euros ($899 million) from the sale.

European leaders have not done enough to deal with the region's debt crisis and should probably use the International Monetary Fund to more closely monitor countries with the biggest problems, Canadian Finance Minister Jim Flaherty said on Sunday.

Lloyds Banking Group Plc (LLOY), Britain's biggest mortgage lender, is making a new move to appease political and shareholder anger over executive pay. The bank's 1,000 most senior managers will see their salary frozen in 2012, including Chief Executive Officer António Horta-Osório, who just returned from medical leave last week.

The Senate-passed bill is a two-month extension of the 2 percent payroll tax holiday, federal support of unemployment benefits and an extension of expiring Medicare provisions.

Republican presidential hopeful Newt Gingrich threatened Sunday to have federal judges arrested if they disagreed with his policies as president, ratcheting up his attacks on the judiciary as he tries to halt a slide in his campaign.

Americans are making progress in working down their heavy debt burden, but they are struggling to break out of another funk holding back the economy: their deep pessimism.

The federal government's Home Affordable Modification Program is far from perfect, said Josh Zinner, an advocate with the Neighborhood Economic Development Advocacy Project in New York, "but the biggest problem is servicers not doing their job."

China's November housing inflation eased to its lowest level in the year, a victory for Beijing's campaign to ward off property bubbles as it steadily loosens monetary policy to ensure a soft landing in the world's second-largest economy.

Deeply divided U.S. lawmakers on Friday eked out an agreement to extend payroll-tax cuts for just two months, and only after Democrats bowed to Republican demands on a controversial oil pipeline.

Scarce dollar funding and a retrenchment in bank lending will force up premiums for emerging market countries and companies refinancing debt next year, adding to strains on public finances and potentially triggering a surge in corporate defaults.

The Republican frontrunner in the run up to the U.S. Presidential elections, Newt Gingrich, had to face considerable criticism from his rivals, in the final GOP debate of the year and before the Iowa caucus on Jan. 3. Gingrich, throughout the debate, fought back allegations levied against him and compared himself to former Republican President, Ronald Reagan.

Front-runner Newt Gingrich came under sharp attack from rival Republican presidential candidates Thursday night at the last debate before Iowa launches the 2012 election season.

Canadian industries are operating at a production capacity that is approaching pre-recession levels and the housing market remains strong, according to data on Thursday that offered the prospect of steady, if slower, economic growth.

After years of economic turmoil, U.S. homebuilders should see modest gains and a stable outlook in 2012, according to a report from Fitch Ratings.

Enforcement officials at the Securities and Exchange Commission will reportedly recommend that the agency appeal a federal judge's November decision rejecting a $285 million settlement with Citigroup.

Overall U.S. foreclosure activity fell in November compared to the previous month, but auctions hit a nine-month high, according to RealtyTrac.

U.S. 30-year fixed-rate mortgage rates fell in the week ending Dec. 15 to 3.94 percent, matching an all-time historic low, according to Freddie Mac.