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UBS to shut U.S. asset-backed securities unit-paper

UBS is shutting its asset-backed securities business in the United States, Swiss newspaper HandelsZeitung reported on Thursday without citing sources.

Analysis: Olympus Scandal Puts Auditors Under Scrutiny

Olympus Corp's use of accounting tricks to hide big losses has raised questions about whether its auditors, the Japanese arms of global giants KPMG and Ernst & Young, should have done more to follow up on red flags.

Home Prices Fall in 74 Percent of Major U.S. Cities in 3Q

Median home prices fell in 111 of 150 metro areas in the third quarter, according to the National Association of Realtors.

General Growth Properties Earnings up in 3Q on Higher Rent Renewals

General Growth Properties, the large mall operator that exited bankruptcy protection last year, reported core funds from operation (FFO), which measures its ability to generate cash, of $224.2 million, or 23 cents per share, up slightly from FFO of $223.2 million in 2010.

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Job Growth to Boost Office, Industrial Markets, but Recovery Remains Uneven

Improved job growth and positive leasing fundamentals point to continued recovery in the office and industrial sectors, but buyers continue to focus on major cities over tertiary markets, according to a webcast on Tuesday from commercial real estate brokerage Marcus & Millichap.

Canadian Housing starts ease but beat expectations

Canadian housing starts slipped in October, but came in higher than expectations, as low interest rates and condominium building helped offset the impact of negative global economic news.

Pressure intensifies on mortgage lenders

U.S. Underwater Mortgages up in 3Q: Zillow

The number of homeowners with debt greater than the vaue of their homes rose to 28.6 percent in the third quarter, according to Zillow.

A realtor sign is displayed near a house for sale in Phoenix

U.S. Mortgage Delinquencies Rise for First Time Since 2009: TransUnion

More homeowners were 60 days late or more on mortgage payments in the period of June to September, the first increase since the end of 2009, according to credit reporting agency TransUnion.

AIG Shows Why World’s Current Predicament is a Financial Crisis

Perhaps the most invidious, appalling action during the financial crisis was the decision by the U.S. Federal Reserve to take over New York-based American International Group (AIG) in Sept. 2008. And it was the most necessary.

Societe Generale Scraps Dividend After Rough Q3

Societe Generale , France's second-biggest listed bankon, scrapped its 2011 dividend on Tuesday to help bolster capital when reporting quarterly profit fell sharply, hit by charges including Greek debt writedowns.

Morgan Stanley accused of misleading on mortgage debt

Morgan Stanley said a group of investors had accused it of selling defective mortgage bonds contained in more than $6 billion of trusts, signaling that it may face litigation over its involvement.

A view of the Morgan Stanley headquarters building in New York's Times Square

Morgan Stanley Says Warned on $6 billion Mortgage Debt

Morgan Stanley said a group of investors believes the bank may have sold defective mortgage bonds contained in more than $6 billion of trusts, signaling that it may face litigation over its involvement.

New York, Delaware AGs to Complete 'Critical' Part of Mortgage Crisis Probe Soon

State attorneys general Eric Schneiderman of New York and Beau Biden of Delaware have teamed up to investigate mortgage crisis.

File photo shows the headquarters of mortgage lender Freddie Mac in McLean

Most Refinancings Maintained or Reduced Mortgage Debt in 3Q: Freddie Mac

Most homeowners who refinanced their mortgages reduced their debt or stayed at the same loan value, according to third-quarter analysis by Freddie Mac.

Home Sales Mixed, Foreclosure Starts Down in September: HUD

September home sales showed mixed trends, but year-over-year foreclosures starts were down, suggesting some market recovery, according to the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury's October Housing Scorecard.

Obama Approval Rating Rises: Poll

President Barack Obama's approval rating increased to 49 percent, up from 47 percent, according to the latest Reuters/Ipsos poll.

Starwood Property Trust Net Income Drops to $14.5 Million, Citing CMBS Slowdown

Barry Sternlicht's Starwood Property Trust reported net income in the third quarter of $14.5 million, down from $22.7 million in the same period in 2010.

California Asks Fannie, Freddie Cut Mortgage Debt

The California attorney general on Thursday called on Fannie Mae and Freddie Mac to cut mortgage debt on the loans they own, a suggestion the government entities have long resisted.

Canada agency sees moderating house starts, prices

Canadian housing starts are expected to stabilize into 2012, while sales of existing homes will rise slightly and price rises will moderate, Canada Mortgage and Housing Corp (CMHC) said in its quarterly outlook on Friday.

Late Chinese leader Mao Zedong is seen on a 100 yuan banknote in this photo illustration taken in Beijing

Luxury London Homes Best Bargain for Chinese Buyers

Chinese luxury home buyers are leading a legion of cash-rich non-UK investors in search of upmarket London homes, with demand driven by currency exchange rates that produce discounts of up to a quarter on purchase prices, research shows.

An image showing the headquarters of Fannie Mae and Freddie Mac

Loan Limits at Fannie Mae, Freddie Mac to Rise This Month: Analyst

FBR Capital Markets believes the amendment to re-raise the loan limits at Fannie Mae and Freddie Mac in high-cost areas will be in the final bill and be enacted into law later this month.

Freddie Mac Reports $4.4 Billion Loss, Requests $6 Billion From Treasury

Freddie Mac reported a $4.4 billion loss in the third quarter on Thursday and requested $6 billion in additional aid from the U.S. Treasury Department.

Fed Lowers GDP Forecast, Holds Policy Steady

The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe's debt crisis posed big downside risks to the U.S. economy.

FOMC Minutes Reveal Inflation Controlled Unemployment Remains Problematic: Live Video

The Monetary Policy report from the FOMC was released today as Federal Reserve Chairman; Ben Bernanke will offer his third live video press conference of the year today at 2:15 EDT.

BofA Employees Flood Bank's Rivals With Resumes

Bank of America Corp. employees are flooding rival companies with resumes as a major cost-cutting program gets under way at the second-largest U.S. bank

Chairman of the Federal Reserve Ben Bernanke

Fed to Hold Steady Despite Global Risks

The Federal Reserve looks set to take a breather from monetary stimulus measures on Wednesday, even if financial market turbulence heightens the chances of action later.

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