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Existing Home Sales Rise 1.2 Percent in October

Sales of existing homes in Canada rose in October to the highest level since January, boosting forecasts for national resale activity for 2011 and confirming Canada's housing market remains robust.

Is It Time for a Better U.S. Banking System?

With a banking sector that seemingly cycles from reticence to lend, lending at prohibitive interest rates, and outright banker-to-banker mistrust (the latest round of which is being driven by renewed concern about Italy's debt), is today's U.S. banking sector where Framer/Founding Father Alexander Hamilton wanted it to be?

Mortgage Applications Fall in Latest Week: MBA

A view of a home for sale in Los Angeles

Applications for U.S. home mortgages dropped last week, erasing the gains of the week before as demand for refinancing evaporated, an industry group said on Wednesday.

BofA Learned a Lesson from Debit Card Fury - CEO

Bank of America Corp. learned a lesson from its abandoned debit card fee and will work to provide transparency and fair pricing to customers while producing a return for shareholders, Chief Executive Brian Moynihan said on Tuesday.

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Personal Finance: Marriage Is Taxing for Same-Sex Couples

After 13 years together, Maggy Porter and Arlene Bronfman began to talk last June about marriage when New York State passed its Marriage Equality Act.

A couple listens as a representative from Freddie Mac talks to them about a loan modification for their home

U.S. 30-Year Mortgage Rate Drops to 3.99 Percent: Freddie Mac

The U.S. 30-year fixed-rate mortgage rate dropped slightly to 3.99 percent in the week ending Nov. 10, according to Freddie Mac's Primary Mortgage Market Survey.

U.S. Foreclosures up 7 Percent in October, Hit Seven-Month High

U.S. foreclosure filings increased by 7 percent in October to a seven-month high, according to data from RealtyTrac.

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.

Mortgage Applications in U.S. up 10.3 Percent

Mortgage applications increased 10.3 percent in the week ending Nov. 4, according to the Mortgage Bankers Association.

Mortgage applications jump on refinancing demand: MBA

Applications for U.S. home mortgages surged last week, driven by increased refinancing demand as interest rates dropped, an industry group said on Wednesday.

Fannie Mae taps $7.8 billion from Treasury, loss widens

Fannie Mae, the biggest source of money for U.S. home loans, on Tuesday said it needed a further $7.8 billion in federal aid to stay afloat as a shaky housing market widened its third-quarter loss to $5.1 billion.

A sign in front of the Fannie Mae headquarters is photographed in Washington

Fannie Mae Reports $5.1 Billion Loss, Seeks $7.8 Billion From Treasury

Fannie Mae reported a $5.1 billion loss in the third quarter on Tuesday, up from a $2.9 billion loss in the second quarter of 2011, and a $3.5 billion loss in the third quarter of 2010.

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.

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