Regulators are close to an agreement with Fannie Mae and Freddie Mac to settle a case over disclosing their exposure to risky subprime loans, The New York Times reported on Thursday.
President Barack Obama proposed a $447 billion package of tax cuts and spending measures on Thursday aimed at spurring growth and hiring.
A lawsuit accusing several mortgage lenders of fraud over home loans maintained within the industry's private electronic database cannot proceed, according to a U.S. appeals court ruling.
General Electric Co said it would vigorously contest a lawsuit by the Federal Housing Finance Agency, which said the conglomerate's former WMC unit made inaccurate statements about the sale of two residential mortgage-backed securities.
Demand for U.S. home loans fell for a third straight week last week although mortgage rates fell to or near record lows, an industry group said on Wednesday.
JPMorgan Chase & Co and Bank of America led bank stocks lower on Tuesday after mortgage lawsuits filed late on Friday aggravated investor fears that the biggest banks could face massive legal liabilities.
JPMorgan Chase & Co, the second largest U.S. bank by assets, led a broader decline in bank share prices, as investors feared lenders face a growing list of lawsuits due to problem mortgages.
Wall Street stock futures pointed to a lower open for equities on Tuesday on renewed fears the euro zone's sovereign debt crisis is worsening, with shares seen tracking a slump in European stocks on Monday when the U.S. market was closed.
European financial markets steadied Tuesday, with the euro jumping against the Swiss franc, after a sharp sell-off a day earlier due to fears for the euro zone's future and that of its banking sector.
State prosecutors accusing major U.S. banks of improper mortgage practices have offered them a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported Tuesday.
Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported on Tuesday.
The European Union imposed a ban on purchases of Syrian oil on Saturday and targeted three Syrian firms in an expanded sanctions list meant to intensify pressure against President Bashar al-Assad's government.
The agency that oversees mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, The New York Times reported on Thursday.
Some of the nation's largest banks are under threat of a mortgage lawsuit from the federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac.
European shares fell sharply on Friday, snapping a four-session rally, as traders feared U.S. non-farm payrolls numbers could signal a return to recession.
Goldman Sachs Group Inc completed the long-awaited sale of its mortgage servicing unit on Thursday after having reached agreements with the Federal Reserve and New York state's banking regulator over wrongful foreclosures.
A New York state banking regulator said on Thursday that it had reached a pact with Goldman Sachs Group Inc on foreclosure processes that will allow the planned sale of its Litton Loan Servicing LP to continue.
Trust Company of the West rested its court case against its former chief investment officer, star bond fund manager Jeffrey Gundlach, in the high-stakes trial that has drawn the attention of the financial services industry.
The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.
The pace of U.S. private sector job growth slowed in August for the second month in a row, but factory activity in the Chicago area continued to expand, suggesting the economy would dodge a recession.
Applications for U.S. home mortgages tumbled last week as demand for refinancing sagged for the second week in a row, an industry group said on Wednesday.
