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.
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.
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.
Bank of America Corp is looking to sell its correspondent mortgage business and the unit's employees could be notified as soon as Wednesday, the Wall Street Journal said, citing people familiar with the matter.
Bank of America Corp was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the bank to buy back the underlying loans because of alleged misrepresentations in how they were made.
U.S. home prices dipped just 0.1 percent in June from May, according to Case-Shiller -- providing a ray of light that the U.S. housing market may be stabilizing.
Bank of America Corp. was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the largest bank to buy back all of the loans in the trust because of alleged misrepresentations.
The FDIC and more than three dozen other investors on Monday lodged objections to Bank of America Corp's $8.5 billion settlement of claims over losses on mortgage-backed securities, joining a growing list of investors and regulators that are challenging the accord.
Star bond fund manager Jeffrey Gundlach was in discussions to leave Trust Company of the West and succeed Bill Gross at Pacific Investment Management in 2009, according to court testimony.
Thousands of Washington lobbyists are scrambling to influence the work of a congressional super committee given the job of identifying up to $1.5 trillion in deficit reductions, with many worried about how to gain access to its 12 members.
Conventional wisdom in legal circles has long held that Goldman Sachs (GS.N) might escape further large fines or criminal charges for its role in the 2007-2009 financial crisis after reaching a $550 million settlement with securities regulators in July 2010.
Aiming to spark job growth in California, Governor Jerry Brown unveiled proposals for tax breaks for businesses, including tax relief for companies that buy new manufacturing equipment.
Presidential candidate Rick Perry has touted Texas' thriving economy as a sign that he would make an excellent economic steward, but one of his proposals might not do so well on a national scale: a plan to let Wall Street gamble on when retired Texas teachers would die.
Trust Co of the West worked for months in secret to acquire an entire firm to replace its star bond fund manager Jeffrey Gundlach and his mortgage-backed securities department before terminating him, TCW's chief executive testified in court.
Bank of America's shares skyrocketed 25 percent on Thursday after announcing Warren Buffett's $5 billion investment in the company.
The Obama administration is working on proposals to prop up the weak housing market and may back a plan to refinance government-backed mortgages at today's lower interest rates, the New York Times said, citing two people briefed on the discussions.
Trust Company of the West CEO Marc Stern asked his legal team to monitor the emails of ex-employee and star bond fund manager Jeffrey Gundlach after growing suspicious of his intentions to start a new firm, the CEO testified on Wednesday.
Large U.S. banks defending themselves against a mass of state and federal mortgage probes face a difficult tactical decision following New York state's exit from settlement talks on Tuesday.
If U.S. Federal Reserve Chairman Ben Bernanke needs any more evidence regarding the slowdown in the U.S. economic recovery, he need look no further than U.S. housing prices, which have fallen for 17 consecutive quarters
Bank of America shares surged more than 11 percent on Wednesday after J.P. Morgan predicted the company would raise capital in the near future.
