MORTGAGE

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.

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.