A group of bondholders plans to challenge Bank of America Corp's $8.5 billion settlement with holders in soured mortgage-backed securities, saying it may be unfair to other bond investors.
Bank of America Corp and JPMorgan Chase & Co have started modifying tens of thousands of mortgages where the banks deem the loans especially risky, even if the borrowers have not asked, the New York Times reported on Sunday.
Congressional lawmakers looking for ways to reduce spending could look to the tax code, economists say.
A federal judge on Wednesday approved a $153.6 million settlement between JPMorgan Chase & Co and the top U.S. market regulator over allegations a mortgage CDO product defrauded the bank's investors at the time of the housing market collapse.
The companies whose shares are moving in pre-market trade on Wednesday are: Bank of America, AK Steel Holding, Archer Daniels Midland, Analog Devices, Legg Mason, Monsanto, United States Steel, KB Home, General Mills and Family Dollar Stores.
Time was, you could 'bank on' certain trends in the United States: ample career positions for new college graduates, rising incomes, and rising home prices. Times have changed, and regarding the latter, today's unforgiving U.S. housing sector makes due diligence all-the-more important for prospective home buyers.
China faces a housing bubble crisis and $1.6 trillion in debt owed by local governments that threatens global economic powers, including the U.S.
FBR Capital Markets remains positive on the Marcellus Shale as a catalyst for banks in Western Pennsylvania, following a recent investor field trip. Meanwhile, the brokerage upgraded its rating on shares of First Commonwealth Financial Corp. (FCF) to "outperform" from "market perform".
Snow White and the Seven Dwarfs (1937) was the very first full-length animated feature in the history of motion pictures. Created by Walt Disney, it may have been technically surpassed by sophisticated animation films that followed, but remains incomparable for the endearing characters, real emotions, and fine storytelling.
One of the many problems hampering the speed and strength of the economic recovery has been the very restrictive lending guidelines that have arisen since the start of the financial crisis.
It's been said that Congress doesn't react unless American voters compel it to do so. Well, U.S. Treasury Secretary Timothy Geithner is imploring Congress to 'get ahead of the curve,' on the budget deficit / debt ceiling issue, as the consequences of not acting could be enormous: it would leave the U.S. vulnerable to rising interest rates, if the Greece debt situation triggers another financial contagion.
Firm settles regulatory probe for misleading investors
JPMorgan Chase & Co said it agreed to pay $153.6 million to settle U.S. Securities and Exchange Commission charges that it misled investors about a mortgage securities transaction just as the nation's housing market was starting to plummet.
JPMorgan Chase, the Wall Street bank that during the financial crisis has managed to remain afloat has agreed to pay $153.6 million to settle claims by the U.S. Securities and Exchange Commission it designed and sold a product linked to risky mortgages during the housing market collapse of 2007.
The companies whose shares are moving in pre-market trade on Tuesday are: Best Buy, Micron Technology, Biogen Idec, Aetna, Discover Financial, Weatherford International, CVS, Country Style Cooking, Walgreen, Invesco Mortgage and Motorola Mobility Holdings.
Applications for home mortgages saw their biggest jump in three months last week, fueled by demand for refinancing as interest rates continued to fall, an industry group said on Wednesday.
JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who had been sidelined in February after the bank racked up billions of dollars in losses on mortgages and became mired in litigation over foreclosures.
Here is the full-text of Enoch Powell’s famous (some would say infamous) “Rivers of Blood” speech on immigration. It was delivered to a Conservative Association meeting in Birmingham, England on April 20 1968.
The speech led to Powell being sacked by Prime Minister Edward Heath and might be considered the pivotal moment of Powell’s long political career.
JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who was sidelined in February after the bank racked up billions of dollars in losses on soured mortgages and became mired in litigation over a wave of foreclosures.
Bank of America Corp will not likely need to raise capital unless it is forced to recognize mortgage losses sooner than expected or is required to boost capital levels faster, a Sanford Bernstein analyst wrote on Monday.
New York's top legal officer is seeking information from Deutsche Bank AG and Bank of New York Mellon about their role as trustees for mortgage-backed securities, an expansion of his probe of mortgage practices, said a person familiar with the matter.
The new chief executive of bailed out British bank Lloyds Banking Group (NYSE: LYG) is planning to cut another 15,000 jobs, on top of the 28,000 positions the bank has already eliminated since it merged with HBOS in early 2009.
