Jon Daurio, chief executive officer of mortgage investor Kondaur Capital Corp., recently offered a $4,000 check to Barry Culver for the deed to his Bryan, Ohio house.
An Obama administration program to help struggling homeowners modify their mortgages has more than one million active borrowers,
Bank of America Corp completed 20,666 mortgage modifications in March under a U.S. government-backed program, up 61 percent from February, the bank said on Friday.
Wells Fargo & Co may be moving toward a settlement of Baltimore's lawsuit accusing it of steering minority borrowers to expensive home loans.
U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.
U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
U.S. mortgage applications nudged up last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday.
State-owned Northern Rock shrank its losses in 2009, helped by a lower bad debt charge in the second half as house prices stabilized, but arrears rose and the lender warned loan impairments would stay high in 2010.
Two AIG units settled federal charges that they discriminated against black home buyers on fees for mortgages and will pay $7.1 million for restitution and education efforts, the U.S. Justice Department said on Thursday.
Four top executives of Thornburg Mortgage improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit.
Iceland can get by without more cash from the International Monetary Fund until it needs to refinance debt in 2011, although any big delay will hit its economy, a central banker said on Thursday.
U.S. mortgage rates retreated below 5 percent last week, propping demand for home loans after purchase applications sank to a nearly 13-year low the prior week, Mortgage Bankers Association data showed on Wednesday.
More homeowners are falling behind on their mortgages, jeopardizing the nascent housing recovery and raising the possibility that home prices have not found their bottom but could instead fall further.
An Obama administration program aimed at helping homeowners whose homes have declined in value get new loans has been extended another year, a key housing regulator said on Monday.
The U.S. Federal Deposit Insurance Corp is planning to sell $1.8 billion of guaranteed asset-backed debt, according to IFR, in what may be a step toward restoring confidence in securities closely tied to the financial meltdown.
U.S. mortgage rates rose for the first time in three weeks, leaping above 5 percent, a key level that could suppress demand for home loans, a closely watched mortgage survey showed on Thursday.
A mortgage banking group on Wednesday said it proposed to top U.S. officials a new plan offering forbearance to unemployed homeowners and asked the Treasury for credit to support the plan.
US mortgage applications fell for a third straight week, with demand for home purchase loans sinking to the lowest level in 13 years as inclement weather weighed.
A record proportion of U.S. mortgages were in foreclosure or at least one payment past due in the fourth quarter, according to industry data showing the fragile state of the recovery in the housing market.
A thorny inflation clause and a shopping list of military gadgets dominated closing stages of talks to rescue the delayed A400M troop plane on Thursday as France held out the prospect of a deal next week.
Expectations for defaults and losses in residential mortgage-backed securities continue to rise sharply in the United States, while tailing off in Britain, even as its economy has been slower to recover, a survey found.
Mortgage insurer PMI Group Inc reported a much wider-than-expected quarterly loss, as its U.S. unit continued to post disappointing results, sending its shares down 5 percent before the bell.
