U.S. homeowners facing foreclosure action haven't made a mortgage payment in an average of 17 months, compared to 11 months two years ago, and the time frame may increase, according to a USA Today report.
New York's chief judge has taken steps to provide homeowners facing foreclosure legal representation free of charge.
The U.S. Securities and Exchange Commission (SEC) has sued a former CEO and two former CFOs of failed mortgage lender IndyMac Bankcorp, accusing them of securities fraud.
The head of Fannie Mae and his firm's government overseer on Tuesday defended the use of millions of taxpayer dollars to pay legal bills for former executives accused of fraud.
Fannie Mae has booted Florida-based foreclosure law firm Ben-Ezra & Katz from its retained attorney network after noticing that the firm was not handling its matters in strict compliance with proper procedures, ethical codes of conduct and legal requirements.
Many U.S. consumers have no choice and are held captive to home mortgage-related companies that are often aggressively fast, commit errors in paperwork and refuse to answer questions, and whose continuing problems are holding back the country's economic recovery, a top U.S. regulator said on Friday.
The Obama administration favors creating a national standard for mortgage servicers such as Bank of America Corp and JPMorgan Chase & Co that have been accused of botching home foreclosure procedures.
The U.S. home loan demand fell sharply in the week ended Feb. 4, as the mortgage rates continue to rise from their lowest levels amid growing confidence on the economic conditions of the nation, the Mortgage Bankers Association (MBA) said on Wednesday.
New JPMorgan fund will buy distressed real estate debt, even though many critics believe that the firm itself is, in part, responsible for much of the distressed real estate in the U.S.
Saudi Arabia has eased its real estate and investment laws to allow foreigners residing and working in the kingdom to purchase and own properties there. The move is widely seen as a way to revive the country’s moribund real estate market.
Workers union sues Bank of America and its Countrywide unit for not disclosing mortgage crisis sooner
Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.
The U.S. Treasury said Wednesday it is close to turning a profit on direct bailout investments in the nation's banks, but still expects to post an overall loss in its financial bailout fund due to foreclosure prevention costs for homeowners.
A survey by London-based Brand Finance Plc of banks, based on the notional amount that a company would have to pay for the brand, has ranked the Bank of America as the most valuable banking brand with an estimated price of $30.6 billion.
Goldman Sachs allegedly received $2.9 billion in bailout money from American International Group, which in turn received it from the Federal government as part of the 2008 bailout package.
Deceased actress Brittany Murphy's home in the Hills above the Sunset Strip in Los Angeles, CA has invited foreclosure and has been slapped with a Notice of Sale with an opening bid of $4,035,666, according to the reports.
Scott Farah, the head of New Hampshire-based failed mortgage firm Financial Resources Mortgage has been sentenced to 15 years in prison by a federal judge for duping hundreds of investors.
A Massachusetts-based lawyer, who was suspended for defrauding 10 mortgage lenders of more than $10.6 million, has been sentenced to 12 years in prison.
The U.S. Securities and Exchange Commission is investigating dealings between former Massachusetts Treasurer Timothy Cahill and a former top aide who now works at Goldman Sachs .
Federal bankruptcy judges in Delaware are due to hold separate hearings Monday on requests by two defunct subprime mortgage lenders to destroy thousands of boxes of original loan documents.
Mortgage applications in the U.S. rose during the week ended January 14 as interest rates dipped to lowest levels in a month, the Mortgage Bankers Association (MBA) said on Wednesday.
The Obama administration on Tuesday stepped up efforts to make it easier for struggling homeowners to renegotiate the terms of their mortgage, although it could be more than a year before such efforts pay off.