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N.Y. to sue Bank of America, Wells Fargo over alleged violations of mortgage deal
New York Attorney General Eric Schneiderman on Monday threatened to sue Bank of America and Wells Fargo for allegedly failing to help struggling homeowners under the $ 25 billion national mortgage settlement. Read full article >>
Mortgage rates continue five-week decline
In the wake of weak economic growth reports, mortgage rates continued their five-week descent, according to the latest data released by Freddie Mac. The 30-year fixed-rate average fell near its all-time low, dropping to 3.35 percent with an average 0.7 … Continue reading
CORRECTED-UPDATE 2-Wells Fargo profit beats, but mortgage business slows
(Changes paragraph 3 to bust instead of boom. The error first occurred in Update 1.)
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Tagged 2Wells, beats, business, CORRECTEDUPDATE, Fargo, mortgage, profit, slows
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UPDATE 3-Wells Fargo profit beats, but mortgage business slows
* Shares down in afternoon trading (Adds CFO, CEO and analyst comments, updates stock)
UBS in settlement talks with SEC over mortgage bond deal: WSJ
(Reuters) – UBS AG is in talks with the Securities and Exchange Commission to settle allegations the bank defrauded investors in a mortgage bond deal that soured during the financial crisis, the Wall Street Journal reported, citing people familiar with … Continue reading
Mortgage rates reverse course
After weeks of heading up, mortgage rates reversed course this week, according to the latest data released by Freddie Mac. The 30-year fixed-rate average fell to 3.54 percent with an average 0.8 point, a week after soaring to its highest … Continue reading
Ally banking subsidiary sells mortgage unit to Walter
Feb 18 (Reuters) – Ally Financial Inc’s banking subsidiary said on Monday it agreed to sell a mortgage unit to Walter Investment Management Corp as the U.S. auto lender continues to pull back from the home loan business.
Mexico’s Banorte seeks $1.49 bln in new mortgage loans in 2013
MEXICO CITY, Feb 11 (Reuters) – Grupo Financiero Banorte plans to make 19 billion pesos ($ 1.49 billion) in new, individual mortgage loans this year, Mexico’s fourth largest bank said on Monday.
The Death of the Mortgage Broker?
New rules about how mortgage brokers are paid will start next year.
Consumer bureau hands down stricter rules for mortgage servicers
The horror stories were astonishing: Homeowners being kicked out of their homes on the basis of forged documents,. Others were working with mortgage servicers to lower their monthly payments while simultaneously being placed in foreclosure by the same company. Read … Continue reading