Headline News and Feeds

Obama administration bolsters homeowner lifeline (Reuters)
Sat, 28 Jan 2012 03:31:38 GMT

Reuters - The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention program, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt.

Subpoenas issued to financial firms in expanded probe (Reuters)
Fri, 27 Jan 2012 23:57:22 GMT
Reuters - The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Justice unit to probe mortgage-backed securities (AP)
Fri, 27 Jan 2012 22:12:43 GMT

AP - Federal and state law enforcement officials announced Friday they have launched a fraud-fighting unit, starting with 55 prosecutors and investigators, to root out wrongdoing in the market for residential mortgage-backed securities.

US gov't to extend and expand foreclosure program (AP)
Fri, 27 Jan 2012 20:37:59 GMT
AP - The Obama administration said Friday that will expand its signature foreclosure-prevention program to try to help those with heavy debt loads avoid losing their homes.

Analysis: Banks expect to spend less on bad mortgages (Reuters)
Fri, 27 Jan 2012 20:22:23 GMT
Reuters - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.

D.R. Horton profit beats on higher home orders (Reuters)
Fri, 27 Jan 2012 13:11:30 GMT
Reuters - D.R. Horton Inc , the top U.S. homebuilder, posted a first-quarter profit that beat market expectations, helped by a surge in orders indicating a stabilizing housing market, and said it was looking at spring selling season with "cautious optimism."

World stocks slide as US growth data disappoint (AP)
Fri, 27 Jan 2012 17:15:55 GMT

AP - World stocks turned lower on Friday after official data showed the U.S. economic recovery was not as fast as many had hoped.

Gingrich, Romney attack each other on foreclosures (AP)
Fri, 27 Jan 2012 01:47:40 GMT
AP - Rivals Newt Gingrich and Mitt Romney are trading barbs over their income from mortgage firms Fannie Mae and Freddie Mac.

Rate on 30-year fixed mortgage rises to 3.98 pct. (AP)
Thu, 26 Jan 2012 22:39:03 GMT
AP - The average rate on the 30-year fixed mortgage rose this week for the first time this month, though it remained below 4 percent for the eighth straight week.

Mortgage rates for the past 52 weeks, at a glance (AP)
Thu, 26 Jan 2012 22:17:18 GMT
AP - Mortgage rates for the past 52 weeks, at a glance

Candidates unloved in FL town hit by foreclosures (AP)
Thu, 26 Jan 2012 21:28:51 GMT

AP - At Our Daily Bread Food Pantry, the conversation often centers on real estate. Once taboo details — home values and what people paid for their properties — are casually discussed, and there appears to be little shame in walking away from a mortgage or fighting the bank on a foreclosure.

Bank of America extends drop in mortgage rankings (Reuters)
Thu, 26 Jan 2012 21:15:26 GMT
Reuters - Bank of America Corp was the fourth-biggest U.S. mortgage lender in the fourth quarter of 2011, continuing its descent in the rankings after it stopped buying loans made by smaller banks.

Foreclosures account for 12 percent of La. sales (AP)
Thu, 26 Jan 2012 18:21:13 GMT
AP - Foreclosures made up for 12 percent of all Louisiana homes sold in the third quarter of 2011.

16 percent of Q3 Ill. home sales were foreclosures (AP)
Thu, 26 Jan 2012 16:50:56 GMT
AP - Sixteen percent of homes sold in Illinois in the third quarter of 2011 were in foreclosure or owned by a bank.

New-home purchases fall, 2011 worst ever for sales (AP)
Thu, 26 Jan 2012 16:07:09 GMT

AP - Fewer people bought new homes in December. The decline made 2011 the worst year for new -homes sales on records dating back nearly half a century.

New home sales fall in December (Reuters)
Thu, 26 Jan 2012 15:04:07 GMT
Reuters - New single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year.

JPMorgan CEO says foreclosure deal threatened (Reuters)
Thu, 26 Jan 2012 12:54:01 GMT
Reuters - JPMorgan Chase & Co Chief Executive Jamie Dimon said President Barack Obama's decision to expand investigations into home lending and sales of mortgage securities could stop settlement talks with the states over foreclosure practices.

Foreclosures made up 20 pct. of home sales in 3Q (AP)
Thu, 26 Jan 2012 05:21:27 GMT
AP - Foreclosures made up a smaller slice of all U.S. homes sold in last year's third quarter, as banks delayed placing properties for sale and home sales slowed.

Illinois attorney general sues Standard & Poor's (AP)
Thu, 26 Jan 2012 01:16:03 GMT
AP - The Illinois attorney general filed a lawsuit Wednesday accusing Standard & Poor's of misleading investors by assigning its highest ratings to risky mortgage-backed investments during the years leading up to the crash of the housing market.

California calls mortgage settlement "inadequate" (AP)
Wed, 25 Jan 2012 23:29:22 GMT
AP - California officials are refusing to sign a proposed settlement between U.S. states and the nation's biggest mortgage lenders over deceptive foreclosure practices, calling it "inadequate."