AP - New York’s attorney general on Friday accused some of the nation’s largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures while saving banks over $2 billion.
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NY’s Schneiderman sues banks in foreclosure effort (AP)
Homebuilders see stable housing market ahead (AP)
AP - The CEOs of some of the nation’s biggest homebuilding companies say the housing market appears to have stabilized.
Rate on 30-year mortgage falls to record 3.87 pct. (AP)
AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
Rate on 30-year mortgage falls to record 3.87 pct. (AP)
AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
Credit Suisse exec charged in NY mortgage probe (AP)
AP - The desire to fatten year-end bonuses motivated a Credit Suisse executive and two of his employees to conspire to hide the deteriorating condition of the U.S. housing market in 2007 to keep the value of bonds based on subprime mortgages artificially high, authorities said Wednesday.
Credit Suisse exec charged in NY mortgage probe (AP)
AP - The desire to fatten year-end bonuses motivated a Credit Suisse executive and two of his employees to conspire to hide the deteriorating condition of the U.S.
Obama plan to lower mortgage payments could help, but how much? (The Christian Science Monitor)
The Christian Science Monitor - President Obama fleshed out a new mortgage-relief plan Wednesday, saying the steps he outlines would “help millions of responsible homeowners” and the US economy.
Exclusive: Mortgage deal would give states enforcement clout (Reuters)
Reuters - A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.
2 NY pleas in federal sub-prime mortgage probe (AP)
AP - Two former Credit Suisse traders pleaded guilty to conspiracy and signed cooperation agreements Wednesday in a long-running probe of the federal sub-prime mortgage securities market that was expected to result in more arrests.
Obama calls for $5-10 billion for home refinancing (Reuters)
Reuters - President Barack Obama on Wednesday called on Congress to approve a $5 billion to $10 billion effort to help U.S. homeowners refinance as part of a wider package of proposals to shore up the depressed housing market.
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