Thanks to the brightening employment picture and an uptick in the housing market, Americans are packing up and relocating. And the pace is likely to pick up this summer.» Read More
The regulator of Fannie Mae and Freddie Mac eased capital requirements for the two firms, allowing them to pump up to $200 billion into the distressed mortgage market.
The regulator for Fannie Mae and Freddie Mac will on Wednesday announce that the two U.S. mortgage finance companies have won relief from stringent capital rules and so can pump about $200 billion into a shaky mortgage market, sources familiar with the plan said on Tuesday.
The FBI's criminal probe of the mortgage lending industry has grown to 17 firms, involves large companies, and could take years to conclude, bureau officials said on Tuesday in a Reuters interview.
U.S. home builder sentiment remained mired near historic lows in March, the National Association of Home Builders said Monday, as the worst housing slump since the Depression kept buyers and home financing in short supply.
A fire sale of Bear Stearns stunned Wall Street and pummeled global financial stocks on Monday on fears that few banks are safe from deepening market turmoil.
A mortgage bailout plan hatched between Wall Street and Congress is gaining political traction even though it could be on a crash-course with the Bush administration.
Subprime mortgage write-downs could reach $285 billion, but an end to the write-downs is in sight for big financial firms, S&P said.
Standard & Poor's helped stocks rebound by saying that an end to subprime mortgage writedowns is in sight for big financial institutions.
Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates, a research firm said Wednesday.
The subprime crisis may have wiped billions of dollars off the value of global real estate markets, but it is much easier to make money in today's market than a year ago, the joint CEO of RREEF Europe told Reuters.
U.S. financial regulators pledged to toughen rules for mortgage brokers, lenders and credit agencies in a bid to ease a credit crunch.
London is still by far Europe's priciest business location, but the cost of buying an office, as opposed to leasing one, is now greater in Madrid, Paris, Dublin, Munich, Barcelona, and Stockholm, according to a report issued on Wednesday.
In scathing criticism of their failure to understand the risks of the subprime market, a Federal Reserve policymaker on Tuesday lambasted top bankers and called for much more prudence in lending.
The federal authorities have opened a criminal inquiry into Countrywide Financial for suspected securities fraud as part of the continuing fallout over the mortgage crisis, government officials with knowledge of the case said on Saturday.
Thornburg Mortgage on Friday said its survival is at stake because it is unable to meet $610 million of margin calls.
Weak economic indicators pushed interest rates on U.S. 30-year mortgages down this week after three consecutive weeks of gains, home funding company Freddie Mac said on Thursday.
Americans' percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday.
Thornburg Mortgage, said on Wednesday, its failure to meet a margin call has triggered defaults under a variety of lending agreements and its obligations under those agreements are "material."
Merrill Lynch said its First Franklin subprime lending unit will stop offering mortgages, resulting in a loss of 650 jobs, and it will try to sell the part of the operation that handles billing and collections.
Shares of Fremont General plunged to an all-time low on Tuesday after the real estate lender said it didn't believe it would be compliant with a loan covenant because of write-downs in its fourth quarter.