The long-anticipated settlement is expected to consist of a penalty of $9.6 billion and a package of consumer-relief measures valued at $7 billion.» Read More
A $10 billion settlement to resolve claims of foreclosure abuses by major lenders is expected to be announced on Monday, sources said Sunday. The New York Times reports.
Despite the overall drop in foreclosures, a huge backlog of homes already in the foreclosures process are finally going back to the banks in big numbers.
FHA is short $56 billion in reserves, with Stephen Meister, Meister, Seelig & Fein; and SEIU activists are protesting outside Los Angeles Airport, with Mary Kay Henry, SEIU International president.
The housing recovery can't gather steam until tight-fisted banks loosen tough lending standards put in place after the worst housing crisis since the Great Depression.
Capital and liquidity rules for the biggest UK banks have been quietly relaxed in an effort to stimulate lending, a move that puts Britain at the forefront of a global experiment to use bank regulation to moderate the economic cycle.
The concerns about municipal finances are overdone, Alexandra Lebenthal, CEO of Lebenthal & Company, told CNBC’s “Closing Bell” on Friday.
Despite concerns about ballooning public pension expenses, municipal defaults are still relatively low, Alexandra Lebenthal, Lebenthal & Company president and CEO, told CNBC’s “Squawk Box” on Thursday.
The U.S. housing market is showing signs of recovery and investors should be looking at non-agency mortgages, the very asset class that prompted the global financial crisis, according to Gregory Perdon, Co-Chief Investment Officer at Arbuthnot Latham & Co.
About 19 percent of all auto loans are subprime or deep subprime, according to Experian. CNBC's Phil LeBeau reports.
CNBC's Rick Santelli and Phil LeBeau discuss pursuing profit in subprime auto lending.
CNBC's Herb Greenberg reports on a subprime lender charging up to 204 percent on its loans.
Josh Birnbaum, Tilden Park Capital founder & CIO, explains how his trades against the U.S. subprime mortgage market in 2007 made nearly $4 billion for Goldman Sachs, and weighs in on how to play a housing recovery.
The average new car auto loan grew as consumers are expanding the length of their loan, reports CNBC's Phil LeBeau.
Breaking down how Japan's debt compares to the U.S market, and where value exists, with Steven Tananbaum, GoldenTree Asset Management; Kyle Bass, Hayman Capital Management; and CNBC's Gary Kaminsky.
Investors pouring their money into long-term government bonds are deluding themselves into thinking they're getting safety against economic turmoil, hedge fund titan Paul Singer said.
Discussing incentive and subprime lending trends in the auto industry, with Jessica Caldwell, Edmunds.com and CNBC's Phil LeBeau.
Discussing the state of banks and their subprime customers, with Craig Maurer, CLSA equity analyst and Scott Valentin, FBR Capital Markets analyst.
With the financial industry recovering and fee income reduced by new regulations, lenders are seeking to woo back less creditworthy borrowers. The New York Times reports.
CNBC's Diana Olick has the details on new data out showing that Americans might be a little more hopeful when it comes to the value of their house.
CNBC's Diana Olick has the story on the rough road for housing and whether rising interest rates will impact the market.