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  • Top mortgage firm accused of abuses Tuesday, 21 Oct 2014 | 1:01 PM ET

    One of the nation's largest servicers of home loans may have denied struggling borrowers the chance to fix loan problems and avoid foreclosures, New York's financial regulator has alleged. An investigation by the state's Department of Financial Services found that Ocwen Financial Corp. inappropriately backdated foreclosure warnings and letters that...

  • NEW YORK, Oct 21- Ocwen Financial Corp, one of the largest U.S. companies that collects mortgage payments, may have harmed hundreds of thousands of borrowers by sending them letters about loan modifications and foreclosures that were dated months earlier, New York's financial regulator said on Tuesday. The company, which has been under scrutiny by New York's...

  • New rules adopted in hopes of spurring home loans Tuesday, 21 Oct 2014 | 10:32 AM ET

    WASHINGTON— Buying a home may have gotten a little easier this week. With the financial crisis and subprime mortgage bust receding further into history, the government is loosening some financial rules, hoping to inject more life into the country's still-recovering housing market. The board of the Federal Deposit Insurance Corp. voted 4-1 Tuesday to adopt...

  • Capital One shares fall as 3Q profit disappoints Thursday, 16 Oct 2014 | 7:11 PM ET

    MCLEAN, Va.— A bigger buffer against loan losses weighed on Capital One Financial Corp.' s third-quarter earnings. The McLean, Virginia- based company said Thursday that it had profit of $1.08 billion, or $1.86 per share. Analysts expected $5.54 billion, according to Zacks Investment Research.

  • Capital One trails St on higher loan loss provision Thursday, 16 Oct 2014 | 6:13 PM ET

    Capital One Financial reported a lower-than-expected profit as it set aside more money to cover soured loans.

  • *Third-quarter net profit $1.86/ share vs est $1.94. Oct 16- Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a lower-than-expected quarterly profit as it set aside more money to cover soured loans. The company's net income attributable to shareholders fell 2.9 percent to $1.06 billion, or $1.86 per share, for the...

  • Oct 16- Capital One Financial Corp reported a 2.9 percent fall in quarterly profit as it set aside more money to cover soured loans. The company's net income attributable to shareholders fell to $1.06 billion, or $1.86 per share, for the third quarter ended Sept. 30, from $1.09 billion, or $1.84 per share, a year earlier. Capital One raised its provision for credit...

  • Average US 30-year mortgage rate at 3.97 percent Thursday, 16 Oct 2014 | 10:23 AM ET

    WASHINGTON— Average U.S. mortgage rates tumbled this week. The 30- year loan hit its lowest level since June 2013 as Treasury bond yields marked new lows amid concern over global economic weakness. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30- year loan dipped to 3.97 percent from 4.12 percent last week.

  • MOSCOW, Oct 14- Gazprom discussed possible trade and corporate financing along with bond issues with Industrial and Commercial Bank of China Limited, one of the world's biggest, the Russian state-controlled gas company said in a statement. In May, Gazprom has signed a $400- billion gas deal to supply China with gas over 30 years. Gazprom added that bond issues...

  • RUSSIA'S GAZPROM SAYS DISCUSSES POSSIBLE TRADE AND CORPORATE FINANCING, BOND ISSUES WITH INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED.

  • *Agile Property shares close down 17.2 pct. HONG KONG, Oct 13- Chinese developer Agile Property Holdings Ltd, battling an industry slowdown and speculation about ties to China's former security chief, said it is in talks with banks about extending a bridge loan and the founder's family would commit to lending $200 million. Agile said Chen- whose family wealth of...

  • *Agile Property shares drop more than 20 pct. HONG KONG, Oct 13- Chinese developer Agile Property Holdings Ltd, battling an industry slowdown and media speculation about ties to China's former security chief, said it was in talks with banks about extending what remains of a $475 million loan due in December. Agile said Chen- whose family wealth of $3.2 billion was...

  • HONG KONG, Oct 13- China's Agile Property Holdings Ltd is in talks with banks to extend a remaining bridge loan, the company said on an analyst briefing call on Monday. Shares in the Hong Kong- listed property developer slumped by more than a fifth as trading in the stock resumed following news last week that it withdrew a rights issue and that its chairman Chen Zhuo...

  • Bernanke says he was reluctant on AIG bailout Friday, 10 Oct 2014 | 3:13 PM ET

    WASHINGTON— Former Federal Reserve Chairman Ben Bernanke etched a portrait Friday of his initial reluctance to have the central bank rescue American International Group Inc. in 2008. But he ultimately came to believe the $85 billion bailout loan to the company was needed to avert a shock to the financial system. "I did not make any personal judgments about the...

  • Bernanke defends AIG bailout in court Thursday, 9 Oct 2014 | 3:09 PM ET

    WASHINGTON— Former Federal Reserve Chairman Ben Bernanke testified in federal court Thursday that insurance giant American International Group Inc. had to be rescued by the government in 2008 to avert global catastrophe. Bernanke was one of the key decision makers on the bailout, which began with an $85 billion rescue loan from the New York Federal Reserve...

  • US mortgage rates down for third straight week Thursday, 9 Oct 2014 | 10:28 AM ET

    WASHINGTON— Average U.S. mortgage rates fell for the third straight week, making it more affordable to borrow to buy a home. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30- year loan fell to 4.12 percent from 4.19 percent last week. Average price growth has slowed, rising just 6.4 percent in August compared with a year ago, according...

  • MUMBAI, Oct 9- Plunging sugar prices have forced at least one Indian sugar mill to default on bank loans and could drive others to do the same, the latest sign of the heavy toll a four-year-old supply glut in the country is taking on producers of the sweetener. One of the country's largest sugar mills, Mawana Sugars Ltd, has defaulted on 2.5 billion rupees of...

  • WASHINGTON, Oct 8- Former U.S. Treasury Secretary Timothy Geithner defended the 2008 bailout of American International Group Inc for a second day on Wednesday, struggling at times to respond to increasingly contentious questions about the government's efforts to rescue the insurance company as it stood minutes from bankruptcy. The questions came in the...

  • TORONTO, Oct 8- A provincial court on Wednesday approved U.S. Steel Corp's C $185 million debtor-in-possession financing facility for the company's Canadian unit and extended its protection from creditors until late January. Steel Canada and its stakeholders to come together to develop a viable plan of arrangement for the business, "the Canadian unit's...

  • ONTARIO COURT SAYS WILL APPROVE U.S STEEL CANADA DEBTOR FINANCING FACILITY THAT IS BEING PROVIDED BY PARENT CO.