BOSTON— A Lawrence financial and legal services firm and its owner accused of preying on vulnerable customers during the foreclosure crisis have been ordered by a judge to pay Massachusetts more than $1.9 million. Attorney General Maura Healey announced the judgment Thursday against Pinnacle Financial Consulting LLC and owner Robert Burton.» Read More
The average rate on the 30-year fixed mortgage rose sharply this week after falling below 4 percent for the first time in history.
Bank seizures of US homes fell in the third quarter but an upswing in default notices suggests foreclosures could start to rise again, a report by RealtyTrac said on Thursday.
From falling home values and impaired labor mobility, to backed-up inventories and a flood of foreclosures, there are countless ways that real estate affects the economy at large.
Coldwell Banker surveyed its 12,000 agents to get their view on how the baby boomer generation is looking at the real estate situation. Jim Gillespie, Coldwell Banker CEO analyzes how the results play into the housing market.
The federal government will disburse just $432 million from a $1 billion program to help unemployed homeowners avoid foreclosure, a government official said Thursday. USA Today reports.
The Securities and Exchange Commission is investigating Royal Bank of Scotland, Credit Suisse and other financial institutions for their handling of problem mortgage loans, according to public disclosures and people familiar with the matter. The FT reports.
I can't get off the phone with anyone I know without first having to hear about their particular mortgage story; Okay, maybe that's an exaggeration, but not that far off.
It was just hitting 105 degrees in Dallas when Phillip Carter herded a group of Australian investors onto a bus and headed out to see some previously foreclosed properties. Cowboy to cowboy, Carter tells them the Dallas market is ripe for profit, as rental demand surges and rents head higher. The difference in his business model is that the cash is ready to flow, immediately.
Given that the conservator of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency (FHFA) has been wielding incredible power of late in deciding how much the two mortgage giants can and cannot charge in guarantee fees and whom they can and cannot refinance, it was particularly disturbing to learn the that same FHFA has been deemed, dare I say it, incompetent, at least in one of its oversight capacities.
Fannie Mae missed chances to catch law firms illegally signing foreclosure documents and its government overseer did not take the right steps to ensure Fannie was doing its job, according to a federal watchdog.
Many athletes who lost their earning power couldn’t keep up with their mortgage payments and were faced with foreclosure. Click to see the list of athletes with foreclosed homes.
CNBC's Diana Olick reports on the messy housing market and says mortgage default filings surge as banks accelerate the foreclosure process.
New foreclosure starts rose sharply in August, signaling a slew of foreclosed properties will be dumped on the already bloated housing market in early 2012.
CNBC's Diana Olick has the details of Fannie Mae's resale strategy to steady home prices around foreclosures, as well as minimizing losses on them.
CNBC's Carl Quintanilla moderates a panel on real estate. Many real estate investors got torched during the financial crisis. Is now the time to come back to real estate, with Bill Ackman, Pershing Square Capital Management LP founder and CEO; Barry Sternlicht, Starwood Capital Group chairman & CEO; and Sam Zell, Equity Group Investments chairman.
CNBC's Diana Olick has the story on the growing number of borrowers falling behind on their mortgages for the first time.
Bank of America is ramping up its foreclosure processing, sending out far more notices of default to borrowers in August than in previous months, well over 200 percent more month-to-month.
Even on Billionaire's Beach in Malibu, you can't escape the economy.
Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that is proposed to limit part of their legal liability in return for a multibillion dollar payment. The FT reports.
An outlook on homebuilders, with Robert Wetenhall, RBC Capital Markets analyst.