The housing industry has waited three months to find out how Mel Watt will govern taxpayer-owned mortgage companies Fannie Mae and Freddie Mac.» Read More
WASHINGTON— National Association of Realtors releases existing home sales for March, 10 a.m.. WASHINGTON— Commerce Department releases new home sales for March, 10 a.m..
WASHINGTON— Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30- year loan fell to 4.27 percent from 4.34 percent last week.
April 16- Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has announced recently.
*Credit Suisse Q1 net profit 859 mln Sfr vs poll 1.155 bln. ZURICH, April 16- Credit Suisse's said on Wednesday first-quarter net profit fell by more than a third due to a big drop in bond trading revenues, increasing pressure on CEO Brady Dougan to make deeper cuts to its investment banking business.
April 16- Bank of America Corp posted a first-quarter loss as the No. 2 U.S. bank recorded $6 billion in litigation expenses related to a settlement with the Federal Housing Finance Agency and other mortgage-related matters.
WASHINGTON, April 14- The U.S. housing industry has waited three months to find out how Mel Watt will govern taxpayer-owned mortgage companies Fannie Mae and Freddie Mac, and has been frustrated by his silence.
WASHINGTON— Commerce Department releases retail sales data for March, 8:30 a.m. Eastern time; Commerce Department releases business inventories for February, 10 a.m..
WASHINGTON— Average U.S. rates on fixed mortgages declined this week, edging closer to historically low levels as the spring home-buying season begins. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30- year loan fell to 4.34 percent from 4.41 percent last week.
WASHINGTON, April 9- A coalition of investors in Fannie Mae and Freddie Mac on Wednesday launched an effort to stop Congress from moving ahead with a U.S. housing finance reform bill, arguing it would deny them a fair share in any remaining value in the two companies.
WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m. Eastern time. WASHINGTON— Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.. WASHINGTON— Treasury releases federal budget for March, 2 p.m..
WASHINGTON— Bank of America Corp. is paying $772 million in fines and refunds to settle regulators' accusations that it misled customers who bought extra credit-card products and illegally charged others for credit monitoring and reporting services they didn't receive.
The Federal Reserve, the Federal Deposit Insurance Corp. and the Treasury's Office of the Comptroller of the Currency voted separately to require those banks to raise their minimum ratio of capital to loans to 5 percent from the current 3 percent.
WASHINGTON, April 7- A new organization called the Coalition for Mortgage Security launched a campaign on Monday calling for winding down Fannie Mae and Freddie Mac in a way that does not harm the shareholders of the bailed-out mortgage companies.
Activist investor Bill Ackman is boosting his stake in both Fannie Mae and Freddie Mac to more than 11 percent in each.
March 27- A federal judge has recommended dismissal of a U.S. government lawsuit accusing Bank of America Corp of defrauding investors into buying about $855 million of mortgage securities that soured during the financial crisis.
*Citigroup shares slump after Fed rejects capital plan. Markets were also pressured by a steep decline in Citigroup Inc shares, which suffered their biggest daily drop since November 2012 after the Federal Reserve rejected the bank's capital plan.
*Citigroup falls in premarket, Fed rejects capital plan. NEW YORK, March 27- U.S. stock index futures indicated a flat opening on Wall Street Thursday as the latest economic data pointed to improving conditions, though investors were reluctant to make big bets amid tensions in Ukraine and a drop in Citigroup shares.
WASHINGTON, March 27- The top Democrat on the U.S. House Financial Services Committee on Thursday introduced a draft proposal to abolish Fannie Mae and Freddie Mac and create a new lender-owned cooperative that would issue government-backed loans.
*Citigroup falls in premarket, Fed rejects capital plan. *On Wednesday, the U.S. and the European Union agreed to work together to prepare possible tougher economic sanctions in response to Russia's annexation of Ukraine's Crimea territory, including on the energy sector.
WASHINGTON, March 26- Bank of America agreed to pay $9.3 billion to settle claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds, helping the bank to end one of the largest legal headaches it still faced from the financial crisis.