Fannie Mae sued nine banks accusing them of colluding to manipulate interest rates and seeking more than $800 million of damages.» Read More
WASHINGTON _ Labor Department releases revised third-quarter productivity data, 8:30 a.m.; Federal Reserve releases industrial production for November, 9:15 a.m..
WASHINGTON, Dec 11- The top Republican on the U.S. Senate's tax-writing panel on Wednesday endorsed President Barack Obama's nominee to be the next chief of the Internal Revenue Service, smoothing the path for what will likely be a prompt Senate confirmation.
WASHINGTON _ Labor Department releases weekly jobless claims, 8:30 a.m. Eastern. WASHINGTON _ Commerce Department releases retail sales data for November, 8:30 a.m.. WASHINGTON _ Commerce Department releases business inventories for October, 10 a.m..
*Watt will replace FHFA Acting Director Edward DeMarco. WASHINGTON, Dec 10- The U.S. Senate on Tuesday confirmed Representative Mel Watt to lead the agency that regulates taxpayer-owned mortgage financiers Fannie Mae and Freddie Mac, providing greater leeway for the Obama administration's mortgage aid initiatives.
WASHINGTON, Dec 10- The U.S. Senate on Tuesday confirmed Representative Mel Watt to lead the agency that regulates taxpayer-owned mortgage financiers Fannie Mae and Freddie Mac, providing greater leeway for the Obama's administration's mortgage aid initiatives. The Senate voted 57-41 to confirm Watt as the regulator of the Federal Housing Finance Agency.
*Tax-exemption scandal, Obamacare top IRS agenda. WASHINGTON, Dec 9- President Barack Obama's choice for U.S. tax commissioner, a multimillionaire with a reputation for troubleshooting, appears headed for confirmation, but on Tuesday will first face some tough questioning in Congress.
Dec 6- A federal judge has granted final approval to Bank of America Corp's record $500 million settlement with investors who claimed they were misled by the bank's Countrywide unit into buying risky mortgage debt. Countrywide had been the largest U.S. mortgage lender before Bank of America bought it in July 2008.
PITTSBURGH-- PNC Financial Services Group said Friday it is settling a dispute with Federal Home Loan Mortgage Corp., or Freddie Mac, for $89 million.
Dec 6- PNC Financial Services Group Inc will pay Freddie Mac $89 million to resolve all repurchase liabilities on home loans sold to the government-backed housing agency through the end of 2008.. Earlier this week, Bank of America said it settled with Freddie Mac on all claims arising from residential mortgages sold to the agency through the end of 2009..
NEW YORK, Dec 5- A U.S. judge is considering an alternative that could result in Bank of America Corp paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis.
WASHINGTON _ Commerce Department releases wholesale trade inventories for October, 10 a.m. Eastern; Labor Department releases job openings and labor turnover survey for October, 10 a.m..
Dec 2- Bank of America said it settled all claims with Freddie Mac arising from residential mortgages sold to the government-backed housing agency through the end of 2009..
WASHINGTON _ Institute for Supply Management releases its manufacturing index for November, 10 a.m.; Commerce Department releases construction spending for September and October, 10 a.m..
WASHINGTON _ Institute for Supply Management releases its manufacturing index for November, 10 a.m.; Commerce Department releases construction spending for September and October, 10 a.m.. WASHINGTON _ House Education and the Workforce subcommittee hearing on financial aid for college.
WASHINGTON, Nov 26- The maximum size of U.S. home loans that taxpayer-owned Fannie Mae and Freddie Mac can buy will hold steady next year, their regulator said on Tuesday, deferring a decision on when to pull back government support for the housing market.
WASHINGTON, Nov 26- Permits for future U.S. home construction hit a near 5-1/ 2 year-high in October and prices for single-family homes notched big gains in September, suggesting a run-up in mortgage interest rates has not derailed the housing recovery.
NEW YORK, Nov 22- The U.S. government on Friday sought permission to add a Wells Fargo& Co executive, Kurt Lofrano, as a defendant in its year-old lawsuit accusing the bank of fraud.
Nov 22- Herbalife Ltd shares rallied as much as 7 percent on Friday as investors rejected the latest salvo from hedge fund manager Bill Ackman, who insisted the company is nothing but a pyramid scheme, even though his short position based on that view has cost up to $500 million.
NEW YORK, Nov 21- Bank of America Corp urged a U.S. federal judge to impose no penalty even after a jury found it liable for fraud over the sale of defective mortgages by its Countrywide Financial unit.
Nov 20- The United States rejected Fairholme Capital Management's recapitalization proposal of Fannie Mae and Freddie Mac, saying the only way to revamp the home loan market is through proper housing finance reform, according to Gene Sperling, a senior adviser to the president.