WASHINGTON— Labor Department releases employment data for July, 8:30 a.m.; Commerce Department releases personal income and spending for June, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m..
WASHINGTON— Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30- year loan was 4.13 percent, unchanged from last week.
WASHINGTON— Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy. New home sales fell 8.1 percent last month to a seasonally adjusted annual rate of 406,000, the Commerce Department said Thursday.
WASHINGTON— The Commerce Department reports on sales of new homes in June. The report will be released at 10 a.m. Eastern on Thursday. The National Association of Realtors reported that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04 million homes.
NEW YORK, July 23- A federal judge on Wednesday said banks faced an uphill battle in convincing her to dismiss a U.S. regulator's claims that they misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour.
WASHINGTON— The National Association of Realtors reports on existing home sales in June. Mortgage rates have come down this year, with 30- year mortgages standing at 4.12 percent last week, according to the Freddie Mac survey.
WASHINGTON— Labor Department releases Consumer Price Index for June, 8:30 a.m.; National Association of Realtors releases existing home sales for June, 10 a.m.. GENEVA— Credit Suisse, the second-largest bank in Switzerland behind UBS, reports its second quarter results before the opening of trading in Zurich.
Mortgage company Freddie Mac reported Thursday that the nationwide average for a 30- year loan dipped to 4.13 percent, down from 4.15 percent last week. Fed Chair Janet Yellen told Congress this week that the purchases will likely end altogether at the end of October.
WASHINGTON, July 17- U.S. housing finance companies Fannie Mae and Freddie Mac are making riskier deals as they increasingly purchase mortgages from smaller lenders, a federal watchdog said on Thursday.
WASHINGTON— Commerce Department releases housing starts for June, 8:30 a.m.. WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m.. WASHINGTON— Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m..
**September 2012: Agrees to pay $2.43 billion to settle claims it hid crucial information from shareholders when it bought investment bank Merrill Lynch& Co at the height of the financial crisis.
NEW YORK— Bank of America said Wednesday that its second-quarter earnings were hit by higher litigation expenses. Bank of America also said that it had reached a $650 million settlement Tuesday with American International Group Inc. to resolve all outstanding residential mortgage-backed securities litigation between the two companies.
NEW YORK, July 15- JPMorgan Chase& Co, the second-largest U.S. mortgage lender, is backing away from making home loans to less creditworthy borrowers after losing faith in its ability to recover much money from foreclosing on homes, even with government guarantees.
WASHINGTON, July 14- Citigroup Inc has agreed to pay $7 billion to resolve claims it misled investors about shoddy mortgage-backed securities in the run-up to the financial crisis, in a deal that includes the largest civil fraud penalty ever levied by the U.S. Justice Department.
July 14- Citigroup Inc has agreed to pay $7 billion to settle a U.S. investigation into shoddy mortgage-backed securities the bank sold in the run-up to the financial crisis, including the largest civil fraud penalty ever levied by the U.S. Justice Department.
Bank of America has discussed paying about $12 billion to settle the probes, including a portion to help struggling homeowners, while the Justice Department had suggested a $17 billion settlement, sources said.
WASHINGTON, July 9- The U.S. Senate on Wednesday confirmed Julian Castro to lead the Department of Housing and Urban Development, placing the San Antonio, Texas mayor at the top of the agency in charge of housing during a sluggish recovery in the sector.
July 3- SunTrust Banks Inc, a large U.S. southeast regional bank, will pay as much as $320 million to resolve a criminal probe into its mortgage unit's mismanagement of a federal program designed to help struggling homeowners avoid foreclosure during the recession.
NEW YORK, July 1- HSBC Holdings Plc agreed to pay $10 million to settle U.S. government charges that it defrauded taxpayers by submitting inflated bills to process residential foreclosures.
NEW YORK, July 1- HSBC Holdings Plc has agreed to pay $10 million to settle U.S. civil fraud claims over foreclosure-related charges it submitted to the government, federal prosecutors said on Tuesday.