NEW YORK— Bank of America Corp. was not liable for fraud and subject to a penalty of more than $1.2 billion for its actions before the economy collapsed in 2008 despite a jury's finding to the contrary, a federal appeals court ruled Monday. The 2nd U.S. Circuit Court of Appeals in Manhattan said there was insufficient evidence for a jury to conclude at a 2013 trial...
WASHINGTON, Dec 16- James Schnurr, just two months into his job as chief accountant at the U.S. Securities and Exchange Commission, stood before a packed ballroom in Washington last December and upbraided a little-known regulator. PCAOB Chairman James Doty was among those attending the annual accounting-industry gala where Schnurr spoke.
WASHINGTON, Dec 15- Mortgage finance companies Fannie Mae and Freddie Mac must by law do more in underserved markets, their federal conservator said on Tuesday, unveiling a proposal that would have them help finance manufactured homes, support affordable housing and strengthen lending in rural areas. Federal statute requires Fannie Mae and Freddie Mac to...
Dec 15- Germany's largest lender Deutsche Bank AG named Pascal Boillat as chief information officer and head of operations, corporate& investment banking team. Boillat, who will join Germany's flagship lender from Feb. 1, will report to Kim Hammonds. Boillat will join from Fannie Mae in Washington, where is the head of operations and technology for the U.S....
*Volatility expected when funds dive into repo market. NEW YORK, Dec 11- After more than two years of daily testing and regular meetings with Wall Street traders and investors, the Federal Reserve's market specialists are still not sure how smoothly they will be able to lift interest rates after seven years at zero. Now, after years of monetary stimulus and zero...
NEW YORK, Dec 2- Quicken Loans, the third biggest mortgage lender in the U.S., is considering backing away from a government program that provided critical support to the housing market during the financial crisis, the latest in an exodus of big lenders from the program. The departure of the biggest lenders from the U.S. Federal Housing Administration program,...
Recent moves by the White House suggest that the US may be nearing a settlement with Fannie Mae and Freddie Mac shareholders, says Dick Bove.
The buzz about another possible bailout of Fannie Mae and Freddie Mac doesn't make any sense, says Dick Bove. Here's why.
This is a "Goldilocks economy" for commercial real estate — not too cold, not too hot, but just right, says Colliers economist Andrew J. Nelson.
There's a new mortgage crisis brewing — only this one is completely different than the one in 2008, says bank analyst Dick Bove.
A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.
Getting a mortgage in the U.S. may be easier than many borrowers think, according to a survey released Monday by Wells Fargo.
Goldman said it would repurchase the securities sold to Fannie Mae and Freddie Mac over the 2005-2007 period.
In the complaint, Pershing Square alleged that Treasury illegally seized tens of billions of dollars in Fannie and Freddie profits.
The FHFA filed 18 lawsuits against Goldman and other banks in 2011 over about $200 billion in mortgage-backed securities that later went sour.
Some of Friday's midday movers:
In some ways, David Brat is Larry Kudlow's kinda guy. But, not in all ways. Here's Larry's take on the guy who upset Eric Cantor in the GOP primary.
There is something seriously wrong with bank regulation and litigation in the US today, says bank analyst Dick Bove.
Take a look at some of Tuesday's midday movers:
The Massachusetts attorney general has sued Fannie Mae and Freddie Mac over alleged refusal to engage in foreclosure buyback programs.