The DoJ and the CFTC have both held investigations into whether BofA engaged in improper trading by doing its own futures trades ahead of executing large orders for clients.» Read More
LONDON, Dec 24- U.S. and European regulators fined banks record amounts this year, imposing penalties and settlements of more than $43 billion as authorities work more closely across borders to clean up the financial sector.
The North Carolina Democrat was nominated by President Barack Obama in May and confirmed on Dec. 10 by the Senate to head the agency that oversees Fannie Mae and Freddie Mac.
FRANKFURT/ NEW YORK, Dec 20- Deutsche Bank said on Friday it will pay $1.9 billion to settle claims that it defrauded two U.S. government-controlled companies in the sale of mortgage-backed securities before the 2008 financial crisis.
WASHINGTON, Dec 19- U.S. home resales fell sharply in November to their lowest level in nearly a year, hurt by a rise in interest rates since the spring and ongoing price increases that have shut some home buyers out of the market.
Fannie Mae and Freddie Mac, the two taxpayer-owned mortgage finance companies, will increase their guarantee fees in 2014 as part of an effort to reduce their presence in the mortgage market. The Federal Housing Finance Agency announced the policy last week, and Fannie Mae and Freddie Mac laid out the specifics of how the new fees would work late on Monday.
The regulator for taxpayer-owned Fannie Mae and Freddie Mac unveiled a plan in which the two mortgage finance giants would have to gradually reduce the maximum size of U.S. home loans they can buy.
The regulator for taxpayer-owned Fannie Mae and Freddie Mac unveiled a plan in which the two mortgage finance giants would gradually reduce the maximum size of U.S. home loans they buy.
*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.
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.
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.
NEW YORK, Dec 4- U.S. The market stabilized after the Institute for Supply Management's gauge on U.S. services industries fell more than expected in November, suggesting slower growth in that sector and reviving some bids for government bonds.
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.
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.
NEW YORK, Nov 20- Deepak Narula, one of the hedge fund industry's best known mortgage bond traders, said he sees a much tougher year ahead for investors but sees opportunities in certain mortgage trades.
*JPMorgan says did not admit to violating any laws. NEW YORK/ WASHINGTON, Nov 19- In late September, JPMorgan Chief Executive Jamie Dimon walked into the office of U.S.