The housing market won’t trend up significantly until it hits bottom, the chairman of the Mortgage Bankers Association, Michael Berman told CNBC Monday, and two changes need to take place before that happens.
The foreclosure process in the US is slowing, enabling delinquent borrowers to stay in their homes for months after they stop making mortgage payments, according to one of the largest lenders. The FT reports.
Mark Mallen was already a highly successful, ice-cream entrepreneur In Denver when he started making the product for the state's fast-growing medical marijuana market.
Ever since the so-called “flash crash” on May 6, policymakers have fretted about the state of equity markets. So have investors. The FT reports.
The Office of the Comptroller of the Currency and the Department of Treasury Inspector General are investigating whether or not certain national bank executives lied to or misled bank examiners, CNBC has learned.
Both the New York Federal Reserve and Bank of America have been trying to calm jittery markets today by explaining that the Fed isn’t taking a regulatory action against Bank of America.
Internal company documents show that at least twice, the Remington Arms Company considered a nationwide recall of its popular 700 series rifles, but decided against it despite thousands of complaints and dozens of lawsuits over inadvertent discharges.
Texas Attorney General Greg Abbott, who has called for a halt on foreclosures, told CNBC Tuesday, that sorting through the underlying problems caused by some wrongful foreclosures could take months to unwind and require lots of legal work.
The balance of power in both houses of Congress are at stake in November's midterm elections. As we countdown to November 2nd, we want to know what issue matters most to the investing public.
The fact that Mr. Geithner takes time from his busy schedule to defend a program that has expired, speaks volumes about the damage TARP is inflicting on politicians associated with it.
JPMorgan Chase has a proposition for the mutual funds and pension funds that oversee many Americans’ savings: Heads, we win together. Tails, you lose — alone. The New York Times reports.
The public panned it. Republicans obstructed it. Many Democrats fled from it. Even so, the session of Congress now drawing to a close was the most productive in nearly half a century.
California gubernatorial candidate Meg Whitman told CNBC Friday that the “way forward,” out of the state's bloated government, deficit and high taxes, was to look at what New Jersey Gov. Chris Christie has done since taking office.
As if the problems in foreclosures weren't enough, another potential problem for the nation's big banks is raising its head today and is the key reason that shares of banks such as Bank of America are down sharply and credit default swap for some banks are widening.
A halt to foreclosures could be a boost to home prices in the near term, Carl Riccadonna, US senior economist at Deutsche Bank, told CNBC Thursday.
These could well be the final days for Rep. Paul Kanjorski’s long journey from the coal banks of northeastern Pennsylvania to the halls of power in Washington.
A government watchdog is investigating government-owned GMAC Mortgage after a company employee admitted to approving thousands of foreclosures without reading the paperwork.
The four largest health insurance companies in the US denied coverage to more than half a million individuals because of their pre-existing conditions from 2007 to 2009, according to a congressional investigation.
Up to 40 state attorneys general are preparing to launch a joint investigation into the mortgage industry over the foreclosure-document mess.
Deep water oil drills quieted by a six-month moratorium will again hum off the Gulf Coast, helping an industry that, despite its dangers, puts needed money in the pockets of thousands along the Gulf Coast.