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Michigan voters search for economic savior (AP)
Sat, 31 Jul 2010 22:23:57 GMT

President Barack Obama addresses employees at the Chrysler's Jefferson North Assembly Plant in Detroit, Friday, July 30, 2010. (AP Photo/Carlos Osorio)AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass.


Glimcher offering raises $96M after costs (AP)
Fri, 30 Jul 2010 17:36:17 GMT
AP - Real estate investment trust Glimcher Realty Trust said Friday a recently completed public offering of 16.1 million common shares generated about $96 million, after commissions, discounts and expenses.
Increase in FHA Mortgage Insurance Premiums Passes in House (CQPolitics.com)
Fri, 30 Jul 2010 17:22:19 GMT
CQPolitics.com - The House passed legislation Friday to give the Federal Housing Administration flexibility to raise mortgage insurance premiums on the loans it guarantees.
Reverse Mortgages Aren't Catching On (U.S. News & World Report)
Fri, 30 Jul 2010 15:51:45 GMT
U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
Fannie Mae portfolio grows, delinquencies decline (Reuters)
Fri, 30 Jul 2010 14:22:48 GMT
Reuters - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday.
Citigroup to pay $75 million to settle SEC charges (Reuters)
Fri, 30 Jul 2010 01:46:19 GMT

Pedestrians walk past a Citibank branch in Washington in this January 19, 2010 file photo. REUTERS/Jim YoungReuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.


Citigroup paying $75M to settle civil charges (AP)
Fri, 30 Jul 2010 00:50:15 GMT

A man pictured at a branch of Citibank at the US banking giant Citigroup's world headquarters on Park Avenue, New York, in 2008. Citigroup on Friday said it made a 2.7 billion dollar profit in the second quarter of this year, down nearly 40 percent from the same period last year.(AFP/File/Emmanuel Dunand)AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.


Florida mortgage firm settles federal charges (AP)
Thu, 29 Jul 2010 22:30:00 GMT
AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
Congress to try to recoup Fannie, Freddie costs (AP)
Thu, 29 Jul 2010 22:04:26 GMT
AP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Summary Box: Mortgage rates hit low of 4.54 pct. (AP)
Thu, 29 Jul 2010 20:25:55 GMT
AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.
Mortgage rates hit low of 4.54 percent (AP)
Thu, 29 Jul 2010 20:09:31 GMT

In this photograph taken July 26, 2010, new townhouses for sale are shown in Beaverton, Ore. Mortgage rates dropped to the lowest level on record for the fifth time in six weeks, making homebuying and refinancing the most attractive in decades for those who can get loans. (AP Photo/Don Ryan)AP - Mortgage rates are the most affordable in decades for those who can qualify for a loan.


Citigroup settles charges over misleading investors (AFP)
Thu, 29 Jul 2010 19:00:15 GMT

US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said.(AFP/Getty Images/File/Spencer Platt)AFP - US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said.


(AP)
Thu, 29 Jul 2010 14:01:08 GMT
AP - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks.
Foreclosures up in 75 percent of top U.S. metro areas (Reuters)
Thu, 29 Jul 2010 11:48:42 GMT

An estate agent's board showing is pictured outside a south-east London house in April. British home prices fell for the first time in five months during July when they dropped 0.5 percent compared with June, a key survey by home-loans provider Nationwide has shown.(AFP/File/Ben Stansall)Reuters - Foreclosures rose in 3 of every four large U.S. metro areas in this year's first half, likely ruling out sustained home price gains until 2013, real estate data company RealtyTrac said on Thursday.


France Telecom first half net profit up 45 pct (AP)
Thu, 29 Jul 2010 07:53:43 GMT
AP - France Telecom SA said Thursday that first half net profit rose 45 percent due to a one-off gain, although revenue and margins were eroded by regulatory costs and competition in the home market in France.
Foreclosure activity up across most US metro areas (AP)
Thu, 29 Jul 2010 07:29:06 GMT

Demonstrators, whose homes are under foreclosure or lost their homes to foreclosure, holds signs during a foreclosure rally in front of JP Morgan Chase Bank in Oakland, Calif., Wednesday, July 28, 2010. The rally demanded banks to stop foreclosing on families. (AP Photo/Paul Sakuma)AP - Households across a majority of large U.S. cities received more foreclosure warnings in the first six months of this year than in the first half of 2009, new data shows.


Calif. revokes real estate licenses at record pace (AP)
Thu, 29 Jul 2010 01:05:04 GMT
AP - The California Department of Real Estate said Wednesday it revoked a record number of real estate licenses in its most recently completed fiscal year.
Mortgage lenders must register in database (AP)
Wed, 28 Jul 2010 21:52:52 GMT
AP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
Treasury says latest mortgage-aid report flawed (AP)
Wed, 28 Jul 2010 20:46:59 GMT
AP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.
Summary Box: Mortgage applications down percent (AP)
Wed, 28 Jul 2010 19:47:36 GMT
AP - MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association.