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Mortgages

George Osborne

UK

George Osborne denies that Help to Buy scheme risks new housing bubble

Brian Moynihan Davos 2013 Still

VideoFinancial Markets

BofA Clean-up Like Climbing Mountain With A 250lb Backpack

Bank of America CEO Brian Moynihan told Bloomberg Television's Erik Schatzker at the World Economic Forum in Davos that cleaning up the mortgage mess from Countrywide is like mountain climbing with an excessively heavy backpack.

Brian Moynihan

Financial Markets

BofA Escaping Countrywide Helps CEO Moynihan Build

Bank of America Tuesday struck deals to settle lending complaints, sell rights to service $300bn of mortgages and repair relations with regulators. For CEO Brian Moynihan, it offers his best chance to rebuild the home lending business.

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Yard Sale Sign

Financial Markets

Blame Fannie and Freddie for Mortgage Crisis: Kovacevich

Fannie Mae and Freddie Mac exacerbated the mortgage crisis and that's why the government should get out of the home loan business, former Wells Fargo CEO Richard Kovacevich told CNBC.

Terminator

Financial Markets

Banks Pay Big for Robo-Signing...Again

Ten banks will now pay $8.5 billion to borrowers for so-called "robo-signing," a fraudulent practice uncovered two years ago that sent the mortgage market into yet another tail-spin.

Pile Of Coins

Financial Markets

U.S. Mortgage Firms Said to Near $10bn Settlement

U.S. regulators led by the Office of the Comptroller of the Currency will replace a largely fruitless effort to find victims of botched foreclosures at the 14 biggest mortgage servicers with flat penalties, five people briefed on the talks said.

Blowing Whistle

Financial Markets

BofA $1bn Whistleblower May Face Interest Claim

The whistle-blower helping the U.S. government mount a $1bn fraud lawsuit against Bank of America was himself accused of fraud by an investor in a financing company he co-founded, and now works at Fannie Mae, one of two entities he claims the bank defrauded.

Chipped Monopoly House

Financial Markets

Manhattan U.S. Attorney Files Mortgage Fraud Lawsuit Against Wells Fargo

Preet Bharara, the United States Attorney for the Southern District of New York has announced that the United States has filed a civil mortgage fraud lawsuit against Wells Fargo.

Charlie Gasparino Still

Video

Gasparino: Banks Bracing for Settlement with SEC

FBN's Charlie Gasparino says major banks could pay hundreds of millions to settle with the SEC over mortgages.

Big Coq

Financial Markets

Firms Face Billions More in Damage Claims As Chickens Finally Come Home To Roost

Just when you thought it was safe to go back in the water....

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