Fitch Ratings: Pre-2005 Prime U.S. RMBS Showing Cracks
One of the strongest U.S. residential mortgage vintages is now increasingly susceptible to rating downgrades with adverse selection being the main culprit, according...
ABA Creates Political Advocacy Group
The American Bankers Association (ABA) has announced the creation of Financial Education and Advocacy Initiative Inc., which the trade group dubs as a...
DataQuick Acquires Rels Title
San Diego-based DataQuick has signed a purchase agreement to acquire the ATI Title Companies, which does business as Rels Title. Rels Title provides...
Stonegate Mortgage Acquires NattyMac
Indianapolis-based Stonegate Mortgage has acquired NattyMac, a St. Petersburg, Fla.-based warehouse lender, from Guggenheim Partners. The financial terms of the deal were not...
WaMu Subsidiaries Settle Lawsuit For $26M
Two former subsidiaries of Washington Mutual Bank (WaMu) have agreed to a $26 million settlement that ends a lawsuit brought by investors. Reuters...
NAR: Median Time For Home Sale Listings Is Falling
The median time a home was listed for sale on the market was 69 days in July, down 29.6% from 98 days in...
Wells Fargo Employee Fired For 1963 Misdemeanor Files Civil Rights Complaints
A 68-year-old Wells Fargo call center worker who was fired after the company discovered that he was arrested and convicted in 1963 for...
Romney Offers Glimpse Of Housing Policy
After months of providing relatively little detail on his plans to address the housing crisis, Republican presidential candidate Mitt Romney has offered the...
Angelides: DOJ Wall Street Probe Should Focus On ‘Criminal Wrongdoing’
The chairman of President Obama's Financial Crisis Inquiry Commission has called on the U.S. Department of Justice (DOJ) to ratchet up its efforts...
Construction Spending Down Slightly In July
Construction spending during July was estimated at a seasonally adjusted annual rate of $834.4 billion, which is 0.9% below the revised June estimate...
Survey: One-Fourth Of Americans Consider Themselves Poor
One in four Americans believe they are poor, according to a new survey by the Chicago-based online lender CashNetUSA.com. Conversely, 69% of those...
MBA: Mortgage Applications Down Last Week
Mortgage applications decreased 2.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) weekly mortgage applications survey for the...
Bank Of Commerce Holdings Sells Majority Stake In Mortgage Unit
Redding, Calif.-based Bank of Commerce Holdings has announced the sale of 51% ownership position in Bank of Commerce Mortgage to Scott Simonich and...
CoreLogic: Home Prices Up In July
Home prices nationwide, including distressed sales, increased on a year-over-year basis by 3.8% in July compared to July 2011, according to the latest...
Walter Investment Management Buys Reverse Mortgage Solutions For $120M
Tampa, Fla.-based Walter Investment Management Corp. has entered into a definitive agreement to purchase Spring, Texas-based Reverse Mortgage Solutions Inc. (RMS) in a...
FHLBank Dallas Awards $225K In Partnership Grants
The Federal Home Loan Bank of Dallas (FHLBank Dallas) has awarded $225,000 through its Partnership Grant Program (PGP) to assist 22 community-based organizations...
French Government Commits $6.3B For Lender Bailout
The French government has agreed to a $6.3 billion bailout of Caisse Centrale du Credit Immobilier de France (CCCIF), a financial institution specializing...
FHFA Hikes Up G-Fees
The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to raise guarantee fees (G-fees) on single-family mortgages by an...
Freddie Mac: Mortgage Rates Down This Week
Mortgage rates declined for the week ending Aug. 30, according to new data released by Freddie Mac. The 30-year fixed-rate mortgage (FRM) averaged...
NCUF Seeks Nominees For Board
The National Credit Union Foundation (NCUF) is seeking nominees to fill three volunteer positions on its board of directors. Two NCUF board seats...