ZipRealty Announces Pact With New American Mortgage
Emeryville, Calif.-based ZipRealty has formed a strategic alliance with New American Mortgage, a mortgage bank based in Charlotte, N.C. As part of this...
Hong Kong Leader Seeks To End ‘Acute’ Housing Problem
Hong Kong's newly elected leader acknowledged the 'acute' problems facing the local housing market and promised to create 65,000 residential housing units in...
Foreclosure Homes Accounted For 23% Of All Q2 Sales
Homes that were either bank owned or in some stage of foreclosure accounted for 23% of all U.S. residential sales during the second...
Citigroup Pays $590M To Settle Shareholder Lawsuit
Citigroup Inc. will pay $590 million to settle a four-year-old, 547-page lawsuit brought by shareholders that accused the lender of intentionally hiding billions...
MBA: Q2 Independent Mortgage Banker Profits Increase
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $2,152 on each loan they originated in the second...
Native American Credit Union Receives Charter Approval
For the second time this week, the National Credit Union Administration's (NCUA) Office of Consumer Protection has approved the charter of a de...
NAR: Pending Home Sales Up In July
Pending home sales rose in July to the highest level in over two years and remain well above year-ago levels, according to the...
Mortgage Applications Down Last Week
Mortgage applications and refinance activities declined last week, according to new data from the Mortgage Bankers Association (MBA) for the week ending Aug....
GFI Mortgage Bankers Pays $3.5M To Settle Discrimination Lawsuit
New York-based GFI Mortgage Bankers Inc. has agreed to pay $3.5 million to settle a lending discrimination lawsuit filed by the U.S. Department...
SEC Discloses Ongoing Probe Of ResCap
Ally Financial's mortgage unit, Residential Capital (ResCap), is being investigated by the U.S. Securities and Exchange Commission (SEC) for potential misconduct in its...
M&T Acquires Hudson City For $3.7B; Law Firm Questions Transaction
Paramus, N.J.-based Hudson City Bancorp Inc. has been acquired by Buffalo, N.Y.-based M&T Bank Corp. in a $3.7 billion transaction. However, a Los...
BB&T To Shut 21 Branches, Lay Off 365
Winston-Salem, N.C.-based BB&T Corp. is planning to close 21 branches and lay off 365 employees as an after-effect of its acquisition of Fort...
Regulators To Delay Stress Test Implementation
The Federal Reserve, the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. are considering changes to the implementation timeline...
Citigroup Settles MBS Lawsuit For $25M
Citigroup Inc. will pay nearly $25 million to settle a four-year-old lawsuit by investors that charged the lender with offering misleading information on...
S&P/Case-Shiller: Home Prices Up In Q2
Home prices rose during the second quarter of this year, according to the latest data from the S&P/Case-Shiller Home Price Indices. All three...
Coming Soon: This Year’s First New Federal Credit Union
It took eight months, but this year has finally seen its first new federal credit union (FCU) charter. The Office of Consumer Protection...
576 Economists Pledge Support For Romney Economic Plan
A Washington, D.C.-based organization called Economists for Romney (E4R) announced today that 576 economists have now signed its statement in support of the...
Romney Campaign Contradicts Itself On Bernanke
Mitt Romney's presidential campaign offered a display of mixed messages regarding the future of the Federal Reserve, with the presumptive Republican candidate's top...
New York Fed Completes Maiden Lane III Asset Sales
The Federal Reserve Bank of New York (New York Fed) has sold the remaining securities in the Maiden Lane III LLC portfolio. According...
FHFA: House Prices Up 1.8% In Q2
U.S. house prices rose 1.8% from the first quarter to the second quarter of this year, according to the Federal Housing Finance Agency's...