Housing Market, Banks | featured news

The plight of homeowners unable to refinance despite massive aid to banks is a volatile political issue.

As markets boom, Fed officials and central bank researchers are looking for ways to keep housing and credit bubbles from happening in the first place.

Frustrated by the banks' inability or unwillingness to stop an avalanche of foreclosures, the states are considering lawsuits over the creation and marketing of millions of bad loans as well as the dismal pace of mortgage modifications.

Such cases would have been impossible until recently, because federal regulators had exclusive oversight of national banks. But a 5-to-4 Supreme Court decision in June allowed the states to exercise their own supervision, giving them significant leverage.

Rates can fall to 2%--if you know how to play the game.

Fannie Mae plans to tap $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing.

John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk.

A deal maker at Lehman pioneered ways to package debt which brought huge profits but set off the bank’s collapse.

Freddie Mac, facing mounting damage from the U.S. housing crisis, said Wednesday it will ask the government for nearly $31 billion in additional aid after posting a gargantuan loss of more than $50 billion last year.

JPMorgan Chase & Co. and Citigroup Inc. are halting home foreclosures while the Obama administration develops its plans to help the U.S. housing market.

Banks can't unload their toxic assets. But what if their assets weren't toxic?