Banks, Mortgage | featured news

Until now, officials have signaled to the market that lending the mortgage giants money is just about as safe as lending to U.S. government itself.

Serious delinquencies among U.S. prime mortgages rose nearly 20 percent in the third quarter from the prior quarter, banking regulators said on Monday.

A growing number of homeowners are considering a "strategic default," walking away from their mortgages not out of necessity but because they believe it is in their best financial interests.

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't ...

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.

Bank of America trails other banks in refinancing mortgages ahead of government deadline.

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

Freddie Mac reported a surprising profit in the second quarter, but the profit turned to a loss for shareholders after the company paid the U.S. government a $1.1 billion dividend.

The Obama administration launched a broad government effort this week to overhaul mortgage giants Fannie Mae and Freddie Mac and is considering splitting the companies and putting their troubled assets in a new federally backed corporation, administration officials said.

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