The Consumer Financial Protection Bureau proposed a new rule to allow consumers that post complaints to the option to opine on the details on the bureau’s public facing complaint database.
Read More »Fannie and Freddie Take on Riskier Portfolios
According to a report issued Thursday by the Federal Housing Finance Agency Office of the Inspector General, Fannie and Freddie are increasingly making riskier deals by buying more mortgages from smaller and non-bank lenders.
Read More »Foreclosure Activity Falls below Pre-Crisis Levels
In an important signpost of recovery, foreclosure activity in the United States has fallen to levels not seen since before the financial crisis began, according to a report issued by RealtyTrac Thursday.
Read More »Delaware Banker Charged with TARP Bank Fraud
Peter Hayes, a former lender at TARP recipient Wilmington Trust of Delaware, was charged in a seven count indictment in connection with an alleged bank fraud scheme in which he and others benefited at the expense of the bank.
Read More »Legal Expenses Plague Bank of America Earnings
Bank of America reported Wednesday a nearly 43 percent decline in second-quarter profits compared to last year thanks to a significant litigation charge. BofA posted second-quarter net income of $2.3 billion on revenue of $22.0 billion. A year ago, the megabank reported bringing $4.0 billion
Read More »Fed Doesn’t Support House Oversight Bill
The Chair of the Federal Reserve Board Janet Yellen deliver her semi-annual Monetary Policy Report and completed her second day of testimony Wednesday, this time testifying before the House Committee on Financial Services.
Read More »S&P May be Reopening Settlement Talks with DOJ
A year-and-a-half-long legal case between the U.S. Department of Justice and Standard & Poor’s Rating Services could be over soon. According to the Wall Street Journal, S&P is preparing to resume talks with the DOJ in an effort to settle a $5 billion lawsuit filed by the government in February 2013.
Read More »JPMorgan Wary of FHA Business
In a conference call with analysts following the release of its second quarter earnings report Tuesday, JPMorgan CEO Jamie Dimon took the time to single out Federal Housing Administration (FHA) backed lending as a source of risk for the Megabank.
Read More »Home Prices Expected to Fall in Some Markets
With ongoing home price gains continuing to trend downward, one in five markets are poised for depreciation over the next year, according to one analytics firm.
Read More »Default Falls to Historically Low Levels in Large Metros
A report released Tuesday by S&P Dow Jones Indices and Experian showed a decline in default rates among five of the largest cities in the nation to historically low levels.
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