The first two of nine potential funds to invest in toxic assets with government support have been closed after raising just over $1 billion in equity from private sources, the Treasury Department said.

Kenneth Lewis, the CEO and president of one of the nation's leading banks, announced Wednesday that he will retire at the end of the year, after 40 years of service.

The FDIC's insurance fund, which protects consumers's deposits, is heading for broke and according to the federal agency, it will stay that way until 2012.

Although interest rates dipped last week ̢ below 5 percent for long-term mortgages ̢ demand for home loans declined, even with the expiration date for the first-time homebuyer tax credit quickly approaching.

Mortgage Specialist International L.L.C. (MSI), in Dallas, Texas, has named Barry Baker its executive vice president.

Refinance volumes fell from July to August in response to a sharp rise in mortgage rates in June, the Federal Housing Finance Agency (FHFA) said in its monthly[IMAGE] report.

Lenders efforts to help homeowners stave off foreclosure are intensifying, according to a new report released Wednesday by the Office of the Comptroller of the Currency (OCC).

Gains in the prices of some formerly toxic assets may prompt banks to book some profit on positions they have already written down, but boards and auditors are likely to advise them to be cautious.

NewOak Capital, an investment advisory and asset management firm in Manhattan, announced Wednesday that it has named Amy Levenson managing director and chairman of the company's newly formed commercial real estate loans and properties capital markets group.

Nations REO, Inc., a division of Foreclosure Management Company (FMC) based in Overland Park, Kansas, announced Wednesday that it has deployed DepotPoint, Inc's TrackPoint platform to power the company's REO workflow and property management operations.