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Mortgages

A collection of news and information related to Mortgages published by this site and its partners.

Top Mortgages Articles

Displaying items 23-33
  • Legal costs sapped 2nd-quarter profit at Bank of America

    CHARLOTTE, N.C. Bank of America returned to profit in the second quarter, but earnings were down 43 percent from a year ago as legal costs continued to be a drag on earnings. Legal expenses, which have dogged the Charlotte bank since the financial...
  • Litigation costs hit Bank of America's quarterly profit

    Litigation costs hit Bank of America's quarterly profit
    (Reuters) - Bank of America Corp said second-quarter profit fell 43 percent, a bigger decline than analysts had expected, after the bank posted $4 billion of litigation expenses linked to mortgage disputes following the financial crisis. The expenses...
  • Bank of America earnings tumble 43% on mortgage litigation costs

    Bank of America Corp.'s second-quarter earnings plunged 43% as the nation's second-largest bank recorded 4 billion additional reasons to regret its 2008 purchase of high-risk home lender Countrywide Financial Corp. in Calabasas. Bank of America said...
  • Fannie, Freddie making risky deals with small lenders: watchdog

    WASHINGTON (Reuters) - U.S. housing finance companies Fannie Mae and Freddie Mac are making riskier deals as they increasingly purchase mortgages from smaller lenders, a federal watchdog said on Thursday. The government-owned companies do not lend money...
  • What should be in your 'death' file

    NEW YORK (Reuters) - After helping a girlfriend through the messy, tangled finances left in the wake of a parent's death, John Kerecz had a message for his own mom and dad: Get your paperwork in order. A few years later, Kerecz's father passed away...
  • JPMorgan profit declines 8 percent as fixed-income trading slides

    JPMorgan profit declines 8 percent as fixed-income trading slides
    (Reuters) - JPMorgan Chase & Co JPM.N, the biggest U.S. bank by assets, said on Tuesday that second-quarter profit fell 8 percent after customer stock and bond trading volume dropped and mortgage lending fees plunged. The results were not as bad as...
  • JPMorgan pulls back from mortgage lending on foreclosure worries

    NEW YORK (Reuters) - JPMorgan Chase & Co, the second-largest U.S. mortgage lender, is backing away from making home loans to less creditworthy borrowers after losing faith in its ability to recover much money from foreclosing on homes, even with...
  • Banking stocks rise as Citi, JPMorgan, Goldman beat earnings estimates

    Banking stocks rise as Citi, JPMorgan, Goldman beat earnings estimates
    Banks are paying enormous amounts to settle cases stemming from bad mortgages, but investors in Wall Street's heavy hitters are looking at different numbers — and they like what they see. An index of bank stocks climbed 1.3% on Tuesday after...
  • BofA pays AIG $650 million to settle mortgage disputes

    NEW YORK (Reuters) - Bank of America agreed to pay American International Group Inc $650 million to settle long-running legal disputes over defective mortgage-backed securities sold in the run-up to the financial crisis. The deal, which the parties...
  • Marsh to ABC, Algie Howell to parole board

    Now we know why state Sen. Henry Marsh and Del. Algie Howell resigned early from the General Assembly. Gov. Terry McAuliffe tapped them both today for jobs in his administration. McAuliffe named Marsh one of three commissioners to the state's...
  • Citi to pay $7 billion to settle mortgage securities probe

    Citi to pay $7 billion to settle mortgage securities probe
    Citigroup Inc has agreed to pay $7 billion to settle a U.S. investigation into shoddy mortgage-backed securities the bank sold in the run-up to the financial crisis, including the largest civil fraud penalty ever levied by the U.S. Justice Department....