Construction in the single-family housing market for the month of October as both housing starts and housing completions decreased, the U.S. Census Bureau and HUD announced Wednesday.
Read More »DOJ May Target RBS, JPMorgan Executives for Criminal Roles in Financial Crisis
The U.S. may be following through on promise made a few months ago to target individual executives from the Royal Bank of Scotland and JPMorgan Chase for their alleged criminal role in financial crisis. In September, the Department of Justice issued a memo to all U.S. state attorneys general stating that it will pursue the prosecution of individuals whose actions brought on the Great Recession of seven years ago. The DOJ is reportedly standing by their word and pursuing criminal cases against executives at these two banking institutions for allegedly selling flawed mortgage securities after being warned by associates of their wrongdoings.
Read More »Home Builder Confidence Stumbles in November
Home builder sentiment fell three points in November to levels more consistent with the second half of 2015 after an upward rise in October to the highest level since 2005.
Read More »Mortgage Debt Still Weighing Heavy on Consumers
Many Americans are still struggling with mortgage debt, which is the third most-popular form of debt in the nation. Much of this debt stems from borrowing at the wrong time and for the wrong purpose, preventing consumers from achieving financial stability.
Read More »Fannie Mae & Freddie Mac CEOs Salaries Capped at $600,000
Fannie Mae and Freddie Mac CEOs will not be receiving the multi-million dollar pay raises proposed by their conservator, the Federal Housing Finance Agency, earlier this year. The U.S. House of Representatives passed S. 2036 by voice vote on Monday night, placing a cap on the salaries of Fannie Mae and Freddie Mac CEOs right at the original amount of $600,000 per year.
Read More »Democrats on Wall Street: Break Up Big Banks & Reinstall Glass-Steagall
Democratic presidential candidates deliberated recently in their second primary debate, ultimately determining that something must be done about Wall Street banks.
Read More »Mortgage Lending Shifts to Digital Channels
Satisfaction among mortgage customers has improved overall this year as lenders have shifted their focus to developing functional digital channels and improving operational efficiency.
Read More »Home Sellers’ Optimism Beats Urgency in Q3
As a sign that the housing market is returning to normal, sellers are more likely to be selling their homes due to life-cycle motivators like upgrading or downsizing rather than securing a home before interest rates are adjusted by the Federal Reserve.
Read More »Home Prices Continue to Climb in Across Most Metros in Q3
Increases in existing-home sales and short supplies of inventory pushed home prices up in most metro areas across the nation in the third quarter, the National Association of Realtors found in it latest quarterly report.
Read More »Mortgage Interest Rates Edge Up for Second Week in a Row
Mortgage interest rates rose for the second consecutive week following a strong October jobs report and a slight jump in wage growth, which pushed Treasury yields up and increased chances for a December rate hike from the Federal Reserve.
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