Home >> Headlines (page 440)

Headlines

Goldman Sachs, FHFA Settle in RMBS Suit

Goldman Sachs has agreed to pay $3.15 billion to settle a lawsuit filed by the Federal Housing Finance Agency (FHFA) over faulty RMBS. Under the terms of the settlement, Goldman Sachs will pay $2.15 billion to Freddie Mac and about $1 billion to Fannie Mae to buy back the alleged faulty RMBS the two GSEs purchased between 2005 and 2007. FHFA estimates the worth of the settlement to be about $1.2 billion due to the bonds' current value.

Read More »

Mortgage Risk Index Down in July

Loan risk in the mortgage market slid down again in July but remained far above safe levels, according to the latest measure from the American Enterprise Institute (AEI). The group reported that 11.41 percent of home purchase loans measured in its National Mortgage Risk Index (NMRI) would be at serious risk under "severely stressed" economic conditions.

Read More »

Home Prices Gain 5.5% in June Index

Black Knight Financial Services reported Monday a 5.5 percent annual increase in its Home Price Index (HPI) for June, bringing the index to a value of $241,000 based on transactions throughout the month. June's improvement compares to increases of 5.9 percent, 6.4 percent, and 7.0 percent recorded in May, April, and March, respectively.

Read More »

New Home Sales Fall 2.4% in July

In a release on Monday, the Commerce Department estimated new home sales last month were at a seasonally adjusted annual pace of 412,000, a decline of 2.4 percent month-over-month. June sales received a slight upward revision to a rate of 422,000, while May sales were also bumped up in a second revision to 454,000—still far below the 504,000 originally reported by the government.

Read More »

Fed Chair Signals Caution as Economy Continues to Improve

Federal Reserve Chair Janet Yellen called for moderation in monetary policy in a major speech on Friday as the economy continued to show signs of a slow but steady recovery. Speaking from Jackson Hole, Wyoming, the central banker hailed a falling unemployment rate and improving payroll figures but held back from calling it significant enough process to notch up still-low interest rates.

Read More »

Report: U.S. Attorneys Set Sights on Former Countrywide Exec

U.S. attorneys in Los Angeles are reportedly preparing a civil lawsuit against former Countrywide Financial CEO and co-founder Angelo Mozilo for his alleged role in the subprime boom that led to a financial meltdown. Mozilo continues to be defiant, denying any culpability and saying in a recent deposition that that he had "no regrets" in the way that he managed Countrywide.

Read More »

Home Flipping Activity Drops to Two-Year Low

Nationwide sales of flipped homes dropped both quarter-over-quarter and year-over year in the second quarter of 2014 as profit margins shrank, according to RealtyTrac. About 31,000 homes were flipped—bought and sold again within 12 months—in Q2, the company reported, accounting for 4.6 percent of all single-family home sales in the United States.

Read More »