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Mortgage News

Activists block entrances to branches of Spanish bank

Barcelona - Anti-eviction activists blocked Wednesday the entrance to 12 branches of Spain's Banco Popular bank, which they accuse of not doing enough to prevent struggling mortgage holders from losing their homes.

Citi agrees to pay $1.1 bn in mortgage settlement

New York - Citigroup Monday said it reached an agreement with a group of 18 institutional investors to pay $1.125 billion to settle claims on some mortgage-backed securities sold ahead of the financial crisis.

JPMorgan pays $400 mn to settle on mortgage securities

New York - US banking giant JPMorgan Chase agreed to pay $400 million in cash to settle litigation filed by Syncora Guarantee Inc.

Freddie Mac reimburses US bailout on huge profit jump

New York - Freddie Mac Thursday said its payments to the US Treasury have exceeded its 2008 US bailout funds as the US mortgage-finance giant notched a huge jump in earnings.But Freddie signaled that its meteoric earnings growth, a more than four-fold increase an...

Morgan Stanley set to pay $275 mn to settle SEC probe

Washington - US banking giant Morgan Stanley on Tuesday said it would pay $275 million to settle a Securities and Exchange Commission probe of mortgage-backed securities deals.In a filing, Morgan Stanley noted that it had reached a preliminary agreement with the SE...

Op-Ed: Average UK house prices rise to £250,000, will the bubble burst?

Government figures show that the average price of a house across the U.K. has hit £250,000 ($420,000) for the first time.

NGO challenges $13 bln JPMorgan Chase settlement

New York - A non-profit group filed suit over a record $13 billion settlement between the US Justice Department and JPMorgan Chase concerning high-risk mortgage securities it sold ahead of the housing bust.Better Markets, an NGO that advocates for US financial ma...

JPMorgan to pay $614 mn to settle charges on bad loans

New York - JPMorgan Chase will pay $614 million to settle US charges that it approved thousands of bad loans that wrongly qualified for federal insurance, the Department of Justice announced Tuesday.

Morgan Stanley to pay $1.25 bn in mortgage settlement

New York - US banking giant Morgan Stanley Tuesday said it agreed to pay $1.25 billion to settle charges that it misled investors on the sale of mortgage-backed securities ahead of the housing bust.

U.S. wealthy benefit from cheaper mortgage rates

With the U.S. economy still in recovery mode and most prospective homeowners exercising caution, the rich are on a property buying spree, thanks to lower mortgage rates.

U. S. Mortgage rates drop to 4.32%

The Fed’s decision to continue its economic stimulus program unabated has sent fixed mortgage rates plunging to their lowest level in two months.

Study: Many Americans would consider getting a Walmart mortgage

According to a financial services study, one in three consumers in the U.S. would consider getting a mortgage from retailer Walmart.

Spain passes decree to curb some evictions following protests

Madrid - Following massive anti-austerity protests in Spain on Wednesday as part of the European general strike, Spain has passed a Royal decree to curb evictions in certain circumstances.

Op-Ed: Drowning in debt — American arithmetic

The debt crisis has taken on a very personal face for the average American family. This piece takes a critical look at the situation faced by an average household every month, and the situation faced by a nation drowning in its own debt.

Video: Sexy advert urges Spaniards to rent properties

A Spanish property company has launched a unique advertising campaign, targeting young Spaniards and telling them to "get a room" on their website.

Study: Most Canadians hold debt, nearly half made lump payment

Toronto - A new research study by a financial institution found that 72 percent of Canadians maintain some form of debt, while 49 percent have made at least one lump sum payment in the last year. Is the debt crisis worsening in the country?

TLC's T-Boz files for bankruptcy for second time

Tionne Watkins, a.k.a. T-Boz from the 90s musical trio TLC, has found herself filing for bankruptcy as she owes creditors almost $800,000. This is the second time Watkins has filed this year.

Toronto man accused of fraud crimes totaling over $12 million

Toronto - Peel Regional Police have arrested a Toronto man who is alleged to have victimized 40 people and 10 financial institutions for over $12 million in a mortgage scheme.

As options dwindle, White House commission looks at severe cuts

In the face of widespread financial uncertainty, a White House deficit advisory commission has proposed broad cuts and tax increases in popular environments - including mortgage interest, Social Security benefits, and defense spending.

Survey: Brits owe £55 bn in hidden debts

A survey has revealed that people in the United Kingdom owe £55 billion in hidden debts, and almost a third hide the true extent of their debt from family members.

U.S. home financing applications hits 13-year low

American industry data showed continued decline in mortgage demand. For three straight weeks, applications for mortgages have fallen as the U.S. housing market remains "vulnerable to setbacks".

Canada announces new mortgage rules

The Canadian government has introduced new rules governing mortgages in an effort to keep home-buyers from being harmed when mortgage rates increase.

Federal mortgage modification plan disappointing so far

The $75 billion dollar mortgage modification plan is being hampered due to red tape and limited savings. Foreclosures are expected to hit 3 million in 2010 and new government help may be on the way because of those expectations.

Fed's Rosengren sees mortgage rate rise in spring

Home loan rates in the USA could rise by as much as three-quarters of a percentage point in the spring as the federal reserve ends its mortgage bonds purchase program.

Woman who couldn't pay mortgage ended up being saved by an angel

She was just trying to call her daughter to let her know that she would send her money for groceries, but she really dialed the wrong number, and the woman on the other line became a holiday angel by paying the mortgage for her.

Judge Cancels Couple's Mortgage Debt, Rounds on Bank

A couple from Long Island, New York have seen the $525,000 mortgage on their ranch house canceled by a judge who has described the actions of their California-based bank as "harsh, repugnant, shocking and repulsive".

Fannie Mae Requests $15 Billion from U.S. Government

Fannie Mae, the U.S. mortgage buyer currently in the conservatorship of the Federal Housing Finance Agency (FHFA), has requested another $15 billion in state aid following a net loss of nearly $19 billion in the third quarter of the year.

Op-Ed: 7 Americans foreclosed every minute and this is a recovery?

The fecal wisdom of the business pundits shines so brightly sometimes. While the rest of the U.S. disappears under a tide of unemployment which trashes millions of lives, anything is evidence of a recovery.

Fannie Mae Request More Treasury Funds

Following the announcement of a loss for the second quarter of the year, albeit a smaller one than in the first quarter, mortgage insurer Fannie Mae has asked for a further injection of funds from the U.S. Treasury to the tune of $10.7 billion.

Op-Ed: On the Mortgage Stimulus—Where's My Carrot?

Does President Obama's anxiously awaited and recently unveiled $75 Billion Housing stimulus plan do enough to help stable homeowners whose home values have plummeted?
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The Fed’s decision to continue its economic stimulus program unabated has sent fixed mortgage rate...
The Fed’s decision to continue its economic stimulus program unabated has sent fixed mortgage rates plunging to their lowest level in two months.
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