Fannie Mae CEO to step down
Posted by Reuters: Business News on January 10, 2012
WASHINGTON (Reuters) – Fannie Mae’s Chief Executive Michael Williams will step down after a successor is named, the mortgage financing company said on Tuesday.
California attorney general subpoenas Fannie, Freddie: report
Posted by Reuters: Business News on November 18, 2011
(Reuters) – The California attorney general’s office has sent subpoenas to Fannie Ma e and Freddie Mac in a wide-reaching probe into the government-backed mortgage giants’ lending and foreclosure practices, the Los Angeles Times reported Thursday.
New York prosecutors widen Goldman probe: report
Posted by Reuters: Business News on September 7, 2011
(Reuters) – New York prosecutors are widening their investigation into the manner in which Goldman Sachs marketed certain mortgage-linked securities before the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.
Regulator sues major banks over subprime bonds
Posted by Reuters: Business News on September 4, 2011
WASHINGTON/NEW YORK (Reuters) – A regulator sued 17 large banks and financial institutions on Friday over losses on about $200 billion of subprime bonds, which may hamper a broader government settlement of the mortgage mess left over from the housing crisis.
U.S. regulator sues major banks over subprime bonds
Posted by Reuters: Business News on September 2, 2011
WASHINGTON/NEW YORK (Reuters) – A U.S. regulator sued more than a dozen major banks on Friday over losses on nearly $200 billion of subprime bonds, which may hamper a broader government settlement of the mortgage mess left over from the housing crisis.
Regulator to sue major banks over mortgages
Posted by Reuters: Business News on
WASHINGTON (Reuters) – A U.S. regulator is filing lawsuits against major banks, accusing them of bundling subprime home loans into bonds that never should have been sold to investors, and causing mortgage giants Fannie Mae and Freddie Mac to lose billions, a source said.
Fed orders Goldman to review foreclosures
Posted by Reuters: Business News on
NEW YORK (Reuters) – The Federal Reserve ordered Goldman Sachs Group Inc to hire a consultant to review practices of a former mortgage subsidiary on Thursday and said it plans to assess a monetary penalty for wrongful foreclosures.
BofA shares decline in early trading
Posted by Reuters: Business News on August 23, 2011
CHARLOTTE, North Carolina (Reuters) – Bank of America Corp shares fell as much as 6.2 percent in morning trading Tuesday amid fears that the largest U.S. bank by assets will need to raise capital to absorb billions in mortgage losses.
Indexes rise on data; BofA drags
Posted by Reuters: Business News on
NEW YORK (Reuters) – U.S. stocks rose on Tuesday, after gauges of Chinese and euro zone economic activity came in less gloomy than feared, but bank stocks fell as investors fretted Bank of America Corp may need to raise capital and could face additional mortgage lawsuit payouts.
JPMorgan dismisses mortgage head Lowman
Posted by Reuters: Business News on June 14, 2011
NEW YORK (Reuters) – JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who had been sidelined in February after the bank racked up billions of dollars in losses on mortgages and became mired in litigation over foreclosures.
