United States deposit insurer FDIC has sued Deutsche Bank and other big financial groups, seeking damages for mortgage losses. The lawsuit is one more attempt to clean up the subprime mortgage scandal.
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FDIC sues big banks over subprime mortgage losses
Posted by mortgage 20 hours ago (Editorial)
ADB report recommends mortgage insurance for Thailand
Posted by mortgage 2 days ago (Editorial)
A recent Asia Development Bank (ADB) report said that Mortgage Insurance will be a useful, but not an essential, feature of the Thai mortgage market.
Three major banks cut mortgage rates
Posted by mortgage 6 days ago (Editorial)
Westpac has moved to cut some of its advertised fixed-term mortgage interest rates, on the heels of cuts by Kiwibank earlier in the day, matching the state owned bank's new market low offers over two and three years. And late in the...
Mortgage Rates in U.S. Fall to Record Lows With 30-Year at 3.79%
Posted by mortgage 6 days ago (Editorial)
Mortgage rates in the U.S. fell to a record for a third straight week, reducing borrowing costs as the housing market improves and home-loan defaults decline.
Ally not looking to sell U.S. auto lending: CEO
Posted by mortgage 8 days ago (Editorial)
(Reuters) - Ally Financial is "absolutely not" looking to sell its core U.S. auto lending business as it seeks ways to pay back $12 billion it owes to U.S. taxpayers after a government-funded bailout during the financial crisis, the company's CEO said Tuesday. Ally, the former in-house financing arm for General Motors Co , on Monday announced plans to sell some international operati
Former GM mortgage unit files for bankruptcy in the US
Posted by mortgage 8 days ago (Editorial)
ResCap, the subprime mortgage lender that was once owned by the US car giant General Motors, filed for bankruptcy protection yesterday in a move that is expected to help its parent company, Ally Financial, focus on its main car lending business and put together a plan to pay back billions to US taxpayers.
Obama touts mortgage aid program, urges Congress to expand it
Posted by mortgage 11 days ago (Editorial)
RENO ? President Obama rolled into a modest hilltop neighborhood here to champion his efforts to help underwater homeowners get back on their feet ? and to urge Congress to do more. Standing outside the house of Val and Paul Keller, who have watched the value of their home plummet well below the amount they owe on their mortgage, Obama announced a dramatic spike in the number of Americans ...
Mercury News interview: Paul Leonard, Center for Responsible Lending
Posted by mortgage 11 days ago (Editorial)
Center director forecast housing market's bubble before bust in 2007
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