WASHINGTON - Costs from faulty mortgages and shoddy foreclosures have topped $72 billion at the biggest U.S. banks as they near a settlement of a 50-state probe into the industry?s practices.
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Bad home loans top $72B in ?colossal failure?
Posted by mortgage 105 days ago (Editorial)
Canadian banks rethink record low mortgage rates
Posted by mortgage 104 days ago (Editorial)
TORONTO (Reuters) - Canada's big banks, which entered a mini-price war on mortgages last month, are now raising their rates ahead of schedule, due to higher costs that make the cheap mortgages more expensive to fund. Royal Bank of Canada and Toronto-Dominion Bank , which had offered a record-low rate of 2.99 percent on a four-year mortgage, said on Wednesday they were cancelling the offer, we
SEC May Target Big Banks In Lawsuit Over Mortgage-Backed Securities
Posted by mortgage 104 days ago (Editorial)
Regulators may be preparing a lawsuit against some of the country's largest banks in order to probe their role in the acceleration of the financial crisis.
Bernard Hickey: Are NZ banks about to raise interest rates?
Posted by mortgage 101 days ago (Editorial)
ANZ and Westpac announced increases in their floating mortgage rates in Australia on Friday, even though there had been no change in the Official Cash Rate.They argued the cost of their foreign borrowings had increased substantially...
Mortgage Applications Decline As Purchase Demand Falters
Posted by mortgage 99 days ago (Editorial)
Applications for U.S. home mortgages slipped last week, pulled lower by a steep drop in demand for home purchases, an industry group said on Wednesday.
Is refinancing a VA home loan worth it?
Posted by mortgage 97 days ago (Editorial)
Dear Dr. Don, Is it worth refinancing our 30-year Veterans Affairs, or VA, loan, which we paid extra points to lower it to 4.5 percent three years ago? Refinancing would cost us $5,512 for a 3.7 percent interest rate on a 30-year fixed-rate mortgage.
Is giving your child a personal loan worth the risk?
Posted by mortgage 96 days ago (Editorial)
Some parents have become their child's mortgage lender as more young people fail to qualify for mortgage loans even with...
Average mortgage rates go up
Posted by mortgage 93 days ago (Editorial)
Average mortgage rates went up across 2-year, 3-year and 5-year fixed rate products and 2-year and 3-year trackers in February, figures from Moneysupermarket reveal.
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