Banks may not like new mortgage task force
In the Wild West of the ongoing mortgage mess, there’s a new sheriff in town. And he’s not handing "Get Out of Jail Free" cards in return for a $25 billion check. ...
Posts Tagged ‘federal’
Fed officials push more stimulus for housing
ISELIN, New Jersey — Two top Federal Reserve officials on Friday pushed the case for more stimulus from the U.S. central bank to help the economic recovery, each zeroing in on the country's weak housing market ...
Fed Strives to Improve Transparency this Year
The FOMC minutes for the December meeting suggested the Fed will focus on communication strategy at meetings this year. Members agreed to include their “projections of appropriate monetary policy” into the Summary of Economic Projections (SEP) beginning in January. The SEP will also unveil “participants' current projections of the likely timing of the first ...
SEC charges ex-Fannie, Freddie CEOs with fraud
Federal regulators have charged six former executives -- including former CEOs -- at mortgage giants Fannie Mae and Freddie Mac with securities fraud, alleging they misled investors about their exposure to risky subprime mortgage debt. The Securities and Exchange Commission said it sued three former executives at Fannie Mae and three at Freddie Mac Friday. The civil ...
Senator Roberts calling a Hearing on the Bankruptcy of MF Global
November 18, 2011 Honorable Senator Patrick Roberts United States Senate 1st & East Capitol Streets Washington, DC 20515 RE: Call a Hearing on the Bankruptcy of MF Global Dear Senator Roberts: I applaud your leadership in calling for urgent action to address a hearing to be focused “solely” on the MF Global, Inc. bankruptcy ...
Feds sue mortgage broker Allied for fraud
By Pete Williams, NBC news Bringing one of the first federal cases that directly charge a lender with the kind of conduct that led to the housing crisis, the Justice Department is suing Allied Home Mortgage, accusing the company of fraud. In a civil lawsuit filed today in New York, prosecutors say Allied "has ...
US increasingly shuns home ownership to rent
WASHINGTON — Builders starting on new apartments are busier than ever these days as demand for rentals climbs and the once-sacrosanct American dream of home ownership fades. ...
Proposal could shut many out of housing market
Proposed rules sparked by the financial industry meltdown of 2008 could have the effect of clamping down credit so hard that lower-income buyers and many others would be shut out of the mortgage market, critics say. The critics, including an unlikely coalition of mortgage lenders, consumer advocates, housing industry officials and lawmakers, say regulators ...
Bill would allow ’rounding up’ of home values
Pity the poor Nevada homeowner. With home prices tumbling there at perhaps the fastest rate in the nation, it has become nearly impossible to get a handle on how much a home is worth ...
Raj Rajaratnam Guilty
Raj Rajaratnam Guilty Rajaratnam Found Guilty of Fraud and Conspiracy A federal jury found hedge fund manager Raj Rajaratnam guilty on all 14 counts against him. The Galleon Group founder was initially charged as part of the federal crackdown on insider trading in the financial industry. Now, Mr ...