Around The Web

Bond Report: Treasurys gain as Greece back to the drawing board

Around the Web — Fri, 10 Feb 2012 18:53:16 GMT

U.S. debt prices jump as European leaders said Greece needs to do more before they would disburse the next tranche of bailout money....(read more)

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Newsmaker: California Attorney General Kamala Harris

Around the Web — Fri, 10 Feb 2012 14:15:16 GMT

By Tim Reid and Aruna Viswanatha (Reuters) – California Attorney General Kamala Harris, a veteran prosecutor with acute political instincts and a reputation for thick skin, gambled big in the settlement negotiations with banks over illegal foreclosures. It’s a gamble that appears to have paid off spectacularly. Harris, whose state has been one of the [...]...(read more)

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Stocks set to slide on fresh Greek worries

Around the Web — Fri, 10 Feb 2012 14:13:12 GMT

U.S. stocks were set to decline at the open Friday, as investors grew concerned about the latest obstacle in Greece's ongoing debt saga....(read more)

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Goldman Sachs Retained Almost All of Fed’s Mortgage Bonds

Around the Web — Fri, 10 Feb 2012 14:12:09 GMT

Goldman Sachs Group Inc. held on to almost all of the $6.2 billion in face value of mortgage bonds that the Federal Reserve Bank of New York sold the company yesterday, based on data from Trace, the transaction reporting system of the Financial Industry Regulatory Authority....(read more)

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Fed Plays Wall Street Favorites in Secret Bond Deals: Mortgages

Around the Web — Fri, 10 Feb 2012 14:12:09 GMT

The Federal Reserve secretly selected a handful of banks to bid for debt securities acquired by taxpayers in the U.S. bailout of American International Group Inc., and the rest of Wall Street is wondering what happened to the transparency the central bank said it was committed to upholding....(read more)

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SEC Reaches Settlement in Bear Stearns Fraud Case

Around the Web — Fri, 10 Feb 2012 14:12:08 GMT

The SEC has reached a settlement with two former Bear Stearns hedge fund managers that will avert a second trial over accusations that they had misled investors as the mortgage market was crumbling. The New York Times reports....(read more)

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Banks paying delinquent borrowers to sell their homes

Around the Web — Fri, 10 Feb 2012 14:10:54 GMT

In an effort to cut their losses, banks are paying some struggling homeowners as much as $35,000 to sell their homes before they end up in foreclosure....(read more)

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$25 Billion Mortgage Agreement Doesn’t Let U.S. Banks Off Hook

Around the Web — Fri, 10 Feb 2012 14:10:53 GMT

U.S. lenders including Bank of America Corp. still face years of litigation and billions of dollars in liabilities tied to the housing collapse after agreeing to settle a probe of abusive foreclosure practices....(read more)

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Foreclosure Accord Said to Ensure Same Terms for All 50 States

Around the Web — Fri, 10 Feb 2012 14:09:49 GMT

Lenders including Bank of America Corp. and JPMorgan Chase & Co. and state attorneys general agreed to ensure that states signing a nationwide accord on foreclosures will be entitled to improved terms won later by states that opt out, two people familiar with the matter said....(read more)

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NAHB Foresees Measured Growth in Residential Remodeling

Around the Web — Fri, 10 Feb 2012 14:07:43 GMT

Press Release...(read more)

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Witnesses, senators split on housing solutions

Around the Web — Fri, 10 Feb 2012 14:07:43 GMT

Thursday's Senate Banking Committee hearing on the housing finance market drew opposing views, largely along party lines, on the best and least harmful approach to helping distressed homeowners and restoring the housing market....(read more)

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Fed-proposed rules could get CFPB action

Around the Web — Fri, 10 Feb 2012 14:07:42 GMT

Credit unions will want to monitor several proposed rules, including one addressing credit insurance disclosures, the Federal Reserve Board transferred to the Consumer Financial Protection Bureau recently....(read more)

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NAR: Explaining the Housing Market to Potential Clients, Part 3 (of 3)

Around the Web — Fri, 10 Feb 2012 14:07:40 GMT

Inventories-Increasingly Good News Note: Part one of this series is here (link) Part two is here (link) Introduction This is the third of three articles discussing how NAR data can be used by Realtors® in conjunction with local market data to provide the buyer with an overall improved understanding of the housing markets. The national [...]...(read more)

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Department of Justice Reaches Agreement to Compensate Servicemembers for Wrongful Foreclosures

Around the Web — Thu, 09 Feb 2012 23:38:06 GMT

The settlement agreement with the nation's five largest servicers announced today by Attorney General Eric Holder and the Department of Justice's federal and state partners includes substantial financial compensation to homeowners who are servicemembers and establishes significant new protections for servicemembers in the future....(read more)

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Wells Fargo's cost in foreclosure deal is $5.3 bln

Around the Web — Thu, 09 Feb 2012 21:30:27 GMT

WASHINGTON (MarketWatch) - Wells Fargo & Co.'s commitment is $5.3 billion under a sweeping $26 billion settlement between states, federal regulators and five big banks, according to the company Thursday. Wells Fargo said in a release that it is contributing $3.4 billion for its own consumer relief programs that include efforts to cut the amount owed by borrowers. An additional $1 billion is to be paid directly to the states and federal government for foreclosure programs and $900 million will be put into a broader refinance program for borrowers who have little or no equity in their homes....(read more)

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