Credit Score Monster News

Key states move closer to foreclosure-abuse deal (AP)

AP - California and New York, the key holdouts in a long-awaited settlement over foreclosure abuses, moved closer Monday to backing a deal that would force the five largest mortgage lenders to reduce loans for about 1 million households. More than 40 U.S. states have agreed to a nationwide settlement.

posted on Tue, 07 Feb 2012 02:39:25 GMT @ Tue, 07 Feb 2012 02:39:25 GMT

Mortgage deal faces setbacks, again (Reuters)

Reuters - A multi-state mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to press specific concerns and ignore a Monday deadline to decide whether they will sign it.

posted on Tue, 07 Feb 2012 00:11:21 GMT @ Tue, 07 Feb 2012 00:11:21 GMT

Housing plan helps nearly 1 million homeowners (Reuters)

Reuters - Nearly 1 million U.S. homeowners have won permanent reductions on mortgage payments since the Obama administration launched its foreclosure prevention program in 2009, the U.S. Treasury said on Monday, only a fraction of the total it aimed to reach.

posted on Mon, 06 Feb 2012 22:26:24 GMT @ Mon, 06 Feb 2012 22:26:24 GMT

Fidelity Nat'l to buy O'Charley's restaurant chain (AP)

AP - A title insurance and mortgage services company that already owns a stake in the Bakers Square restaurant chain is buying the restaurant operator O'Charley's Inc., the companies announced Monday.

posted on Mon, 06 Feb 2012 15:20:06 GMT @ Mon, 06 Feb 2012 15:20:06 GMT

New York sues banks over electronic mortgage system (Reuters)

Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.

posted on Fri, 03 Feb 2012 22:54:10 GMT @ Fri, 03 Feb 2012 22:54:10 GMT

NY's Schneiderman sues banks in foreclosure effort (AP)

AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures.

posted on Fri, 03 Feb 2012 18:35:37 GMT @ Fri, 03 Feb 2012 18:35:37 GMT

Goldman to face mortgage debt class-action lawsuit (Reuters)

Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

posted on Fri, 03 Feb 2012 17:37:51 GMT @ Fri, 03 Feb 2012 17:37:51 GMT

If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool)

The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century."

posted on Fri, 03 Feb 2012 15:09:25 GMT @ Fri, 03 Feb 2012 15:09:25 GMT

Analysis: Obstacles high for more mortgage prosecutions (Reuters)

Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.

posted on Fri, 03 Feb 2012 02:09:16 GMT @ Fri, 03 Feb 2012 02:09:16 GMT

Rate on 30-year mortgage falls to record 3.87 pct. (AP)

AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.

posted on Fri, 03 Feb 2012 00:01:17 GMT @ Fri, 03 Feb 2012 00:01:17 GMT

3 investments for an era of low interest rates (AP)

AP - The Federal Reserve is making it increasingly hard for investors to earn anything, unless they're willing to accept plenty of risk. Ben Bernanke and his Fed are playing the role of adviser, encouraging Americans to get a little more adventurous by shifting savings out of low-yielding bonds and putting it to work in stocks.

posted on Thu, 02 Feb 2012 22:50:37 GMT @ Thu, 02 Feb 2012 22:50:37 GMT

Wynn's 4th-qtr profit up 67 pct as revenue climbs (AP)

AP - Wynn Resorts Ltd. said Thursday that revenue growth in its Macau and Las Vegas casinos and a sizable income tax gain helped drive profit up 67 percent in the last three months of 2011.

posted on Thu, 02 Feb 2012 22:25:48 GMT @ Thu, 02 Feb 2012 22:25:48 GMT

Sallie Mae will credit $50 fee to suspend payments (AP)

AP - Private student lender Sallie Mae is changing how it handles a fee it charges struggling borrowers who seek to temporarily suspend payments.

posted on Thu, 02 Feb 2012 21:29:25 GMT @ Thu, 02 Feb 2012 21:29:25 GMT

Summary Box: Sallie Mae changes policy on loan fee (AP)

AP - THE NEWS: Private student lender Sallie Mae is changing how it handles a fee that struggling borrowers must pay to temporarily suspend payments.

posted on Thu, 02 Feb 2012 21:05:51 GMT @ Thu, 02 Feb 2012 21:05:51 GMT

Mortgage rates for the past 52 weeks, at a glance (AP)

AP - Mortgage rates for the past 52 weeks, at a glance

posted on Thu, 02 Feb 2012 15:25:55 GMT @ Thu, 02 Feb 2012 15:25:55 GMT

Obama plan to lower mortgage payments could help, but how much? (The Christian Science Monitor)

The Christian Science Monitor - President Obama fleshed out a new mortgage-relief plan Wednesday, saying the steps he outlines would "help millions of responsible homeowners" and the US economy.

posted on Thu, 02 Feb 2012 00:13:17 GMT @ Thu, 02 Feb 2012 00:13:17 GMT

Did Freddie Mac Want You to Fail? (ContributorNetwork)

ContributorNetwork - COMMENTARY | I have been telling my friends lately that I hate banks and insurance companies. It seems I now have a bit more ammunition. ProPublica and NPR News recently uncovered disturbing news. Freddie Mac, a mortgage company controlled by the government, has made investments that will be worth more if homeowners are unable to refinance their mortgages.

posted on Wed, 01 Feb 2012 21:04:54 GMT @ Wed, 01 Feb 2012 21:04:54 GMT

Credit Suisse exec charged in NY mortgage probe (AP)

AP - A Credit Suisse executive who was once slated to receive nearly $7 million in compensation in 2007 is among three of the company's former employees to be criminally charged.

posted on Wed, 01 Feb 2012 20:52:31 GMT @ Wed, 01 Feb 2012 20:52:31 GMT

Exclusive: Mortgage deal would give states enforcement clout (Reuters)

Reuters - A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.

posted on Wed, 01 Feb 2012 20:44:36 GMT @ Wed, 01 Feb 2012 20:44:36 GMT

President Obama's Mortgage Refinance Plan Just a Bid for Votes (ContributorNetwork)

ContributorNetwork - COMMENTARY | The Associated Press is reporting that President Barack Obama is planning to push for legislation that would allow millions of homeowners with government-backed mortgages to refinance their loans to take advantage of the historically low interest rate.

posted on Wed, 01 Feb 2012 19:01:28 GMT @ Wed, 01 Feb 2012 19:01:28 GMT

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