WHEELING, W.Va. – A West Virginia couple has been convicted of stealing from a 90-year-old woman to buy a beach house in North Carolina. A federal jury found 67-year-old Timothy Summers and his wife, 52-year-old Lea Ann Summers, of Proctor guilty of ...Read More »
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WASHINGTON — Federal regulators are proceeding with new rules that ease guidelines for banks selling mortgage securities and could mean fewer borrowers will need to make hefty down payments. The Securities and Exchange Commission voted 3-2 Wednesday to adopt the ...Read More »
ATLANTA — PulteGroup Inc. (PHM) on Thursday reported third-quarter net income of $140.5 million. On a per-share basis, the Atlanta-based company said it had net income of 37 cents. The results beat Wall Street expectations. The average estimate of analysts ...Read More »
WASHINGTON — Average U.S. mortgage rates continued to slide this week, raising prospects of a wave of consumers refinancing their loans. The 30-year mortgage fell further below 4 percent. Mortgage company Freddie Mac says the nationwide average for a 30-year ...
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RALEIGH — North Carolina has raised the $310,000 needed to protect land near Bennett Place Historic Site in Durham, site of the largest Confederate troop surrender of the Civil War. The bulk of the money came in two large donations of $150,000 each, ...Read More »
NEW YORK — Shares of home loan servicing company Ocwen extended their slump Wednesday after Moody’s Investors Service downgraded its credit. The firm lowered its rating on Ocwen’s credit to ‘B2′ from ‘B1′ and said the rating could be cut ...Read More »
RALEIGH — North Carolina’s unemployment rate is down slightly, but so is the number of people working. North Carolina officials said Tuesday the state unemployment rate dipped to 6.7 percent in September, down one-tenth of a percentage point from August. ...
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WASHINGTON — New U.S. rules aimed at getting banks to take on more of the risk when they package and sell mortgage securities are being relaxed with an eye to spurring broader home lending. Federal regulators have dropped a key ...Read More »