Construction of single-family homes cooled off slightly in January after surging in the final month last year. But a rise in permits suggests builders are growing more confident that more buyers are ready to come off the sidelines.Read More »
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The housing market recovery hasn't taken off yet, but a rally in its stocks sure has. The Standard & Poor's homebuilders index is up 60 percent since October. Given that stock prices tend to anticipate business trends, does that mean a housing market rebound is imminent during the spring home-selling season?
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The mortgage settlement that government officials announced Thursday is intended to help victims of foreclosure abuses that followed the housing bust. Here's a look at what the settlement will and won't do for current and former homeowners.Read More »
New York and California have agreed to sign the proposed settlement between U.S. states and the nation's biggest mortgage lenders over foreclosure abuses, according to a source close to the negotiations. In North Carolina, Attorney General Roy Cooper has shown support for the draft agreement, according to news reports.Read More »
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 while saving banks over $2 billion.Read More »
Federal and state law enforcement officials announced Friday they have launched a fraud-fighting unit, starting with 55 prosecutors and investigators, to root out wrongdoing in the market for residential mortgage-backed securities.Read More »