NEW YORK — The federal government sued one of the nation’s largest privately held mortgage brokers this month, saying its decade-long fraudulent lending practices cost the government hundreds of millions of dollars and forced thousands of American homeowners to lose ...Read More »
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WASHINGTON — Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter. Freddie Mac said Thursday that it lost $6 billion, or $1.86 per share, in the July-September quarter. ...Read More »
RALEIGH — Government-controlled mortgage buyers Fannie Mae and Freddie Mac may reduce taxpayer risk by requiring more mortgage insurance from borrowers and charging lenders higher fees, steps that could increase borrowing costs, the head of their government caretaker agency said ...Read More »
Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures. County ...Read More »
NEW YORK — Things keep getting worse for Bank of America. Today, the nation’s largest bank reported a loss of $9.1 billion during the second quarter, partly because of an $8.5 billion settlement with investors. That agreement, reached in June, ...Read More »
NEW YORK — Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed. The Charlotte bank says the settlement with 22 ...Read More »
RALEIGH — The North Carolina Department of Labor is urging anyone spending time outdoors this week to use caution and protect themselves against heat-related illnesses. State officials warn that high humidity combined with temperatures in the mid- to upper-90s can ...
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The general manager of Red Bull Racing said today he’s optimistic he can find investors to keep the team going after the energy drink maker leaves NASCAR at the end of the season. “We’re very enthused and excited about things ...Read More »
RALEIGH — North Carolina’s unemployment rate remains at 9.7 percent for the third straight month, as the state shed more than 7,000 jobs. The state Employment Security Commission reported today that the jobless rate for May remains the same as ...
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