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Feds sue 
mortgage broker, 
alleging 
lending fraud

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 ...

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HARP plan not music to industry’s ears (access required)

The Obama administration rolled out revisions to a program last month designed to prevent some homeowners from going into foreclosure. But many question the Home Affordable Refinance Program’s effectiveness and say that it’s too narrow and limited to make an ...

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Limited effect: FHA lowers loan caps, but Charlotte impact expected to be slight (access required)

This month, the Federal Housing Administration’s single-family home loan limits dropped in more than 600 counties across the U.S., including some in the Charlotte area. On its face, it sounds like more grim news for the housing industry: Lower loan ...

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Bank Bailout: CommunityOne takes control of failed subdivision site from Gaston commissioner (access required)

Joe Carpenter made his living cutting grass with his own landscaping business. This month, the 75-year-old Gaston County Commissioner is just cutting his losses. Instead of foreclosing, CommunityOne Bank accepted land from Carpenter meant for two failed subdivisions: Kings Pinnacle ...

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Homebound: Many Charlotte-area 
owners are staying put in 
the downturn rather than downsizing (access required)

News stories, pundits and blog entries across the U.S. have recently trumpeted the return of the smaller home as consumers look for ways to cut expenses as the economy limps along. But the trend has skipped over the Charlotte area, ...

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