Government-controlled mortgage giant Freddie Mac has requested just $146 million in additional aid after posting a smaller loss in the fourth quarter of last year.
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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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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 »
For some in the construction industry, projects are picking up. But builders and bankers disagree on what’s driving it.Read More »
Geoffrey Lamb says he unintentionally broke the state’s real estate laws while running a foreclosure-relief company in 2008. But the North Carolina Real Estate Commission uses much stronger language to describe what Lamb did as owner of U.S. Consumer Solutions, a Concord company that is no longer in business.Read More »
Bank of America Corp. will sell and lease back three buildings it owns in Charlotte and New York as part of an ongoing efficiency program, according to news reports. The Charlotte buildings are Fifth Third Center and the Hearst Tower. The New York building is 222 Broadway in lower Manhattan.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 »
On Wednesday, Mark Vitner, managing director and senior economist for Wells Fargo, was the featured speaker for a “State of the Charlotte Commercial Real Estate Market and Outlook” forum. But most of his presentation ended up being focused on the ...Read More »