Subprime mortgage crisis has bred lawsuits, FBI investigation (The Record) BOSTON -- Regulators are trying to punish Wall Street for mortgage finance practices that expanded home ownership and spread risk among a host of new players -- but also may
Houses more affordable HOME buyers can expect housing to become more affordable over the next 18 months as prices fall further.via
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Monster garages TROY, Mich. - Paul Piscopo wanted a home for his nine cars with plenty of space left over for other vehicles he might buy down the road.via
Big banks boost mortgage rates The cost of borrowing for a home is going up and, in some cases, by quite a bit.read more...
Mortgage banker IndyMac enjoys strong first quarter (bizjournals.com via Yahoo! Finance) Mortgage lender IndyMac Bancorp Inc. announced record quarterly mortgage production of $20 billion.read more...
“Conditions in mortgage markets remain quite difficult”
A rising tide of late mortgage payments and home foreclosures poses considerable dangers to the national economy, Federal Reserve Chairman Ben Bernanke warned anew Monday as he urged Congress to take additional steps to alleviate the problems.
‘High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets and the broader economy,’ Bernanke said in a dinner speech to Columbia Business School in New York. ‘Therefore, doing what we can to avoid preventable foreclosures is not just in the interest of lenders and borrowers. It’s in everybody’s interest,’ he said. Read more
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