HUD settles with KB Home Mortgage (BizJournals)
The Department of Housing and Urban Development said it reached a $3.2 million settlement with KB Home Mortgage Co. in connection with a series of alleged violations of HUD requirements.
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McCain backs government takeover of mortgage giants (Channel NewsAsia) ALBUQUERQUE, New Mexico: Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his Democratic rival warned that taxpayers should not bail out their shareholders.read
Democrats call for mortgage czar, borrower aid (Reuters via Yahoo! News) Democratic leaders in the U.S. Congress called on Wednesday for the appointment of a "mortgage czar" to help stem a jump in foreclosures and $200 million of fresh funding
US Government takes over mortgage giants (AP via Yahoo! News) The Bush administration's seizure of troubled mortgage giants Fannie Mae and Freddie Mac is potentially a $200 billion bet that it will help reverse a prolonged housing and credit
About face! Reverse mortgage may help cash flow What is a reverse mortgage? It allows homeowners age 62 or older to draw money from the equity in their homes.read more...
I-Team 10 follow up: Third man admits guilt in property flipping scheme A third man has admitted his role in a property-flipping scheme that ripped off banks and taxpayers.read more...
Harper says no bailout for Canadian banks similar to U.S. plan Prime Minister Stephen Harper says there won't be any federal bailout of Canada's big banks similar to a U.S. government program that could cost U.S. taxpayers hundreds of billions of