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  1. February 7, 2014

    Welcome to Bakersfield, California

    Welcome to Bakersfield, California “You don’t know me but you don’t like me, You say you care less how I feel. How many of...

  2. October 23, 2013

    US task force probes nine banks on mortgage-backed securities

    At least nine banks face investigations by the US Department of Justice into their sales of mortgage-backed securities as...

  1. October 3, 2013

    Vampire properties haunt US housing market

    While mortgage interest rate rises haunt the US housing market, so-called vampire properties – bank-owned foreclosed homes...

  2. October 2, 2013

    NY sues Wells Fargo over mortgage settlement

    The New York attorney-general has sued Wells Fargo for allegedly violating the terms of the $25bn national mortgage...

  3. September 25, 2013

    JPMorgan in $11bn settlement talks over mortgage securities

    JPMorgan Chase is preparing to settle all of its outstanding mortgage securities issues for about $11bn as part of a deal...

  4. August 8, 2013

    US regulator joins ‘eminent domain’ mortgage fight

    The US government has threatened to stop underwriting new home loans in cities that adopt a controversial scheme to reduce...

  5. June 11, 2013

    US bankruptcies: the next chapter

    What does a company need to do to go bankrupt when money is free? Low interest rates have driven investors to riskier...

  6. July 4, 2012

    Wells Fargo takes lead in bank lobbying

    Wells Fargo spends more on lobbying from its Washington office than any rival, paying millions of dollars to influence...

  7. June 28, 2012

    Europe’s pain is my financial gain

    I am about to say something that is not very nice. It could cause offence or inflame international tensions. But I feel a...

  8. June 21, 2012

    Low rates not reaching many US homeowners

    Most US homeowners are paying above-market mortgage rates, new data show, indicating that government efforts to spur...

  9. June 13, 2012

    PNC foresees growth in mortgage losses

    PNC , the ninth-largest US bank by assets, expects losses from forced mortgage repurchases to increase as pressure builds...

  10. June 12, 2012

    Agile Romney gains momentum

    As a wealthy businessman whose fortune and friends put him firmly in the ranks of the 1 per cent, Mitt Romney has battled...

  11. June 3, 2012

    City pensions thrust to fore in US

    San Jose’s mayor governs from the 18th floor of the gleaming new city hall, its $35m glass dome glistening directly below...

  12. May 24, 2012

    US 30-year mortgages hit record low

    US 30-year fixed mortgage rates fell to a record low this week, according to data from Freddie Mac, as signs mounted that...

  13. May 23, 2012

    US new home sales on the rise

    US new home sales rose in April at a better rate than expected, continuing a run of positive data pointing to stabilisation...

  14. May 22, 2012

    US existing home sales rise 3.4%

    US existing home sales rose in April to the highest annual rate in almost two years, while a decline in foreclosed...

  15. May 16, 2012

    US home starts and industrial output rebound

    Demand for rental units led a rebound in US new home construction last month, suggesting that the troubled sector is turning...

  16. May 15, 2012

    Young Americans delay purchase of homes

    Andrea Stautberg, 27, and her husband James wanted to buy a house after finishing graduate school in 2009. But in the face...

  17. May 14, 2012

    Ally puts mortgage unit into bankruptcy

    Ally Financial, the lender majority-owned by the US government, placed its mortgage subsidiary Residential Capital into...

  18. May 9, 2012

    Fannie Mae profits to cover US dividend

    Fannie Mae will not need funds from the US Treasury for the first quarter since its 2008 bailout, stoking hopes of an end to...

  19. May 3, 2012

    US mortgage rates fall to a fresh low

    US mortgage rates have fallen to a low this week following a drop in benchmark Treasury bond yields amid renewed concerns...

  20. April 24, 2012

    US home prices show signs of stabilising

    US home prices in February showed their first monthly gain in 10 months while new home sales for March came in above market...

  21. April 18, 2012

    NY Fed to take bids on Maiden Lane debt

    The Federal Reserve Bank of New York said on Wednesday it will take bids for complex commercial real estate securities with...

  22. April 17, 2012

    US home construction slows

    Construction of new homes in the US fell unexpectedly in March to the lowest in five months, but approvals for building...

  23. April 15, 2012

    Housing policy is holding back America’s recovery

    In the coming weeks, Washington will discover whether Edward DeMarco, acting regulator of the Federal Housing Finance...

  24. April 12, 2012

    Distressed debt scheme boosts US banks

    A US government programme meant to help distressed borrowers refinance their mortgages has been a boon for big US banks,...

  25. April 12, 2012

    White House criticised for home loan failings

    The Obama administration has been accused of helping too few distressed borrowers in a housing aid programme launched as an...

  26. April 10, 2012

    Housing regulator argues for debt forgiveness

    It may be cheaper for state-controlled lenders Fannie Mae and Freddie Mac to forgive some distressed mortgage debt than to...

  27. April 3, 2012

    Fed to fine Morgan Stanley over home loans

    Morgan Stanley became the latest US bank to be ensnared by the so-called robosigning scandal, drawing the wrath of the...

  28. April 3, 2012

    US economy: A market on the move

    Off a dirt track deep in Clay County, Florida, an empty house sits in two acres of scrub, slowly decaying. The estate agent...

  29. March 29, 2012

    BofA settlement clears legal hurdle

    Bank of America took an important step toward cementing a $8.5bn legal settlement that is crucial to its future when a court...

  30. March 28, 2012

    Agency weighs in on US housing debt cases

    The US consumer agency charged with protecting borrowers from abusive lenders has lowered the bar for aggrieved homeowners...

  31. March 27, 2012

    US home prices end monthly declines

    US home prices ended a long run of monthly declines in January, but the average cost of a home has fallen to the level of...

  32. March 26, 2012

    Pending home sales fall in February

    Pending home sales in the US – contracts that have been signed but not closed – fell in February, adding to a mixed run of...

  33. March 25, 2012

    US regulator points finger over Freddie and Fannie

    The US regulator overseeing state-controlled home loan financiers Fannie Mae and Freddie Mac has said that the companies are...

  34. March 23, 2012

    US new home sales fall in February

    New sales of single-family homes in the US fell last month but prices rose to an eight-month high, rounding out a mixed week...

  35. March 21, 2012

    US housing market continues to recover

    The US housing sector showed further signs of recovery with prices stabilising and sales holding up well last month compared...

  36. March 20, 2012

    US housing starts slip in February

    Construction of new homes in the US fell in February but the figure for previous month was revised upwards in another...

  37. March 15, 2012

    Banks overbid in home foreclosure auctions

    US banks are systematically overvaluing some houses they foreclose on, increasing their own losses and causing families to...

  38. March 9, 2012

    US borrowing rises for first time since 2008

    The US passed a landmark in its recovery from the Great Recession on Thursday when new data showed the first quarterly rise...

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