NEW YORK - New York state's banking regulator on Wednesday requested information from Nationstar Mortgage LLC about its portfolio and mortgage servicing practices, saying that it has received hundreds of complaints from consumers as Nationstar's business has seen explosive growth.
- Mutual fund manager Bruce Berkowitz, founder of Fairholme Capital Management, is pressing the boards of the mortgage-finance giants Fannie Mae and Freddie Mac to let investors have a bigger say in how the companies are run.
- Fannie Mae , the largest U.S. home funding source, said on Wednesday it plans to sell $500 million of benchmark bills on Wednesday.
WASHINGTON - President Barack Obama proposed spending $1 billion next year for the U.S. Department of Housing and Urban Development to fund a federal affordable housing trust fund established by Congress six years ago, according to the 2015 White House budget.
WASHINGTON - The U.S. Federal Housing Administration, which turned to the Treasury for aid in 2013, will avoid that fate this year due to efforts to shore up its finances, the White House predicted in its budget proposal on Tuesday.
WASHINGTON - Contracts to buy previously owned U.S. homes edged up in January after a weather-related hit at the end of last year, offering hope the housing recovery would get back on track.
NEW YORK - Societe Generale has agreed to pay $122 million to settle a lawsuit by a U.S. regulator accusing the bank of misleading Fannie Mae and Freddie Mac in the purchase of mortgage-backed securities.
WASHINGTON - Freddie Mac on Thursday posted a record annual profit of $48.7 billion for 2013, triggering another fat dividend that will put taxpayers further into the black for bailing out the No. 2 U.S. mortgage company, but it warned its recent string of eye-popping earnings was unsustainable.
WASHINGTON - The U.S. housing sector is likely to experience an uneven recovery over the next five years, with some local markets bouncing back faster than others, according to a study released on Wednesday.
Business News Headlines
- Equities slide on disappointing China trade data, Ukraine crisis
- Ackman outspent by Herbalife in lobbying battle
- Five years from U.S. stock market's low, it's joy versus worry
- U.S. public pensions need more than investment windfall
- Weak trial witnesses hinder a more aggressive SEC
- BOJ to maintain stimulus; exports seen as a concern
- U.S. judge says RBC liable in Rural/Metro buyout case
- Competitiveness matters more than euro strength: French finance minister
- Asian and European industrial health under scrutiny this week
- China February exports tumble unexpectedly, heighten slowdown fears