WASHINGTON - U.S. home resales fell to their lowest level in more than 1-1/2 years in March, but there were signs a recent downward trend that has plagued the housing market may be drawing to an end.
- New York's banking regulator is probing Ocwen Financial Corp , which collects mortgage payments, for possibly over-charging borrowers and investors to auction off foreclosed properties.
SYDNEY - The adage "safe as houses" has been an oxymoron since the global financial crisis. But it still has a resonance for Australians who use their homes as a piggy bank, salting away money by paying down their mortgages at a breakneck pace.
WASHINGTON - A U.S. government watchdog on Wednesday warned that big banks have dramatically boosted their borrowing from a federal housing finance program, a move that could pose risks to the government-sponsored system if a big borrower defaulted.
- A resurgent U.S. housing market has created an unforeseen land shortage that could take the shine off an otherwise promising year for homebuilders.
WASHINGTON - The U.S. housing industry has waited three months to find out how Mel Watt will govern taxpayer-owned mortgage companies Fannie Mae and Freddie Mac , and has been frustrated by his silence.
NEW YORK - Deutsche Bank AG has won dismissal of a lawsuit seeking to have it cover government-sponsored Freddie Mac's losses on defective mortgage securities purchased from a more than $1.4 billion trust.
WASHINGTON - A coalition of investors in Fannie Mae and Freddie Mac on Wednesday launched an effort to stop Congress from moving ahead with a U.S. housing finance reform bill, arguing it would deny them a fair share in any remaining value in the two companies.
NEW YORK - In Indianapolis, an open house event tends to draw 10 people on a good day.
Business News Headlines
- Futures gain on tech results, Apple soars in premarket
- GM posts lower first-quarter profit after recall costs
- Time Warner Cable profit beats as demand for data services rises
- Nokia says India plant unlikely to be part of Microsoft deal
- Verizon reports higher revenue after Vodafone deal
- Caterpillar posts higher first-quarter profit, raises outlook
- Lilly posts sales below estimates, trims profit forecast
- JetBlue posts lower quarterly profit as expenses rise
- Nasdaq first-quarter earnings helped by recent deals
- Tokyo Court orders bankruptcy trustee to begin Mt. Gox liquidation