Housing Market

Senate advances $54 billion transportation, housing bill

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WASHINGTON - The Senate on Tuesday advanced a $54 billion measure that increases funding for transportation and housing projects, setting up a spending clash with Republicans in the House of Representatives that threatens a government shutdown on October 1.

GMAC Mortgage to pay $230 million as part of foreclosure review

WASHINGTON - The Federal Reserve said on Friday that GMAC Mortgage will make $230 million in cash payments to borrowers, in a move that will end an independent, case-by-case review of potentially flawed foreclosures.

26 Jul 2013

Regulators may weaken plan to rein in mortgage underwriting-sources

WASHINGTON - Regulators will soon unveil a new proposal that is seen as softening rules to prevent the type of shoddy underwriting practices that fueled the housing bubble, according to two sources familiar with the matter.

Report raises concerns about U.S. housing aid program

WASHINGTON - Nearly half of the mortgages modified in 2009 under the Obama administration's signature homeowner rescue effort are in default again, according to a report on Wednesday that raised concerns about the program's effectiveness.

24 Jul 2013

Bernanke sees need for backstop for mortgage market

WASHINGTON - Federal Reserve Chairman Ben Bernanke weighed into the contentious debate over the future of the housing finance system on Thursday, saying some sort of backstop for mortgages was needed to protect the financial system in times of stress.

18 Jul 2013

Starved of credit, construction suppliers lag housing rebound

- When marketing executive Vanessa Sobers moved to Houston to take up a new job, she decided to buy her own home.

15 Jul 2013

U.S. appeals court will not intervene in FHFA lawsuits vs. banks

NEW YORK - Fourteen major banks sued by the Federal Housing Finance Agency over soured mortgage investments have lost a bid to have a U.S. appeals court intervene in their cases based on what they called a judge's "gravely prejudicial" rulings.

19 Jul 2013

Investors wary of rising mortgage rates despite strong builder confidence

- An odd thing happened after data released Tuesday showed that the homebuilder confidence index rose to its highest level in almost eight years - housing stocks barely moved on the news.

16 Jul 2013

Senators unveil plan to bolster Federal Housing Administration finances

WASHINGTON - The leaders of the Senate Banking Committee on Monday released a draft bill aimed at bolstering the finances of the Federal Housing Administration, which has faced mounting losses from mortgage defaults.

Politics, 15 Jul 2013

Freddie Mac to sell $2.5 billion bills on Monday

- Freddie Mac , the No. 2 U.S. home funding company, said it will sell $2.5 billion of reference bills on Monday.

15 Jul 2013