Low interest rates spur banks to sell mortgages
Mortgage rates are near 50-year lows, a boon for those seeking to refinance or buy a new home in recent months but less so for local lenders searching for other ways to make money as profit margins...
View ArticleNot much urgency to avoid automatic spending cuts
Ten days before a new deadline for broad, automatic government spending cuts, the sense of urgency that surrounded other recent fiscal crises is absent. Government agencies are preparing to absorb an...
View ArticleAIG severs final bailout link with Treasury
The Treasury Department has sold its remaining warrants in American International Group Inc., severing its final financial link to the insurance company that got the government's biggest bailout of the...
View ArticleFed says 18 biggest US banks in stronger position
The Federal Reserve says the nation's largest banks are more prepared to withstand a severe U.S. recession and a global downturn than at any time since the 2008 financial crisis.
View ArticleFannie earns $17.2B in 2012, biggest annual gain
Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter.
View ArticleWhy Stewart Enterprises finally agreed to sell
This isn’t the first time Service Corp. has made a play to acquire Stewart Enterprises. The Houston-based company offered to pay $11 per share for the company in 2008.
View ArticleBudget deficit widens $139 billion in May
The government reported today that the U.S. budget deficit widened in May by $139 billion.
View ArticleBanks fall short in helping struggling homeowners
A new report says homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers. Such delays can...
View ArticleNew home lending rules give break to building, renovation
Federal regulators have carved out a number of exceptions to new qualified mortgage rules for lenders, including one that banks say will help keep home building and renovation an option for consumers...
View ArticleFed says big banks must improve financial cushions
The Federal Reserve says the nation's largest banks need to do a better job of determining how much capital they need to cushion against a future crisis.
View ArticleUS bank earnings rose 7.3 percent in April-June quarter
U.S. banks' earnings jumped 7.3 percent in the April-June period from a year earlier as revenues increased and the volume of soured loans banks had to write off fell to the lowest level since before...
View ArticleCitigroup’s earnings surge 36 percent, beating estimates
Citigroup said Thursday its earnings jumped 36 percent in the third quarter as the bank continued to cut expenses and clean up its books in the wake of the mess of the financial crisis.
View ArticleFeds requiring more help from companies facing criminal charges
After facing criticism in the financial collapse of 2008, the U.S. Department of Justice says it’s no longer willing to give leniency to companies facing criminal charges unless they are willing to...
View ArticleMetLife wins challenge to gov’t as judge removes threat tag
MetLife has won a major legal challenge to the government's policy for preventing another financial crisis, as a federal judge tossed out its designation by regulators that its failure would pose a...
View ArticleFannie earns $17.2B in 2012, biggest annual gain
Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter.
View ArticleWhy Stewart Enterprises finally agreed to sell
This isn’t the first time Service Corp. has made a play to acquire Stewart Enterprises. The Houston-based company offered to pay $11 per share for the company in 2008.
View ArticleBudget deficit widens $139 billion in May
The government reported today that the U.S. budget deficit widened in May by $139 billion.
View ArticleBanks fall short in helping struggling homeowners
A new report says homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers. Such delays can...
View ArticleNew home lending rules give break to building, renovation
Federal regulators have carved out a number of exceptions to new qualified mortgage rules for lenders, including one that banks say will help keep home building and renovation an option for consumers...
View ArticleFed says big banks must improve financial cushions
The Federal Reserve says the nation's largest banks need to do a better job of determining how much capital they need to cushion against a future crisis.
View Article