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Housing Debt Bulge as Wages Shrink Hurts U.K.: Mortgages
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"This is kind of scary -- these people have stretched themselves to the hilt," said David Blanchflower, a former Bank of England Monetary Policy Committee member and now an economics professor at Dartmouth College in Hanover, New Hampshire. A rise in interest rates, which have been at a record low since March 2009, would put house prices at risk of a "sharp" fall and jeopardize the economy, the ...
 
Investors Profit From Foreclosure Risk on Home Mortgages
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The recovery in housing is creating a market for bonds that are backed by the mortgages on homes on the verge of foreclosure.
 
Bank of America agrees $17 bn deal over dodgy mortgages
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Bank of America agreed Thursday to a record nearly $17 billion deal with US authorities to settle claims it sold risky mortgage securities as safe investments ahead of the 2008 financial crisis. Under the settlement with the Department of Justice, the Securities and Exchange Commission, and other authorities including individual states, the bank will pay out $9.65 billion in cash and provide $7 ...
 
Bank of America Papers Show Conflict and Trickery in Mortgages
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Documents in a settlement between the Bank of America and the Justice Department read like a highlight reel of mortgage sins.
 
Morning Agenda: A Market for Delinquent Mortgages
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The housing recovery is creating a market for delinquent-mortgage bonds. | A call for a more ambitious overhaul of the repo market. | William A. Ackman pitches for an I.P.O. of his Pershing Square Holdings fund. | A takeover battle for Chiquita Brands International may put inversions to the test.
 
DealBook: Delinquent Mortgages Attracting Investors
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The recovery in housing is creating a market for bonds that are backed by the mortgages on homes on the verge of foreclosure.
 
30-Year Fixed Mortgage Rates Hold Steady; Current Rate is 4.06%, According to Zillow Mortgage Rate Ticker
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SEATTLE -- The 30-year fixed mortgage rate on Zillow(R) Mortgages is currently 4.06 percent, down two basis points from this time last week. The 30-year fixed mortgage rate hovered around 4.08 percent ...
 
Exclusive: Wells Fargo loosens standards for jumbo mortgages
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By Peter Rudegeair NEW YORK (Reuters) - Wells Fargo & Co has relaxed its standards for loans for some high-priced homes as the largest U.S. mortgage lender tries to combat an industry-wide drop in mortgage volumes. The bank has eased its lending standards on mortgages it acquires from other banks, said spokesman Tom Goyda, for "jumbo" loans that are too large to receive a guarantee from ...
 
Countrywide founder Angelo Mozilo facing lawsuit over subprime mortgages
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NEW YORK (MarketWatch) -- Countrywide Financial Corp. co-founder Angelo Mozilo is facing a civil lawsuit over subprime mortgages, according to a report by Bloomberg. The Los Angeles U.S. attorney is reportedly getting ready to file the lawsuit against Mozilo and up to 10 other former Countrywide executives. The firm, which was later bought by Bank of America Corp. , originated, purchased and ...
 
US average rate on 30-year home loan 4.10 percent
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Average U.S. rates on long-term fixed mortgages declined this week, with the 30-year loan rate hitting its 52-week low. Here's a look at rates for fixed and adjustable-rate mortgages this week and over ...