Reverse mortgage aids homeowners in meeting life’s economic challenges
“For the past six years, I have seen what a reverse mortgage has done for so many people in the Lubbock area, and I can say I’m proud to be a part of this government insured program,” says Tim Gristy...
View ArticleBank of America layoffs are the latest as an industry shrinks
NEW YORK — Bank of America Corp. is cutting 3,500 jobs, the latest sign that the banking industry is becoming smaller, simpler and less profitable.It’s quite a transformation from the go-go days of...
View ArticleQuick Opinion
The U.S. government sued 17 financial firms for selling Fannie Mae and Freddie Mac $196 billion in mortgage-backed securities that turned toxic when the housing market collapsed. The suit alleges the...
View ArticleBank reports point to a healing housing market
NEW YORK — Earnings reports from two major banks Friday painted a picture of a healing housing market, with more Americans taking out mortgages, paying them on time and taking advantage of low interest...
View ArticleWith great mortgage rates, 2012 is right time to buy or refinance a home
Now is the right time to buy a new home! Sales of both new and existing homes are up for the first half of 2012, and the stage is set for a busy summer of buying and selling. Add to that further drops...
View ArticleGinnie Mae funds: 5 things investors need to know Ginnie Mae funds: 5 things...
BOSTON — Investors continue to place an unusually high premium on safety. How else to explain the record low yields they’re willing to accept for lending to Uncle Sam?The rate on the 10-year Treasury...
View ArticleWith great mortgage rates, 2012 is right time to buy or refinance a home
Now is the right time to buy a new home! Sales of both new and existing homes are up for the first half of 2012, and the stage is set for a busy summer of buying and selling. Add to that further drops...
View Article30-year mortgage hits record low 3.40 pct.
Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates.read more
View ArticleSpending on single-family homes increased in August for 5th straight month
WASHINGTON (AP) — U.S. builders spent more to construct homes in August, further evidence of a housing rebound. Still, the increase couldn't offset cuts in public projects and commercial real...
View ArticleNY AG sues JPMorgan over Bear Stearns securities
NEW YORK (AP) - The New York attorney general's office has hit JPMorgan Chase & Co. with a civil lawsuit, alleging that Bear Stearns perpetrated massive fraud related to billions in residential...
View ArticleStorm's cost may hit $50 billion in total; reconstruction, repairs to ease...
WASHINGTON — Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.read more
View ArticleStorm's cost may hit $50 billion; rebuilding to ease blow
WASHINGTON — Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.In the...
View ArticleMeasure of US home prices rise most in 6 years
WASHINGTON (AP) — A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more...
View ArticleIt's a great time to by a home; call Ken Magness with Wolfforth Real Estate
According to newly-released data from Freddie Mac, mortgage rates are tumbling across the country. “Fixed mortgage rates fell again this week to all-time record lows due to the mortgage securities...
View ArticleFiscal-cliff deal no recipe for a robust economy
WASHINGTON — Housing is rebounding. Families are shrinking debts. Europe has avoided a financial crackup. And the fiscal cliff deal has removed the most urgent threat to the U.S. economy.So why don’t...
View ArticleBank of America reaches mortgage claim settlement
NEW YORK — Bank of America reached an $11.6 billion settlement with government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing...
View ArticleWith great mortgage rates, 2013 right time to buy or refinance a home
Now is the right time to buy a new home! Sales of both new and existing homes are up, and the stage is set for the beginning of 2013 to be a busy time for buying and selling. Add to that interest rates...
View ArticleS&P expects lawsuit over mortgage ratings
WASHINGTON — The U.S. government is expected to file civil charges against Standard & Poor’s Ratings Services, alleging that it improperly gave high ratings to mortgage debt that later plunged in...
View ArticleQ&A: Charges against Standard & Poor's
WASHINGTON — The U.S. government is readying civil charges against Standard & Poor’s Ratings Services for improperly giving high ratings to toxic mortgage bonds before the financial crisis, the...
View ArticleUS sues debt rating agency Standard & Poor's over pre-crisis mortgage ratings
WASHINGTON — The U.S. government is accusing the debt rating agency Standard & Poor’s of fraud for giving high ratings to risky mortgage bonds that helped bring about the financial crisis.The...
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