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Glimcher offering raises $96M after costsAP - 7/30/2010 1:36:17 PMAP - Real estate investment trust Glimcher Realty Trust said Friday a recently completed public offering of 16.1 million common shares generated about $96 million, after commissions, discounts and expenses.
Increase in FHA Mortgage Insurance Premiums Passes in HouseCQPolitics.com - 7/30/2010 1:22:19 PMCQPolitics.com - The House passed legislation Friday to give the Federal Housing Administration flexibility to raise mortgage insurance premiums on the loans it guarantees.
Reverse Mortgages Aren't Catching OnU.S. News & World Report - 7/30/2010 11:51:45 AMU.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
Fannie Mae portfolio grows, delinquencies declineReuters - 7/30/2010 10:22:48 AMReuters - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday.
Citigroup to pay $75 million to settle SEC chargesReuters - 7/29/2010 9:46:19 PM
Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
Citigroup paying $75M to settle civil chargesAP - 7/29/2010 8:50:15 PM
AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.
Florida mortgage firm settles federal chargesAP - 7/29/2010 6:30:00 PMAP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
Congress to try to recoup Fannie, Freddie costsAP - 7/29/2010 6:04:26 PMAP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Summary Box: Mortgage rates hit low of 4.54 pct.AP - 7/29/2010 4:25:55 PMAP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.
Mortgage rates hit low of 4.54 percentAP - 7/29/2010 4:09:31 PM
AP - Mortgage rates are the most affordable in decades for those who can qualify for a loan.
Citigroup settles charges over misleading investorsAFP - 7/29/2010 3:00:15 PM
AFP - US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said.
AP - 7/29/2010 10:01:08 AMAP - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks.
Foreclosures up in 75 percent of top U.S. metro areasReuters - 7/29/2010 7:48:42 AM
Reuters - Foreclosures rose in 3 of every four large U.S. metro areas in this year's first half, likely ruling out sustained home price gains until 2013, real estate data company RealtyTrac said on Thursday.
France Telecom first half net profit up 45 pctAP - 7/29/2010 3:53:43 AMAP - France Telecom SA said Thursday that first half net profit rose 45 percent due to a one-off gain, although revenue and margins were eroded by regulatory costs and competition in the home market in France.
Foreclosure activity up across most US metro areasAP - 7/29/2010 3:29:06 AM
AP - Households across a majority of large U.S. cities received more foreclosure warnings in the first six months of this year than in the first half of 2009, new data shows.
Calif. revokes real estate licenses at record paceAP - 7/28/2010 9:05:04 PMAP - The California Department of Real Estate said Wednesday it revoked a record number of real estate licenses in its most recently completed fiscal year.
Mortgage lenders must register in databaseAP - 7/28/2010 5:52:52 PMAP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
Treasury says latest mortgage-aid report flawedAP - 7/28/2010 4:46:59 PMAP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.
Summary Box: Mortgage applications down percentAP - 7/28/2010 3:47:36 PMAP - MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association.
Fed says some districts report slowing economyReuters - 7/28/2010 3:38:43 PM
Reuters - The economy kept growing overall in recent weeks, but unevenly and it actually slowed in a few regions as housing markets softened after the end of a popular tax break, the Federal Reserve said on Wednesday.