via BBC News JP Morgan Chase and Credit Suisse will together pay $417m (£263m) to settle charges that they misled investors in residential mortgage-backed securities offerings, US regulators have said. JP Morgan has agreed to pay $296.9m to settle the charges while Credit Suisse will pay $120m, the Securities and Exchange Commission (SEC) said. […]

via BBC News US authorities are to sue 17 major banks for losses on mortgage-backed investments that cost taxpayers tens of billions of dollars. The Federal Housing Finance Agency said it was taking action against banks including Goldman Sachs, Barclays, Bank of America, Deutsche Bank, and HSBC. The agency says they misrepresented the quality of […]

WASHINGTON — The Obama Administration announced Thursday that adjustments will be made to the Federal Housing Administration (FHA), requiring services to extend the forbearance period for unemployed homeowners from 3 months to 12 months, according to the U.S. Department of Housing and Urban Development. Expected to become a standard for the mortgage industry, these adjustments […]

CHARLOTTE, North Carolina  — There’s only one way in to Windy Ridge — across freight train tracks that zipper up the subdivision on three sides. Living room windows offer views of a cardboard box factory and a Pepsi bottling plant. It’s an unlikely place to come looking for the American Dream. ALSO READ: Charlie Sheen, […]

Latino and African-American homeowners have a disproportionate share of foreclosures nationwide compared with their percentage of homeownership, according to a new study. The study, conducted by the Center for Responsible Lending, shows that Latinos in California are especially hard hit. Perhaps this is a type of discrimination that is simply an extension of the days […]

Goldman Sachs’ moment of public flogging is here. On Tuesday, top representatives from Wall Street’s most powerful firm will appear on Capitol Hill, where they are expected to endure a harsh line of questioning from lawmakers about their role in helping bring about the financial crisis. Much of the focus however will likely center on […]

By Louise Story and Sewell Chan In late 2007, as the mortgage crisis gained momentum and many banks were suffering losses, Goldman Sachs executives traded e-mail messages saying that they would make “some serious money” betting against the housing markets. The messages, released Saturday by the Senate Permanent Subcommittee on Investigations, appear to contradict statements […]