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U.S. to raise cost of govt backed mortgages: sources
Feb 08, 2011 18:58 EST
WASHINGTON (Reuters) - The Obama administration will propose raising the cost of loans backed by the Federal Housing Administration as part of a plan to reduce government support of the mortgage market to below 50 percent, said sources familiar with the plan.
White House plans raise prices on government mortgages
Feb 08, 2011 11:38 EST
WASHINGTON (Reuters) - The White House budget proposal to be unveiled next week includes an increase in borrowing costs for loans backed by the Federal Housing Administration, industry sources said on Tuesday.
Senate memo shows fight awaits Dodd-Frank foes
Feb 07, 2011 15:57 EST
WASHINGTON (Reuters) - The uphill push faced by Republicans in trying to roll back last year's Dodd-Frank law was made clear on Monday by a memo from the Senate Banking Committee pledging to protect financial reforms.
Key Republican urges faster Fannie, Freddie sell-off
Feb 07, 2011 15:47 EST
ORLANDO (Reuters) - An influential Republican lawmaker on Monday pressed for a faster sell-off of home loans held by mortgage finance giants Fannie Mae and Freddie Mac.
U.S. support of mortgages must end: Redwood CEO
Feb 07, 2011 13:45 EST
ORLANDO (Reuters) - The U.S. government will have to reduce its competitive role in the mortgage market to entice private investors to return, even if it means higher borrowing costs in the transition, the chief executive officer of Redwood Trust <RWT.N> said on Monday.
U.S. to force Wall Street to defer half of bonuses
Feb 05, 2011 15:44 EST
WASHINGTON (Reuters) - U.S. regulators will propose on Monday that executives at the largest financial institutions have half of their bonuses deferred for at least three years as part of efforts to curb excessive risk taking, according to two people familiar with proposal.
BofA creates foreclosure unit
Feb 04, 2011 18:19 EST
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp <BAC.N> appointed on Friday a new foreclosure and loan modifications czar, and created a new unit to oversee problem home loans in a bid to sort out its on-going foreclosure issues, becoming the first large U.S. bank to do so.
Obama aims for sharp drop in government-backed mortgages
Feb 04, 2011 15:53 EST
WASHINGTON (Reuters) - The Obama administration has plans to reduce the role of government backed mortgages, including Fannie Mae and Freddie Mac to less than 50 percent of the market from a dominant role today, CNBC reported on Friday.
Special report: Jamie Dimon wants some R-E-S-P-E-C-T
Feb 04, 2011 10:00 EST
NEW YORK (Reuters) - What's eating Jamie Dimon?
Gold investors should stay focused
Feb 01, 2011 00:07 EST
Small hedge fund trader fell victim to one of the oldest flaws in capital markets . Last week was an eventful week at home and abroad with several events directly showing up in the performance of global markets and the price of gold. On Friday, Egypt?s mayhem in the streets caused uncertainty in the markets, but sent gold shooting up over $21 to close at $1,336.75.
Villains of financial meltdown emerge
Jan 27, 2011 19:00 EST
Perhaps no city has suffered more from the 2008 financial crisis and its causes than Las Vegas.
Obama won't renominate Smith housing regulator: White House
Jan 27, 2011 18:32 EST
WASHINGTON (Reuters) - President Barack Obama will not renominate Joseph Smith to oversee mortgage finance giants Fannie Mae and Freddie Mac, the White House said on Thursday.
US financial crisis 'avoidable' says probe
Jan 27, 2011 17:21 EST
The financial crisis that engulfed the globe and cost millions of jobs could have been avoided, a US government-appointed panel said Thursday, as they handed the baton over to prosecutors.
US must accept blame for financial crisis: panel
Jan 27, 2011 10:13 EST
The United States as a nation must accept blame for causing the financial crisis that engulfed the global economy and cost millions of jobs, a US government-appointed panel reported Thursday.
Fannie, Freddie seek to cut dividend on government stake: report
Jan 27, 2011 02:34 EST
(Reuters) - Mortgage companies Fannie Mae and Freddie Mac have been lobbying the Treasury to accept a lower dividend on the preferred stock issued during the government bail out, the Financial Times said, citing people familiar with the situation.
Panel says financial crisis avoidable
Jan 25, 2011 21:11 EST
WASHINGTON (Reuters) - The financial crisis could have been avoided and was the result of poor decision making both in Washington and at top financial firms that fostered a culture of excessive risk taking, according to a draft report written by Democrats on a panel that investigated the meltdown and obtained by Reuters.
Vampire Squid? Big Government? Crisis report splits
Jan 24, 2011 17:29 EST
WASHINGTON (Reuters) - Three competing, politically charged tales of the financial crisis will emerge this week when a U.S. congressional panel finally concludes its 20-month investigation.
Vampire Squid? Big Government? Crisis report splits
Jan 24, 2011 17:29 EST
WASHINGTON (Reuters) - Three competing, politically charged tales of the financial crisis will emerge this week when a U.S. congressional panel finally concludes its 20-month investigation.
Vampire Squid? Big Government? Crisis report splits
Jan 24, 2011 17:29 EST
WASHINGTON (Reuters) - Three competing, politically charged tales of the financial crisis will emerge this week when a U.S. congressional panel finally concludes its 20-month investigation.
Obama again mulls Smith as housing regulator: sources
Jan 20, 2011 18:14 EST
WASHINGTON (Reuters) - U.S. President Barack Obama is leaning toward renominating Joseph Smith to oversee mortgage finance giants Fannie Mae and Freddie Mac, three sources familiar with the process told Reuters.
