FHA reverse mortgage losses may require bailout


FHA reverse mortgage losses may require bailout

WASHINGTON The Federal Housing Administration may need as much as a $1 billion rescue package before the end of the year to bolster its reserves despite efforts to shore up its finances with higher mortgage insurance premiums, a Senate subcommittee w…

HUD to Auction $1.7 Billion in Delinquent Home Mortgages

A $1.7 billion portfolio of non- performing, federally insured home loans will be offered for sale at auction next month as the government seeks to reduce losses from mounting foreclosures.

Analysis: Eurozone bank debts edge bondholders towards losses

BRUSSELS – The weight of debt on Europe's banks means it is only a matter of time before euro zone governments impose losses on senior bank bondholders, analysts believe, although policymakers remain nervous about taking such a radical step.

Manhattan U.S. Attorney, FBI Assistant Director In Charge Announce 24 Arrests In Eight Countries As Part of

Two-Year FBI Undercover 'Carding' Operation Protected Over 400,000 Potential Cyber Crime Victims and Prevented Over $205 Million in Losses

75b month of misery

Live: Big falls by BHP and Rio bring the market's losses this month to about $75 billion.

Two get some jail, must pay restitution for mortgage fraud

Two Tucson men were placed on seven years’ probation and given a minimal jail sentence Monday for their part in a mortgage fraud investment scheme that led to $2.4 million in foreclosure losses.

Some familiar names seek to rent out foreclosed homes

The Federal Housing Finance Agency asked for ideas as Fannie Mae and Freddie Mac, the mortgage companies seized by the government in 2008, seek to reduce losses, stabilize neighborhoods and support housing values by turning into rentals a portion of t…

Insider data theft costs Bank of America $10 million

A Bank of America insider who sold customer data to criminals cost the bank at least US$10 million in losses. (51 mins ago)

Housing financer Freddie Mac returns to profit

The US government-controlled housing financer Freddie Mac reported its first quarterly profit in three and a half years Wednesday, after years of losses on its huge mortgage portfolio. (1 hour ago)

NewsWatch: Chinese stocks tumble 4%

The drop in Shanghai triggers an afternoon selloff in other Asian markets, with Hong Kong and Indian stocks posting big losses. (14 mins ago)