The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.
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The world’s biggest brokerage posted a third-quarter net loss, hurt by special charges and declines in sales and trading activity in a low-volume market. On an adjusted basis, Morgan missed Wall Street’s forecast.
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The FBI is trying to determine if large lenders broke the law in the mortgage foreclosure crisis.
The agency is trying to determine whether individuals working for large mortgage lenders acted with criminal intent or were simply overwhelmed by events during the crisis, The Associated Press reported without naming its sources.
Attorneys general in all 50 states are currently…
Continue reading FBI Reportedly Investigating Foreclosure Crisis
FBI Reportedly Investigating Foreclosure Crisis originally appeared on DailyFinance on Wed, 20 Oct 2010 06:32:00.
Filed Under: Company News, Bank of America, Real Estate, Taxes, Credit
Federal agencies are investigating foreclosure processes after some major banks have said they would either review or suspend foreclosures because of possible errors. And Chicago-area law enforcers are halting foreclosure-relat…
Stocks fell sharply Tuesday after a surprise rate hike from China’s central bank and mixed quarterly earnings reports led to heavy selling in technology, materials and energy stocks.
Continue reading Dow Dives …