U.S. mortgage rates have grown for five straight weeks, in the last week hitting their highest levels in seven months. Ten-year Treasury note yields have been climbing on inflation concerns, driving the higher rates.
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Bank of America challenges testimony by one of its operational leaders — that Countrywide may have held on to homeowners’ notes that it should have put into a trust. But the testimony is reinforcing fears that BofA is in big t…
A smaller percentage of mortgage holders were delinquent on their payments in the third quarter than in the second quarter, although the percentage of delinquencies remains up from the same period last year.
Co…
Bank of America and Wells Fargo were among banks that tightened credit standards for mortgages insured by the Federal Housing Administration in a move that may put a crimp in the U.S. housing recovery by effectively eliminating…
As Bank of America continues to cope with fallout from the housing and mortgage crisis, the financial institution may have to pay some year-end employee bonuses in the form of stock because of a possible cash shortfall related …