Allstate is suing Bank of America and its Countrywide Financial division over Countrywide’s sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets wo…
If struggling homeowners can make trial modified mortgage payments, the next logical step, it seems, would be to make the modifications permanent. Sadly, however, this is a rare occurrence. Follow the stories of three families …
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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The humbled housing sector took a modest step forward last month as starts rose a better-than-predicted 3.9% to a 530,000-unit annual rate. Still, at the current pace, the nation is 18 to 24 months from seeing normal levels of …
Bank of America (BAC) said talks will continue with bondholders who are demanding it buy back securities backed by billions of dollars of bad mortgages.
Bank of America has been in talks with investors including Pacific Investment Management Co (Pimc…