The unexpected increase of 0.3% to a 610,000 annual rate provides additional evidence that homebuilding may be bottoming. However, economists caution that it’s still too early to declare any kind of solid turnaround.
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Bank of America (BAC) is preparing to resume foreclosures in 23 states, just 10 days after halting the foreclosure process on properties in all 50 states. The foreclosure halt came amid concerns that company executives may have…
The crisis could hit bank earnings in several ways, not all of them directly related to the foreclosure problem. One big risk is “putbacks,” the faulty loans banks could be forced to repurchase. JPMorgan puts that cost at up to…
Home builder confidence unexpectedly rose in October, the National Association of Home Builders said Monday. What’s more, while the housing sector still faces many hurdles — including the U.S. economy’s health — the group add…
Countrywide Financial Corp. co-founder Angelo Mozilo, along with two others, has reached a settlement agreement with the Securities and Exchange Commission related to charges of insider trading and civil fraud.
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