NEW YORK Just as mortgage bankers were preparing for the end of a historic boom driven by low interest rates, borrowers have begun knocking at their doors again. In earnings reports last week, JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N) and Citigroup... More »
LONDON Asking prices for British residential property slipped slightly more than usual after last month’s vote to leave the European Union, though the overall impact remains hard to judge, figures from property website Rightmove showed on Monday. Average price... More »
(This version of the July 11 story corrects age of Gerald Freisleben to 55 from 50 and spelling of his last name from Freiselben in last and third-from-last paragraphs) By Beth Pinsker NEW YORK After thrice refinancing the house she had bought in 2012, Nedalee... More »
NEW YORK Availability of U.S. home loans fell in June as some investors stopped making certain type of adjustable-rate mortgages, the Mortgage Bankers Association said on Monday. The Washington-based group’s mortgage credit available index fell 1.3 percent to ... More »
LONDON Britain’s 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, an upheaval that threatens London’s dominance of finance. The ‘Vote Leave’ campaign fron... More »
DETROIT The connection between Quicken Loans Inc founder Dan Gilbert and billionaire magnate Warren Buffett became evident last month with news that Buffett was backing Gilbert’s surprise bid for Yahoo Inc. But the two men have another business connection that... More »
NEW YORK UBS AG urged a U.S. judge on Friday to reject claims that it should be held liable for $2 billion in losses that investors incurred on mortgage-backed securities issued before the collapse of the U.S. housing market. Lawyers for UBS made their closing... More »
VIENNA Europe and Japan’s central bank policies of negative interest rates are a “horror” and will run counter to the desired effect, Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said in an interview with a Swiss newspaper. Gundl... More »
NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said on a webcast on Tuesday that the Federal Reserve’s rate hike cycle “increasingly likely” looks like a one and done scenario this year. Gundlach, who oversees $95 billion ... More »
NEW YORK Home prices are rising faster than wages in most of the United States, making homeownership increasingly difficult for average Americans in some of the most populous areas of the country, according to a report released on Thursday. The report found th... More »
ITU ABA, South China Sea On Itu Aba, in the Spratly archipelago of the South China Sea, Taiwanese coast guard officials proudly haul a small wooden bucket of water from one of several simple concrete wells on the coral outcrop. The water, clear and sweet tasti... More »
NEW YORK At last May’s annual meeting of his Berkshire Hathaway Inc, Warren Buffett said he had “no apologies whatsoever” for the lending practices of the company’s Clayton Homes mobile home unit, which had been accused in a published report of predatory lendi... More »
NEW YORK A federal judge has dismissed nearly all of a lawsuit against Bank of America Corp (BAC.N) and US Bancorp (USB.N) that held them liable for losses on roughly $6.8 billion in toxic mortgage securities that helped sink five federal credit unions. In a d... More »
WASHINGTON The Federal Reserve is expected to leave interest rates unchanged on Wednesday and acknowledge that turmoil in financial markets threatens its upbeat view of the U.S. economy, leaving the chances of a March hike diminished but alive. All 69 analysts... More »
LOS ANGELES For everyone who has been saying interest rates can only go up, well – now is their time. But what does the Federal Reserve’s decision to raise interest rates actually mean for your wallet? Probably not much for the near-term. One small interest ra... More »
NEW YORKWells Fargo & Co will likely need to issue an additional $20 billion to $40 billion of long-term debt to comply with new rules designed to help banks better weather a crisis, Chief Financial Officer John Shrewsberry said on Friday. The debt issuance wo... More »
NEW YORK Bank of America Corp has reached a $335 million settlement of a federal lawsuit accusing it of misleading shareholders about its exposure to risky mortgage securities and its dependence on an electronic mortgage registry known as MERS. The second-larg... More »
Now that the U.S. Federal Reserve has held back again on interest rates, advisers are taking advantage of attractive financing options before that window begins to close. Mortgaging property when rates are low is well-known advice. But unprecedented transparen... More »
