Bank of America Heads to Court Over $8.5 Billion Settlement
A long-running fight comes to a head when court proceedings begin over an $8.5 billion settlement between Bank of America and investors in soured mortgage securities.
Housing Bubble
U.S. Home Prices Surge 10.5% in March
A survey shows U.S. home prices rose 10.5 percent in March compared with a year ago, the biggest gain since March 2006.
BofA, MBIA Reach Settlement in Mortgage Dispute
Bank of America agrees to pay MBIA $1.6 billion to settle a dispute over soured mortgage securities issued during the U.S. housing boom.
Surge in New-Home Sales Signals Reviving Housing Market
Sales of new homes rebounded in March to the second fastest sales pace in three years, adding evidence of a sustained housing recovery.
Existing Home Sales Edge Down as Prices Rise
U.S. home resales edged downward in March, pointing to some slowdown in the housing market recovery pace as overall economic activity cools.
16 Big Bubbles That Are Getting Ready to Pop
With stocks markets soaring, many wonder if equities will be the next bubble to burst. But stocks aren't the only assets that look frothy: These are showing danger signs too.
Her Financial Goal: Getting an Underwater Mortgage Afloat Again
Everyone has things they want to improve about their financial lives -- and we at DailyFinance are no exceptions. So we asked money expert Jean Chatzky for advice on how to reach our goals. Today: A photo editor looking to modify an underwater mortgage.
Guess What Wall Street's Doing With Foreclosed Homes?
Despite the new housing construction boom, there are still lots of empty foreclosures out there, which banks have been trying to rent. But now, Wall Street wants to bundle those rental properties into securities and sell them to investors. Does this sound disturbingly familiar?
More States Join Lawsuit Challenging CFPB and Dodd-Frank
Eight more states have joined a lawsuit aimed at challenging the constitutionality of parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including the creation of the Consumer Financial Protection Bureau.
Fed Governor Signals Strong New Stance on Economic Bubbles
In the past, the Fed believed it had no business trying to deflate asset bubbles -- even though when they pop, they can wipe an economy out almost overnight. But a speech made by recently appointed Federal Reserve Governor Jeremy Stein suggests that policy may be about to change.
Home Prices Rose in December by Most Since May 2006
U.S. home prices rose 8.3 percent in December compared with a year earlier, according to data Tuesday from CoreLogic, a real estate data provider. That is the biggest annual gain since May 2006. Prices rose last year in 46 of 50 states.
CFPB Unveils New Federal Rules to Curb Risky Mortgages
The Consumer Financial Protection Bureau is laying out the nation's first rules aimed at ensuring that mortgage borrowers can afford the loans they take out. Among the new regulations are bans on the risky "interest-only" and "no documentation" loans that helped inflate the housing bubble.
Homebuilder Confidence Hits Highest Level Since 2006
Confidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders' communities.
Vegas Realty Crisis, Meet Reality TV: CNBC Flips Over Foreclosures
If America's subprime mortgage crisis was an earthquake, Las Vegas would be the epicenter: No U.S. city has suffered more. But all that devastation makes for great TV. Or at least CNBC hopes so, because it's mining that economic disaster for "Flipping Wars: Vegas."
Americans Are Still Paying the Tab for Countrywide's Misdeeds
Once, Countrywide Financial was the biggest U.S. mortgage lender, and the bloated appraisals it gave on homes were a root cause of the housing bubble. Here's why we're all still paying for Countrywide's bad behavior.
Fannie Mae Earned a Profit in Q1, Says It Doesn't Need More Aid
Mortgage giant Fannie Mae says it made $2.7 billion in the first quarter, the first time it has had a net income gain since it was taken over by the government during the 2008 financial crisis.
Occupy Our Homes Targets Banks Over Mortgage Mess
A spin-off group from Occupy Wall Street, called Occupy Our Homes, has formed to reverse and stop foreclosures. Lately, the group has been using creative tactics to raise awareness about the banking practices that led to the housing bubble.
Home Ownership: American Dream or Nightmare?
Here's more evidence that the foreclosure crisis has changed the way we think about home ownership's place in the American dream. Nearly half of those polled in a newly released survey said that owning a home today was a "nightmare." But not all polls reflect such a pessimistic view.
Penn Badgley: Investing Is 'Greek to Me'
The actor who stars in Margin Call, a film about high finance, reveals that he doesn't believe in investing, confesses his ignorance about "the system" and explains why he's taking up the Occupy Wall Street cause.
How Our Economy Has Changed Since 9/11
Many of the economic problems of Sept. 11, 2001, feel awfully familiar today: Recession, bursting bubbles, low consumer confidence, predatory lending. But of course, it's a whole new world now, so we asked economists what the most significant shifts of the past decade have been.
Will Latinos Drive the Housing Recovery?
More than any other demographic, Latino homeowners were slammed by the mortgage crisis: Two-thirds of total Hispanic wealth in the U.S. evaporated from 2005 to 2009. But as the fastest growing demographic in the nation, they are also well positioned to power the housing rebound.
Great Recession Created a Historic Racial Wealth Gap
The twin demons of the housing market crash and the Great Recession have created historic wealth gaps among racial groups in America: The median wealth of white households is 20 times that of black households, and 18 times that of Hispanic households. The main culprit in minority wealth loss? The housing bust.
Home Sellers Still Fighting the Need to Reduce Prices
Sales of previously owned homes hit a six-month low in May, and overpriced inventory is a key factor. Though we all watched the real estate market crater, most sellers are still overpricing their homes, and the worst price optimists are the ones who bought after the housing bubble burst.
10 Hard Facts About America's Economic Recovery
As President Obama took part in his first-ever Twitter-facilitated town hall, jobs and the economy were high on the agenda. In line with those themes, the nonpartisan Economic Policy Institute held a little get-together of its own to outline 10 key facts about the recovery and what's really wrong with the economy.
Housing Numbers Show Promise -- But Is It Real?
In a surprising twist, some of the best housing numbers in eight months surfaced Tuesday. But is it all good? We checked in with AOL Real Estate Editor in Chief Laura Goldstein for some insight about what the latest data really means.
The Financial Landscape: BAC Settles, FINRA Flexes
Bank of America will soon finalize an $8.5 billion agreement to settle investor claims that Countrywide sold them lousy mortgage-backed securities before the housing bust. Meanwhile, private regulator FINRA is angling to take over the watchdog role for registered investment advisers.
Three Questions to Ask Before Buying a Home
Today's sluggish housing market has little margin for error: Make an ill-conceived or poorly researched home purchase now, and you'll almost certainly pay the price later. To avoid that, make sure you have the right answers to these three questions before you buy your next home.
Prospective Homebuyers: Time Is on Your Side
The latest reports on home sales and prices offer a complicated and conflicted picture. But when the data are taken together, one thing is clear: Weighing risk and reward, it's worth waiting a few months to see which way the real estate winds are really blowing.
Career Risk-Taking Hits a New Low, Thanks to the Still-Weak Economy
Whether it was a fresh startup or a fresh start, fewer Americans seemed willing to take career risks last year, according to a new report by Challenger, Gray & Christmas. The percentage of job-seekers starting their own businesses or relocating for new positions fell to historic lows in 2010.