Kate Berry

Chicago is the latest municipality to adopt a resolution to hold hearings on whether to use eminent domain to take over underwater mortgages from private investors.

New York Community Bancorp Inc. (NYB) on Wednesday posted a 10% jump in second-quarter profits driven by robust refinancing activity on multifamily loans and strong prepayment penalty income.

Black and Latino borrowers received government-backed loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs significantly more often than white borrowers, raising concerns about redlining, a new study has found.

SunTrust, Huntington, First Horizon and TCF would suffer the biggest drops in Tier 1 common equity under proposed guidelines, unless they change their mix of assets.

Umpqua executives were scratching their heads Friday over the sudden drop in the company's stock price following what appeared to be a strong earnings report this week. TCF, PacWest and Associated also saw slides.

A proposal by San Bernardino County to use eminent domain to take control of underwater mortgages would hurt government-sponsored entities Fannie Mae, Freddie Mac and the Federal Home Loan Banks. It would also hurt plans to reduce the government's role in housing.

Bank of America (BAC) swung to a profit in the second quarter largely by slashing expenses and releasing reserves, but the nation's second-largest bank remains hobbled by continued repurchase requests on soured loans.

The city says the bank's inaction has blighted neighborhoods, but U.S. Bank insists it is suing the wrong party.

The first surprise was learning that billionaire Facebook founder Mark Zuckerberg even has a mortgage. The second was finding out that he pays an interest rate of just 1.05%.

Banks are worried that the Federal Deposit Insurance Corp. is placing too much emphasis on the stressful years of the financial crisis in determining lenders' concentration of high-risk loans.

Three California local governments may use their eminent domain powers to seize mortgages and restructure them to help distressed borrowers stay in their homes — much to the dismay of investors who hold the mortgages.

California lawmakers on Monday passed a package of foreclosure prevention bills that will slow foreclosures, impose stricter rules on mortgage servicers and potentially raise the cost of home loans.

In a last-minute reversal, David H. Stevens, the president and chief executive of the Mortgage Bankers Association, will remain at the trade group rather than departing to run SunTrust Mortgage, as he announced plans to do a month ago.

The Federal Housing Administration says April foreclosure statistics from Lender Processing Services were inaccurate.

Robert Maddox, who negotiated the $25 billion national mortgage settlement on behalf of Ally Financial, insists that the penalty far exceeds the damage done to borrowers.

Citigroup (NYSE: C) announced two programs Thursday aimed at helping current and former members of the military with their mortgages

Banks and government agencies face several problems with their plans to rent out their backlog of foreclosed homes, especially if they try to securitize those rentals, according to Morningstar Credit Ratings.

Some analysts say the government-sponsored enterprises are sending a bold signal to banks that elevated buyback demands will continue and may peak this year.

The percentage of delinquent mortgages has fallen to the lowest level in four years due primarily to the strengthening economy, officials with the Office of the Comptroller of the Currency said Wednesday.

Regions Financial is trying to make its products easier for customers to understand, in the latest example of a bank simplifying its disclosures.