Foreclosures fall in April amid paperwork issues

Foreclosures fall in April amid paperwork issues
The number of Americans who lost their homes to the bank fell in April as faulty paperwork continued to slow foreclosure activity, which fell to a more than three-year low, a closely watched survey said on Thursday.
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Obamas Made $1.7 Million in 2010 Amid 69 Percent Income Drop

Obamas Made $1.7 Million in 2010 Amid 69 Percent Income Drop
President Barack Obama and his wife, Michelle, reported $1.7 million in adjusted gross income last year and paid $453,770 in federal income taxes, according to tax returns released yesterday by the White House.
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House prices drop amid mortgage ‘deep freeze’

House prices drop amid mortgage ‘deep freeze’
House prices have dropped £5,000 since the beginning of the year amid the mortgage market’s own ‘deep freeze’, it has been revealed.
Read more on AFP Telegraph Finance News via Yahoo! UK & Ireland Finance

Refinancing surge helps banks amid foreclosure mess

Refinancing surge helps banks amid foreclosure mess
A rush by U.S. homeowners to refinance at near record-low interest rates marks a rare bright spot for the mortgage industry, under attack for choking the economy with shoddy loans and botched foreclosures.
Read more on Minnesota Public Radio

Bank of Virginia moves to stabilize itself amid losses

Bank of Virginia moves to stabilize itself amid losses
The loss will include write-offs for bad loans and increases to credit reserves, the Midlothian-based bank said. Frank Bell, president and chief executive officer, said yesterday that the bank is reporting the loss now to take a proactive approach.
Read more on The Nelson County Times

Mortgage Bonds Slumping Amid Concern of `Mega-Refi’ Wave: Credit Markets

Mortgage Bonds Slumping Amid Concern of `Mega-Refi’ Wave: Credit Markets
Government-backed mortgage bonds are underperforming Treasuries by the most this year, after reaching record high prices, amid concern refinancing will accelerate.
Read more on Bloomberg

AIG ‘Still Exposed’ Amid Losses From Mortgage Insurer, Lender

AIG ‘Still Exposed’ Amid Losses From Mortgage Insurer, Lender
March 4 (Bloomberg) — American International Group Inc. , the insurer bailed out after derivatives losses tied to housing, is being weighed down by unprofitable units that originate and guarantee U.S. mortgages.
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Bernanke sees low rates amid signs of weak rebound

Bernanke sees low rates amid signs of weak rebound
WASHINGTON (AP) – New signs emerged Wednesday that the economic rebound is sputtering. Sales of new homes hit a record low last month. And mortgage giant Freddie Mac signaled it will need more federal aid – and might never repay it. Against that backdrop, the government is [...]