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Personal Finance News
Bernanke recouped personal losses in 2009
(Reuters)
30 Jul 2010 at 2:25pm
Reuters - Federal Reserve Chairman Ben Bernanke's personal finances recovered in 2009, disclosure forms released by the central bank on Friday showed.
Cuomo widens insurer probe with 6 more subpoenas
(Reuters)
30 Jul 2010 at 11:32am
Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.
Reverse Mortgages Aren't Catching On
(U.S. News & World Report)
30 Jul 2010 at 8:51am
U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
Fannie Mae portfolio grows, delinquencies decline
(Reuters)
30 Jul 2010 at 7:22am
Reuters - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday.
NY AG announces probe of life insurance industry
(AP)
29 Jul 2010 at 8:45pm
AP - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.
MetLife posts Q2 earnings of $1.5 billion, beating Street
(Reuters)
29 Jul 2010 at 3:43pm
Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
Florida mortgage firm settles federal charges
(AP)
29 Jul 2010 at 3:30pm
AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
PMI Group narrows loss, but shares tumble
(AP)
29 Jul 2010 at 3:29pm
AP - PMI Group Inc. on Thursday reported a nearly $151 million loss, narrower than a year ago but far wider than Wall Street expected. Shares of the mortgage insurer tumbled nearly 15 percent.
Congress to try to recoup Fannie, Freddie costs
(AP)
29 Jul 2010 at 3:04pm
AP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Summary Box: Mortgage rates hit low of 4.54 pct.
(AP)
29 Jul 2010 at 1:25pm
AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.
Mortgage rates hit low of 4.54 percent
(AP)
29 Jul 2010 at 1:09pm
AP - Mortgage rates are the most affordable in decades for those who can qualify for a loan.
Citigroup settles charges over misleading investors
(AFP)
29 Jul 2010 at 12:00pm
AFP - US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said.
(AP)
29 Jul 2010 at 7:01am
AP - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks.
Mortgage lenders must register in database
(AP)
28 Jul 2010 at 2:52pm
AP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
Treasury says latest mortgage-aid report flawed
(AP)
28 Jul 2010 at 1:46pm
AP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.
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