Personal Finance News

US housing starts rise modestly to start new year (AP)

WASHINGTON – Construction of single-family homes cooled off slightly in January after surging in the final month last year. But a rise in permits suggests builders are growing more confident that more buyers are ready to come off the sidelines. The Commerce Department said Thursday that builders broke ground on a seasonally adjusted annual...
Read More »

Fewer Americans at risk of foreclosure in Q4. (AP)

WASHINGTON – The number of Americans at risk of foreclosure is declining, as more homeowners climb out of debt and find steady work. The Mortgage Bankers Association said Thursday that 7.58 percent of homeowners missed at least one mortgage payment in the October-December quarter. In a normal market, the percentage of delinquent borrowers is...
Read More »

Appeals court weighs next steps in BofA mortgage deal (Reuters)

NEW YORK (Reuters) – Legal wrangling over the proposed $8.5 billion settlement of some of Bank of America Corp’s (BAC.N) mortgage-backed securities liability could drag through the courts for years, a top appeals court judge said during arguments in the case. The 2nd U.S. Court of Appeals in New York is weighing whether last...
Read More »

Citigroup pays $158M to settle mortgage fraud (AP)

NEW YORK – Citigroup has agreed to pay $158.3 million to settle claims that its mortgage unit duped the U.S. government into insuring risky mortgage loans for over six years. The government said Wednesday that Citi Mortgage certified 30,000 mortgages for insurance provided by the Federal Housing Agency and submitted many certifications that were...
Read More »

Citigroup pays $158 million in mortgage fraud pact (Reuters)

(Reuters) – Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government into insuring thousands of risky home loans made by its CitiMortgage unit. Wednesday’s settlement resolves claims under the federal False Claims Act against the third-largest U.S. bank, and arose from a “whistleblower” lawsuit brought...
Read More »

Citigroup to pay $158.3 million in mortgage accord (Reuters)

(Reuters) – Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government with regard to some home loans extended by its CitiMortgage unit. The settlement resolves claims under the federal False Claims Act, and concerned more than six years of misconduct, according to U.S. Attorney Preet...
Read More »

NM Senate approves corporate income tax change (AP)

SANTA FE, N.M. – The Senate has approved a proposal to lower New Mexico’s corporate income tax rate but change the tax treatment of large corporations with income from operations nationwide. The measure passed the Senate on a 28-13 vote on Monday and was sent to the House. Sen. Peter Wirth, D-Santa Fe, says...
Read More »