Loans

BofA's shrunken mortgage business growing a bit, CFO says

2013-06-12 12:19:00

Having slashed away much of its troubled mortgage business, Bank of America Corp. is now growing the what remains, the company's chief financial officer says.� CFO Bruce Thompson told analysts that Bank of America, once the nation's largest mortgage...

Assembly passes bill to help veterans

2013-05-29 15:58:00

SACRAMENTO — The California Assembly took a major step Wednesday to make more funding available to help troubled and homeless veterans. The proposal, by Assembly Speaker John A. P�rez (D-Los Angeles), would shift $600 million in bond authority...

FHA could stop charging extra interest on mortgage payoffs

2013-06-07 19:35:00

WASHINGTON — Pressured by consumer protection regulators, the Federal Housing Administration is expected to end one of its most controversial practices: charging borrowers interest on their home mortgages for weeks after they've paid off the...

Obama, Congress reenact battle over student loan rates

2013-05-31 09:40:00

WASHINGTON -- President Obama complained about the looming interest rate hike on student loans in a Rose Garden event Friday morning and urged Americans to call, write and tweet their Republican members of Congress to do something about it. But on...

California lawmakers OK a dozen gun-control measures

2013-05-29 22:12:00

SACRAMENTO — California lawmakers Wednesday advanced a dozen gun-control measures, including background checks for ammunition buyers, and gave early approval to a tax penalty on the Boy Scouts for barring openly gay leaders. Legislators also voted...

Federal regulators ease definition of qualified mortgage

2013-05-31 00:00:00

Federal regulators have eased the definition of a qualified mortgage — a presumably safe and affordable home loan — to enable small banks and credit unions to help more marginal borrowers. The changes, announced this week, help fine-tune...

Are millennials a window of opportunity or a closed door for home builders?

2013-06-07 05:00:00

Builders are eyeing the next wave of potential home buyers — the so-called millennials — but whether this rising generation will embrace big mortgage debt remains an open question. These 95 million people ages 10 to 32 outnumber their baby-...

Sallie Mae announces plans to split in two and names new CEO

2013-05-30 00:00:00

Student loan giant Sallie Mae said Wednesday that it plans to split into two separate, publicly traded companies and that it has named John Remondi chief executive of the current company, formally known as SLM Corp. Remondi will succeed Albert Lord,...

Freddie Mac: 30-year mortgage rate hits 3.81%, highest in a year

2013-05-30 08:50:00

Mortgage rates shot sharply higher this week in reaction to the improving economy, with Freddie Mac’s survey reporting that the average for a 30-year fixed loan rose from 3.59% last week to 3.81% -- the highest in more than a year. The survey, out...

Kickbacks as 'a natural part of business' at Fannie Mae alleged

2013-05-27 19:00:00

Before dawn one hazy March day in L.A., Armando Granillo pulled his SUV into a Starbucks near MacArthur Park, where he planned to pick up an envelope full of cash from an Arizona real estate broker, federal investigators say. Granillo, a foreclosure...

Local lenders say U.S. 'qualified mortgage' rules go too far

2013-05-27 18:13:00

Even as federal regulators recently cracked down on loose mortgage lending, they hoped that credit unions and community banks would serve as a haven for marginal borrowers. Such neighborhood institutions know their customers, the theory goes, so they...

BofA cuts 2 million customers loose

2013-05-14 00:00:00

It's long been a basic tenet of the business world: You give us more business, we'll reward your loyalty with better deals. That's how cable companies operate with their service packages. That's how phone companies work. And until now, that's pretty...

President Obama speaks on student loans in the Rose Garden of the White House.

2013-05-31 00:00:00

Young workers with student loans are less likely to take out mortgages or get car loans, according to the Federal Reserve Bank of New York.

2013-04-18 12:18:43

Tuition.io makes graphs of the user's student loans.

2013-03-28 20:55:08