Reuters - Directors and officers of mortgage
lender Countrywide Financial must answer shareholder
accusations of insider trading and failure to monitor lending
practices that led to the company’s collapse, a federal judge
in California has ruled, the New York Times reported.
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AP - Freddie Mac beat Wall Street’s expectations in the first quarter, but the mortgage finance company didn’t vanquish concerns about its ability to weather the housing bust.
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Investor’s Business Daily - The Mortgage Bankers Association said mortgage applications for the week ended May 9 rose 2.9% to 674.4. The group said applications rose for a 2nd week as lower interest rates sparked a 6.5% jump in refinancing activity. Applications for buying a home fell 0.7%. With Treasury yields near 2008 highs, mortgage rates are moving back up.
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Reuters - Ohio Attorney General Marc Dann,
who led investigations into companies blamed for the state’s
subprime mortgage mess, resigned under a cloud on Wednesday
after admitting to an affair with a female staff member.
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Reuters - Freddie Mac posted a
smaller-than-expected quarterly loss on Wednesday and the
second-biggest U.S. home-finance company said it would raise
capital to expand, sparking a rally in its shares.
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The resale value of home improvements in general is sliding, according to experts. In a departure from recent trends, homeowners are getting the best payback from relatively mundane improvements, such as sprucing up the exterior of their house.
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A growing number of cities and counties grappling with water shortages are turning to a solution that may be tough for some homeowners to stomach: purifying wastewater so that residents can drink it.
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Across the U.S., lenders are slashing home equity lines of credit (HELOCs). June Fletcher on what to do if your loan is put on ice.
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The latest data on the housing market shows that prices are falling at last. If you’re thinking of buying, now’s the time to look.
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Companies are disclosing sizable bills to cover real-estate losses of transferred senior officers. Qwest lost $1.8 million on its CEO’s former home.
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