Latest Headlines
The recovery in the U.S. housing market could run out of steam if it depends on investors to carry it along, an economic report explains.
A Department of Justice settlement with JPMorgan Chase could result in a fine of more than $11 billion, sources told The Wall Street Journal.
Home prices rose from June to July, a government agency and a private firm reported Tuesday.
Easy money is a painkiller, not a cure.
Authorities are prepared to fine U.S. bank JPMorgan Chase more than $700 million in response to $6 billion in trading losses, sources told The New York Times.
The U.S. economy grew at an annual rate of 2.5 percent in the second quarter of 2013, the Commerce Department said Thursday in the second of three estimates.
Rising prices drove the U.S. Federal Housing Finance Agency House Price Index up 2.1 percent in the second quarter of 2013, its eighth straight quarterly gain.
The former U.S. government-sponsored financial firm known as Sallie Mae said regulators would soon accuse the firm with overcharging for student loans.
U.S. President Barack Obama wants private banks to use depositor and investor funds to write 30-year, fixed-rate mortgages at affordable rates. He won't admit those goals and others imposed by Congress require the federal government to guarantee mortgages and banks against failure.
Fannie Mae said Thursday it turned a $10.1 billion profit and would pay that plus $100 million to the U.S. Treasury, shrinking its housing crisis bailout debt.
