U.S. government housing finance authorities are pressing JPMorgan Chase & Co for at least $6 billion to settle lawsuits over bonds backed by subprime mortgages, according to a person familiar with the matter. The company is arguing that it should pay less to settle the claims by the U.S. Federal […]
Tag: Mortgage
Government mortgage fraud lawsuit against BofA headed to trial
A U.S. government lawsuit accusing Bank of America Corp (BAC.N) of fraud in the sale of billions of dollars of toxic mortgage loans to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) is on track to go to trial next month after a judge rejected the bank’s bid to dismiss the […]
U.S. new home sales fall sharply; house prices rise
Sales of new single-family homes in the United States fell sharply in July to their lowest level in nine months, casting a shadow over the country’s housing recovery. Sales dropped 13.4 percent to an annual rate of 394,000 units, the Commerce Department said on Friday. While government housing data is […]
