Mortgage deal faces setbacks, again (Reuters) Reuters - A multi-state mortgage settlement in the works for more than a year will likely be pushed back again as dissident U.S. states continue to press specific concerns and ignore a Monday deadline to decide whether they will sign it. Housing plan helps nearly 1 million homeowners (Reuters)
Fidelity Nat'l to buy O'Charley's restaurant chain (AP) AP - A title insurance and mortgage services company that already owns a stake in the Bakers Square restaurant chain is buying the restaurant operator O'Charley's Inc., the companies announced Monday. New York sues banks over electronic mortgage system (Reuters) Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices. NY's Schneiderman sues banks in foreclosure effort (AP) AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures. Goldman to face mortgage debt class-action lawsuit (Reuters) Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender. If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool) The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century." Analysis: Obstacles high for more mortgage prosecutions (Reuters) Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders. Rate on 30-year mortgage falls to record 3.87 pct. (AP) AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed. You can save this news page by submitting it to your favorite sites:
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Reuters - Nearly 1 million U.S. homeowners have won permanent reductions on mortgage payments since the Obama administration launched its foreclosure prevention program in 2009, the U.S. Treasury said on Monday, only a fraction of the total it aimed to reach.
