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 while saving banks over $2 billion. 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. 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. Homebuilders see stable housing market ahead (AP) AP - The CEOs of some of the nation's biggest homebuilding companies said Thursday that they feel the housing market has stabilized. 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. Woman who stole mortgage money and gambled it away, gets prison (Reuters) Reuters - A former foreclosure counselor who gambled away more than $300,000 she stole from her upstate New York clients was sentenced on Thursday to six years in federal prison. Illinois accuses mortgage firm of robosigning (Reuters) Reuters - The attorney general in Illinois on Thursday sued a mortgage document firm and said it filed "faulty" documents with local governments in a rush to process mortgages and foreclosures. Mortgage rates for the past 52 weeks, at a glance (AP) AP - Mortgage rates for the past 52 weeks, at a glance You can save this news page by submitting it to your favorite sites:
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AP - A confident Mitt Romney accused President Barack Obama of failing to do enough to create jobs as he campaigned Friday ahead of GOP presidential caucuses this weekend in a state with sky-high unemployment and foreclosure rates. Newt Gingrich, who is fighting for a respectable showing here, rolled out a fresh line of criticism by comparing the f......
