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Tag Archives: Bank of America

JPMorgan paying $5.1B in Fannie, Freddie deal

WASHINGTON — JPMorgan Chase has agreed to pay $5.1 billion to resolve claims that it misled Fannie Mae and Freddie Mac about risky home loans and mortgage securities that it sold them before the housing market collapsed. The Federal Housing ...

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Dow average adds Goldman Sachs, Nike and Visa

The Dow Jones industrial average is dropping Bank of America, Hewlett-Packard and Alcoa, its three-lowest priced stocks, as part of a six-company shakeup of the most widely known barometer of the U.S. stock market. S&P Dow Jones Indices said Tuesday ...

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JPMorgan faces criminal probe over mortgage bonds

NEW YORK — The U.S. Justice Department is investigating JPMorgan Chase over mortgage-backed investments the bank sold in the run-up to the financial crisis. The New York-based bank said in a regulatory filing that it is responding to investigations by ...

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U.S. accuses Bank of America of civil fraud in bond sale

WASHINGTON — The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and misled investors in its sale of $850 million of mortgage bonds during 2008. The Justice Department filed a ...

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Banks fall short in helping struggling homeowners

WASHINGTON — Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation’s top mortgage servicers, according to a report released Wednesday. Such delays can plunge borrowers deeper in ...

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