Bank of America agreed to pay $335 million to resolve allegations that its Countrywide unit engaged in a widespread pattern of discrimination against qualified African-American and Hispanic borrowers on home loans. The settlement with the U.S. Justice Department was filed ...

Tagged with: african american Attorney General Eric Holder Bank of America Banks borrowers countrywide department of justice discrimination home loans racial discrimination Settlement

LOS ANGELES — More U.S. homes are entering the foreclosure process, but they’re taking ever longer to get sold or repossessed by lenders. The number of U.S. homes that received a first-time default notice during the July to September quarter ...

Tagged with: Banks borrowers court foreclosure Foreclosures housing market Judges lenders mortgage

NEW YORK — The staff of the Securities and Exchange Commission is considering recommending civil legal action against the Standard & Poor’s debt ratings agency over its rating of a 2007 collateralized debt offering. Collateralized debt obligations, also known as ...

Tagged with: borrowers debt Economy mortgage securities and exchange commission standard & poor's

COLLEGE PARK — The percentage of college students in Maryland who defaulted on their federal student loans increased last year, as a tough job market for new grads put pressure on student borrowers. The percentage of borrowers in the state ...

Tagged with: baltimore city community college borrowers capital news service college park maryland student loans U.S. Department of Education Unemployment wheaton

WASHINGTON — Wells Fargo & Co. has agreed to pay $85 million to settle civil charges that it falsified loan documents and pushed borrowers toward subprime mortgages with higher interest rates during the housing boom. The fine is the largest ...

Tagged with: borrowers federal reserve mortgage washington wells fargo wells fargo & co

LOS ANGELES — The number of homes taken back by lenders in the first half of this year fell 30 percent compared with the same 2010 period, the result of delays in foreclosure processing that threaten to stall a U.S. ...

Tagged with: Banks borrowers Foreclosures homeowners house lenders RealtyTrac

WASHINGTON — The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its signature but troubled foreclosure-prevention programs. Starting Aug. 1, the Federal Housing Administration will extend the forbearance period ...

Tagged with: Barack Obama borrowers Economy federal housing administration foreclosure Foreclosures housing Unemployment

LOS ANGELES — It seemed Maria Campusano’s financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month. She soon learned that her troubles had just ...

Tagged with: Bank of America borrowers citi Foreclosures lenders

Fewer people purchased previously occupied homes in May, lowering sales to their weakest point of the year. Home sales sank 3.8 percent last month to a seasonally adjusted annual rate of 4.81 million homes, the National Association of Realtors said ...

Tagged with: borrowers Economy first-time buyers Foreclosures home sales housing market lenders Real Estate sales

NEW YORK — Citigroup’s first-quarter income fell 32 percent on lower revenue from investment banking and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up ...

Tagged with: bank Banks borrowers citi citigroup earnings factset income investment banking new york revenue vikram pandit