Finance & Mortgage

U.S. Agency Sues JPMorgan Over Mortgage Securities

The U.S. credit union regulator sued JPMorgan Securities and Bear Stearns & Co on Monday over $3.6 billion in mortgage securities the bank allegedly sold to credit unions that collapsed because of losses from the securities.

SEC Has Examined Bank of America Mortgage Repurches

Securities regulators have made inquiries into the mortgage repurchase practices at Bank of America Corp's Countrywide unit, according to a transcript filed in a lawsuit against the bank by insurer MBIA Inc.

Bank of America CEO Moynihan: Don't be Quick to Ditch Fannie and Freddie

Bank of America Chief Executive Brian Moynihan on Friday said the taxpayer-supported mortgage giants, Fannie Mae and Freddie Mac, should not be eliminated as policymakers calibrate the right balance of government support for home buying.