News

FHA to Shore Up Cash in Bid to Stave Off Bailout

The Federal Housing Administration, facing a $16.3 billion deficit, will increase mortgage fees next year and take other steps in an effort to avoid a taxpayer bailout, the Obama administration said on Friday.

New York Warns Wells Fargo About Sandy Mortgage Delays

New York Attorney General Eric Schneiderman on Friday warned Wells Fargo & Co that the U.S. bank's policy to delay mortgage modification decisions in states affected by Hurricane Sandy likely violates a national mortgage settlement.

Bernanke: Housing Not Yet Out of the Woods

The improving housing market is "far from being out of the woods," Federal Reserve Chairman Ben Bernanke said on Thursday, arguing that overly tight lending standards are part of the problem.