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US homeowners get a lifeline, economists say it's not enough
Fp Archives •US homeowners who owe more than their properties are worth got new help on Monday with the government's expansion of a refinancing program in a step that could help up to 1 million borrowers.
US to sue big banks over mortgage security : report
Fp Archives •According to a report in the New York Times, the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, is expected to file suit against Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among other banks.
Freddie Mac chief executive to resign next year
Fp Archives •The head of US mortgage finance giant Freddie Mac will resign next year, the government has said, announcing changes at the top of the government-seized firm.
Ease tight credit standards to calm mortgage woes: Summers
Fp Archives •The government should push to ease tight credit standards and allow people who are current on their mortgages to refinance without paying high fees, former US Treasury secretary Lawrence Summers said.