A year ago, New Jersey contractor Michael Mroz’s customers were focused on saving money when renovating kitchens and baths, he said. Now, with a resurgence of home equity lending, they’re ready to pay for the best.
The Federal Housing Finance Agency could slow efforts to shrink Fannie Mae and Freddie Mac and boost aid to troubled borrowers if U.S. Representative Mel Watt is confirmed as the agency’s director early next month.
JPMorgan Chase & Co.’s record $13 billion deal to end mortgage bond probes has terms that undermine U.S. efforts to reduce taxpayer support of the market, according to BlackRock Inc., the world’s biggest money manager.
The most significant change in three decades in how the Senate approves presidential nominees could make one of the least productive Congresses even more gridlocked, endangering efforts to raise the nation’s debt ceiling and fund the government, Republicans say.
Europe’s biggest banks, led by Lloyds Banking Group Plc and Deutsche Bank AG, have racked up more than $77 billion in legal costs since the financial crisis, five times their combined profit last year.
The U.S. regulator of Fannie Mae and Freddie Mac is proceeding with plans to scale back their financing of apartment-building loans next year, shrinking what opponents call a critical support for rental housing.
The U.S. Senate changed its rules to let a simple majority confirm most presidential nominees, defying opposition from Republicans who called it the most dangerous revision of its process in more than two centuries.
The number of Americans who owe more on their mortgages than their homes are worth fell at the fastest pace on record in the third quarter as prices rose, a sign supply shortages may ease as more owners are able to sell.