MGIC Investment Corp. and Radian Group Inc. jumped in New York trading after Goldman Sachs Group Inc. recommended investors buy the shares, citing the potential for sales growth amid an improving housing market.
Wells Fargo & Co. Vice President Kurt Lofrano played a “critical role” in helping the bank hide fraudulent home loans that cost the U.S. $189 million, the U.S. government claimed in a filing in Manhattan federal court.
Ginnie Mae, the U.S. government- owned corporation that guarantees almost $1.5 trillion of mortgage bonds, is no longer actively considering merging its two types of securities, President Ted Tozer said.
The U.S. Department of Housing and Urban Development for the first time failed to sell some of the soured mortgages it’s auctioning off in the wake of the housing crisis, according to four people with knowledge of the results.
The Federal Housing Administration has reached a “tipping point” in its mission of providing low- cost protection for homebuyers while trying to keep its insurance fund liquid, Commissioner Carol Galante said today.
Regions Financial Corp., Alabama’s biggest bank, received a subpoena from the U.S. Department of Housing and Urban Development tied to the origination of mortgages backed by the Federal Housing Administration.
The Federal Housing Administration will take a taxpayer subsidy for the first time in its 79-year history after efforts to improve its bottom line failed to offset losses on loans backed during the housing bubble, according to three people familiar with the matter.