Federal Housing Administration News
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Updated 31 minutes ago
The European Commission published the members and remit of a group of experts that will examine whether banks should build internal firewalls to protect taxpayers and customers when failure of one part of a lender threatens to cascade throughout the company.
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Mattel Inc. has won dismissal of an antitrust lawsuit by MGA Entertainment Inc., the toymaker that sought $1 billion in damages alleging Mattel violated antitrust laws in a dispute over Bratz dolls.
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In making my case for continued housing weakness, I’ve emphasized the negative effect of excess inventories on house sales, prices, new construction and just about every other aspect of residential real estate.
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The U.S. government should provide a tax credit to military veterans to buy foreclosed properties owned by government mortgage financiers, according to Richard Peach, a Federal Reserve Bank of New York economist.
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Citigroup Inc., which last week admitted breaking Federal Housing Administration rules and paid a fine, also violated regulations for home loans sold to Fannie Mae and Freddie Mac, according to a whistle-blower’s complaint.
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President Barack Obama said public pressure was vital in getting Congress to extend a temporary payroll tax cut for workers and urged voters to push lawmakers to act on his proposals to help struggling homeowners and raise taxes on millionaires.
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UBS AG, Switzerland’s biggest bank, sought immunity from prosecution by Canadian regulators probing a potential conspiracy to rig the price of derivatives globally, three people with knowledge of the inquiry said.
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Four years after rotten mortgages helped trigger a global financial crisis, Sherry Hunt said her Citigroup Inc. quality-control team was still finding flaws in new loans that included altered tax forms, straw buyers and borrowers who listed fictitious employers.
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UBS AG, Switzerland’s biggest bank, sought immunity from prosecution by Canadian regulators probing a potential conspiracy to rig the price of derivatives worldwide, three people with knowledge of the inquiry said.
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Citigroup Inc. agreed to pay $158 million to settle a whistle-blower’s claims that a unit of the third-biggest U.S. lender deliberately reduced oversight of its loan origination process, causing a surge in borrower defaults.
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