Hub News

Goldman Sachs Facing $120 Million Suit Over Mortgage Securities

The New York Court of Appeals decided 5-2 on Thursday that a $120 million suit facing Goldman Sachs should move forward. Goldman Sachs was hit with the suit by ACA Financial Guaranty Corp., which claims the financial corp “lied about

House Flippers Seeing Record Returns

Good news for house flippers and anyone looking to get in on the action, as there are huge profits to be had from the undertaking. According to CNBC, only four percent of home sales in the first quarter of this

Mortgage Refinance Applications on the Decline as New Home Loans Rise

Although the number of mortgage refinance applications fell 4.6 percent last week, home loan requests are on the rise. “That’s a good sign for the housing industry,” CNBC explained in a new video report on Wednesday. “Requests for new home

Los Angeles Suing Wells Fargo for Fraud

The city of Los Angeles is suing Wells Fargo for allegedly committing fraud and taking advantage of its customers, CNBC is reporting. According to the news site, the court papers filed by the LA city attorney suggest that the bank

Warren Buffett Defends Clayton Homes Against Negative Claims

On Saturday, Warren Buffett defended Clayton Homes – Berkshire Hathaway’s lending unit – from a series of negative declarations, including the accusation that it had partaken in some predatory lending. “We are not forcing loans on anybody. If they had

Census Analysis Finds Many Americans Spend Half or More of Income on Rent

More than one in four renters has to spend at least 50 percent of their total household income to pay for housing and utilities, according a new analysis of Census data. That number is up 26 percent from 2007, shooting

New Federal Rules Make It Tougher to Get a Reverse Mortgage

Thanks to a set of new federal rules doled out earlier this week, it has now become a bit more difficult to obtain a reverse mortgage on your home. The good news, however, is that for those who do get

Credit Requirements Loosening, Mortgages Becoming Easier to Obtain

Potential homebuyers are finally finding it easier to obtain a mortgage after years of needing to have nearly pristine credit. The initial crackdown came in the wake of the housing market crash, as lenders were hit with lawsuits and faced

Report: Pending Home Sales Highest Since June 2013

According to a new report released on Tuesday by the National Association of Realtors (NAR), the number of pending home sales in March was the highest it’s been since June 2013. The data released by the NAR showed the Pending

Rising Cost of New Homes Explained Simply: They’re Much Bigger

The cost of newly constructed homes in the U.S. has risen drastically over the last several years, and it’s no wonder; because as the Wall Street Journal points out, the driver is simple: houses are getting bigger. According to CoreLogic,

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