Commercial real estate lender Capmark Financial Group confirmed weekend reports of its Chapter 11 bankruptcy filing as part of a reorganization after posting a $1.6bn second-quarter loss. The filing is part of a larger restructuring effort at Capmar...

The House Ways and Means Oversight Subcommittee will hold a hearing Thursday on the administration of the first-time homebuyer tax credit. Specifically, the subcommittee will review the circumstances surrounding the Internal Revenue Service (IRS)’...

Mortgage application volume continued to trend upward from last week, rising 7.5% in the week ending August 21 at the same time household activity in the application process jumped 12.1%. Total mortgage application volume rose 34.1% on an unadjusted...

As some of the major US banks awaited approval to repay government aid through the Troubled Asset Relief Program (TARP), one regulatory oversight panel is pushing for another round of stress tests to account for already worsening economic conditions.

Mortgage giant Freddie Mac named finance industry veteran Charles Haldeman Jr. as CEO and board of directors member more than four months after its former CEO, David Moffett, resigned.

Sales of new, single-family homes were at a seasonally adjusted rate of 430,000 in October, according to a joint release by the Census Bureau and the Department of Housing and Urban Development (HUD). That’s an increase of 6.2% from September’s...

Birmingham-based Superior Bank said it will double its mortgage banking operation, with the addition of 60 employees to its origination business unit. The new staff will primarily serve Alabama borrowers at its branch locations, the bank said....

Bond insurer Ambac Financial Group (ABK: 0.80 0.00%) senior vice president and chief financial officer Sean Leonard resigned this week after the company warned it may file for bankruptcy. Until a replacement is named, his department heads will report...

Commercial real estate lender Capmark Financial Group received approval Tuesday from the US Bankruptcy Court to sell its North American servicing and mortgage banking business to Berkadia Commercial Mortgage. Capmark initially proposed to the...

The Federal Trade Commission (FTC) announced six new lawsuits brought against companies accused of running foreclosure rescue and loan modification scams. The suits are the latest action federal and state authorities are taking in “Operation Stolen...