Rep. Barney Frank, D-Mass., will announce today that he will not seek re-election next year, capping a 32-year career in Congress, a spokesman said Monday.
The PMI Group Inc., Walnut Creek, Calif., has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
Only one county in the country-Fairfield, Conn.-will have a higher conforming loan limit in 2012. The ceiling in the other 3,200-plus counties will remain unchanged.
The average weekly rate for a 30-year loan slipped slightly below 4% and rates for adjustable-rate mortgages averaged new record lows in Freddie Mac’s survey Wednesday.
Single-family originations by commercial banks and savings institutions jumped almost 17% in the third quarter from the prior period, but compared to a year ago production is down 23%, according to new figures released by the FDIC.
All of the 12 national banks under regulatory orders to correct their servicing and foreclosure procedures are making progress in that regard, according to an interim report released Tuesday by the Comptroller of the Currency.
Bank of America Corp.’s board has been told the company could face a public enforcement action if banking regulators aren’t satisfied with recent steps taken to strengthen the bank, according to a report by Dow Jones.
