Looking back, the housing industry is totally Scrooged

Looking back, the housing industry is totally Scrooged

Here's the HousingWire/Star Wars Christmas 2014 special

FHA loans could face "tidal wave of defaults"

All indices hit series high

Another mortgage lender launches 3% down loan

Falls in line with FHFA
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Items Tagged with 'Citigroup'

ARTICLES

Reuters: DOJ collects $24.7 billion in settlements in 2014

JPMorgan Chase & Co., Citigroup, BofA among biggest settlements
Levi Shultz
The U.S. Department of Justice reported a total of $24.7 billion in settlements for fraud and other cases in 2014. Approximately $11 billion came from settlements with JPMorgan Chase & Co. and Citigroup, along with $16.65 from Bank of America.
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Citi 3Q earnings revised down

Adds in $600M increase in legal costs
Brena Swanson
Citigroup lowered its third-quarter net income due to a $600 million increase in legal accruals.
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Massive subprime mortgage bond portfolio ready to trade

Interested in subprime bonds? More than $2.4 billion is available now
Ben Lane
According to bond analytics firm Interactive Data, the $4.6 billion portfolio of vintage debt is the largest of 2014, surpassing the January liquidation of the ING US portfolio from the Dutch State Treasury Agency, which checked in at $4.3 billion.
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Citigroup 3Q revenue jumps to $19.6B

Beats analyst expectations
Brena Swanson
Citigroup reported an increase in its third-quarter earnings, with its revenue beating analyst expectations and rising to $19.6 billion.
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Earnings preview: Wells Fargo, JPMorgan, Citi kick-start earnings Tuesday

So far, housing remains lukewarm in 3Q
Brena Swanson
Tuesday marks the next round of bank earnings, with Citigroup, Wells Fargo and JPMorgan Chase once again paving the way for the housing and financial markets. Here’s where the market is predicting earnings will go.
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$1 billion in subprime mortgage bonds just exchanged hands

Package featured bonds from Countrywide, Bear Stearns, others
Ben Lane
Per Interactive Data, $885 million of the $998 million in available debt was subprime mortgages issed by Countrywide and others. The remaining debt was made up of $73 million in bonds backed Alt-A fixed-rate mortgages and $40 million in Alt-A adjustable-rate mortgages.
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Are the days of giant mortgage cases over?

Holder’s departures signals end of housing era
Brena Swanson
Good news for banks: Attorney General Eric Holder’s departure is the beginning of the end of the Justice Department’s push to hold big banks accountable for their pre-crisis conduct.
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Large lenders the first to fully open the credit box?

Fannie Mae: As competition increases, standards decrease
Brena Swanson
“Larger lenders are expecting to tap into the non-GSE-eligible and government loan market to maintain or grow their market share and offset their anticipated slowing mortgage demand as the peak spring/summer selling seasons are coming to an end,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
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Citigroup and Bank of America loosen standards for struggling borrowers

Offer mortgages with discounted rates
Brena Swanson
Both of the mega banks will start to offer mortgages at discounted interest rates as part of their new efforts to help borrowers with low incomes or subprime-credit histories.
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Tony West leaving DOJ after negotiating massive RMBS settlements

Led DOJ’s toxic mortgage task force
Ben Lane
In his role, he headed the DOJ’s residential mortgage-backed security task force that in the past several months has secured massive settlements with Citigroup, JPMorgan Chase, Bank of America and others over the banks’ toxic mortgage lending practices that led to the collapse of the housing economy.
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