The Securities and Exchange Commission (SEC) is ramping up a probe of a second complex mortgage deal by Goldman Sachs. SEC accusations that Goldman defrauded investors in Abacus, a synthetic collateralized debt obligation designed in part by mortgage-shorter John Paulson, have already thrust the bank into a legal quagmire.
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The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.
Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.