Housing

3:06pm

Sun August 18, 2013
Author Interviews

A Dystopian View Of America's 'Fallen' Suburbs

Originally published on Sun August 18, 2013 4:03 pm

iStockphoto.com

The suburbs can be a creepy place. And they are at their creepiest in Patrick Flanery's new novel, Fallen Land. Set outside an unnamed American city, this dark and complex thriller plays out in a half-built subdivision where construction ground to a halt during the housing crisis.

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1:07am

Fri August 9, 2013
Planet Money

Tourre Juror: 'We Saw Goldman As The Bigger Problem'

Originally published on Fri August 9, 2013 10:06 am

Fabrice Tourre, outside the courtroom. "We didn't feel any malice toward him," one of the jurors said.
Richard Drew AP

Beth Glover was a juror on the trial of former Goldman Sachs trader Fabrice Tourre. When the lawyers were discussing the mortgages tied to the securities at the center of the case, Glover realized that, for all intents and purposes, they were talking about her mortgage.

"When they were looking at the subprime mortgage groupings, I think I would have been in one of those," Glover told me. "I didn't have as great as FICO score at that time."

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7:48am

Thu August 8, 2013
The Two-Way

Fannie Mae Books $10.1 Billion In Second-Quarter Profits

Originally published on Thu August 8, 2013 9:05 am

Driven by a recovery in the U.S. housing market, mortgage finance giant Fannie Mae netted profits of $10.1 billion in the second quarter, its sixth-straight quarter with positive results. The company, which has operated under federal conservatorship since 2008, reported its earnings Thursday.

Fannie Mae cited "a significant increase in home prices in the quarter," which nearly doubled that of last year's second quarter.

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9:24am

Wed August 7, 2013
The Two-Way

Freddie Mac Earns $5 Billion In 3 Months; To Pay U.S. $4.4 Billion

Originally published on Wed August 7, 2013 9:54 am

Freddie Mac racked up a $5 billion profit in the second quarter, the mortgage backer said in its quarterly report Wednesday. The earnings are the second-highest in the history of Freddie Mac, which has now extended its streak of profitable quarters to seven in a row.

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1:58pm

Tue August 6, 2013
The Two-Way

U.S. Sues Bank Of America Over Mortgage-Backed Securities

Originally published on Tue August 6, 2013 2:33 pm

The Department of Justice announced Tuesday that it was suing Bank of America for allegedly lying to investors about the riskiness of about $850 million worth of mortgage-backed securities back in 2008.

According to a press release by the Justice Department, the action is part of efforts of the Obama administration's Financial Fraud Enforcement Task Force's RMBS Working Group.

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