Personal Finance News

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke's personal finances recovered in 2009, disclosure forms released by the central bank on Friday showed. Full Story »

NEW YORK (Reuters) - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military. Full Story »

The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders. Full Story »

NEW YORK (Reuters) - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday. Full Story »

NEW YORK - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die. Full Story »

NEW YORK (Reuters) - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad. Full Story »

WASHINGTON - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges. Full Story »

WALNUT CREEK, Calif. - PMI Group Inc. on Thursday reported a nearly $151 million loss, narrower than a year ago but far wider than Wall Street expected. Shares of the mortgage insurer tumbled nearly 15 percent. Full Story »

WASHINGTON - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac. Full Story »

RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week. Full Story »

NEW YORK - Mortgage rates are the most affordable in decades for those who can qualify for a loan. Full Story »

WASHINGTON (AFP) - US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said. Full Story »

NEW YORK - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks. Full Story »

WASHINGTON - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble. Full Story »

WASHINGTON - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified. Full Story »

NEW YORK (Reuters) - Goldman Sachs Group Inc and Citigroup Inc will sell a $788.5 million commercial mortgage-backed security, according to a term sheet sent to investors, in the largest deal of its kind since volume began crawling back after the financial crisis. Full Story »

MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association. Full Story »

Right now, you can't go through a list of news articles for Research In Motion (Nasdaq: RIMM - News) without seeing gloomy headlines such as "Why RIM is a Risky Investment" (TheStreet.com) and "BlackBerry's Era May Be Ending" (The New York Times). Fears of market share declines because of Apple's (Nasdaq: AAPL - News) iPhone and Google's (Nasdaq: GOOG - News) Android platform clearly have investors on edge -- and an underwhelming earnings report last quarter didn't do much to calm their nerves. Full Story »