Bank of America’s Merrill to pay $132 million in SEC case over mortgages

Bank of America Corp (BAC.N) has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage securities it structured and sold. Thursday’s settlement marks the latest enforcement action against Wall Street banks over the marketing of collateralized debt […]

45 mortgage banks may not survive recapitalisation- MBAN

Indications have emerged that only 25 Primary Mortgage Institutions out of over 70 firms may survive the April recapitalisation deadline set by the Central Bank of Nigeria for the mortgage sector. The President, Mortgage Banking Association, Mr. Abimbola Olayinka, said at a press conference in Lagos on Monday that merger […]

UK home prices unexpectedly rose in December

ByAgency Reporter Monday, 3 Jan 2011 LONDON: United Kingdom house prices unexpectedly posted their first gain in seven months in December as values rebounded from declines, a report by Nationwide Building Society showed. According to Bloomberg on Friday, the average cost of a home rose by 0.4 per cent from […]