Lending

WASHINGTON -- House Financial Services Committee Chairman Barney Frank (D-Mass.) has sent a letter to several of the nation's largest mortgage servicers urging them to "engage in an intense effort" to modify troubled mortgages.

WASHINGTON -- Accredited Home Lenders has dropped its lawsuit against the Illinois sheriff who last Wednesday published an op-ed in the Chicago Sun-Times stating that his office would no longer do evictions because banks were not determining who was living in buildings going into foreclosure even though such due diligence...

WASHINGTON -- The Bush administration announced today it will buy $250 billion worth of shares in the nation's leading bank companies.

HARRISBURG, Pa. -- The Pennsylvania Credit Union Association is aiming to connect buyers and sellers of member business loan participations through its new creation, Loan Trader.

PHOENIX -- Joined by a coalition of consumer groups, the Arizona Credit Union System said this week it is stepping up its lobbying activities to defeat a well-financed campaign by payday lenders to adopt enabling legislation on the Nov. 4 ballot.

MCCLEAN, Va. -- Freddie Mac has ordered servicers to suspend foreclosures on properties with Freddie Mac-owned mortgages in areas declared a disaster because of damage caused by Hurricane Ike in Texas and Louisiana.