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Lenders will be required to ensure that borrowers can afford monthly payments and that they can refinance out of ARMs before they reset.
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Founder of once high-flying homebuilder would be out, and the company would change its name, under a plan filed with the U.S. Bankruptcy Court.
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Federal Funds Rate to stay at 5.25%, perhaps for some time to come.
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Five financial associations petition House and Senate committees working on mortgage regulatory reform to tred lightly or risk upending an already unstable market.
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Revenues decline 41% as sales drop 36% and prices fall 8% in a spring selling season that wasn't.
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Company says Michael Rand attempted to destroy documents related to a federal investigation of its mortgage lending unit.
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Mortgage Bankers Association says its applications index fell 3.9% last week as rates on 30-year fixed loans stood at 6.6%.
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Commerce department report surprises financial markets and confirms the slowdown in the economy.
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Prices resume their upward swing as inventory reaches a 7.1-month supply.
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Revenues down 37%, prices down 7%, deliveries down 28%, orders down 31% as company suffers the results of the housing downturn.
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Company cites poor market conditions and unfavorable demographic trends in deciding to cease operations once current communities are finished.
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Federal Reserve policymakers gather this week amid growingsigns the U.S. economy is hitting a sweet spot that will allow them to leaveinterest rates untouched for months.
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Sales drop 0.3%, prices fall 2.1% and inventory soars to an 8.9-month supply.
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A trio of well-regarded economists has found that household income has become more subject to wide swings, says a report from the Brookings Institution.
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"We, like the U.S. authorities, expect a favorable outcome for U.S growth,"said John Lipsky, the IMF's leading deputy director, presenting the annual snapshot of the U.S. economy provided for under the rules of the 185-nation lending institution.
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Center for Responsible Lending says 2.2 million families will lose their homes.
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J.P. Morgan's Michael Rehaut has both companies swinging to 2nd-QTR losses due to land charges and market conditions.
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The board of the world's largest home improvement store chain approved the sale of Home Depot Supply to Bain Capital Partners, The Carlyle Group and Clayton, Dubilier & Rice. The sale is expected to close later this year.
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Home improvement retailer reportedly makes a deal with three buyout firms for wholesale building supply unit.
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Single-family housing starts and permits decline, but completions inch upward.