JPMorgan has agreed to a $13 billion settlement with the US government to settle charges that the bank overstated the quality of mortgages it was selling to investors in the run-up to the financial crisis.
The Department of Justic
The head of the UAE Banks Federation has called for sanctions to be introduced to back up the country's new mortgage law, including suspending banks from offering real estate products.
The country is bringing in new regulation
High levels of home ownership are strongly linked to subsequent rises in unemployment because labour mobility becomes reduced, according to new research.
Using data going back to 1950 across all U.S. states except Alaska and Hawai
The UAE Central Bank today issued new property mortgage lending rules for various categories of buyers.
For UAE nationals seeking a loan for the first property, the loan eligibility will be a maximum of 80 per cent for properties
Dubai private equity firm Abraaj Group has acquired a majority stake in Ghana Home Loans, the leading provider of residential mortgages in the West African state, the company said in a statement on Monday.
The acquisition is the l
Dubai Islamic Bank has settled 4 billion dirhams ($1.09 billion) of liabilities from mortgage subsidiary Tamweel two years ahead of their maturity, the bank said on Thursday.
This amounts to all of Dubai Islamic's bilateral li
Citigroup posted a 42 per cent increase in quarterly profit, as stronger home prices reduced mortgage losses and bond trading revenue jumped, underscoring the bank's recovery since the financial crisis.
Still, storm clouds lie
Non-performing property loans in Ireland rose in the first quarter, highlighting the failure of the country's banks to tackle arrears on residential mortgage payments and raising eyebrows among policymakers.
New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America, Wells Fargo and Company and other banks violated the terms of a settlement designed to end mortgage servicing abuses.
This article appeared in the April 2013 edition of The Gulf.
If Sultan bin Nasser al Suwaidi has his way, by the end of this year it will be that little bit harder for people in the UAE to buy their own homes. The central bank