The exterior of an Oakland Wells Fargo Bank branch. (Justin Sullivan/Getty Images)

Feds Sue Wells Fargo Over FHA-Insured Loan Defaults

The federal government has sued Wells Fargo Bank in New York, blaming the nation’s largest originator of home mortgages for thousands of loan defaults over the last decade.


Nancy Pelosi Makes Statement On The Passing Of Adam Yauch

Pelosi Blames House Republicans For Postal Service Default

As the U.S. Postal Service was bracing for its first default on billion dollar loan payments due to the Treasury, Minority House Leader Nancy Pelosi placed the blame on inaction by the GOP.


house mortgage rate, foreclosure

California Mortgage Defaults Hit 13-Month High

The real estate tracking firm RealtyTrac recorded a 17 percent increase in default notices in California during October, a sign the housing market has yet to hit bottom despite a marked improvement from 2010.


real estate, housing, home, property

California-Based Lawyers Accused Of Loan Lawsuit Scam

California prosecutors have filed a major lawsuit against several lawyers and call center operators for allegedly running a nationwide scam to dupe desperate homeowners into paying thousands of dollars to join dubious lawsuits against the country’s largest banks.

KPIX 5 | CBS San Francisco–08/18/2011

CA high speed rail

Budget Deal Could Jeopardize Bay Area High Speed Rail

Funding for high speed rail, which remains uncertain, could be further jeopardized by the budget deal that avoided default.


The National Debt Clock is seen on the corner of Sixth Avenue and West 44th Street on August 1, 2011 in New York City. (Andrew Burton/Getty Images)

SJSU Professor Says Default Preferable To Debt Deal

San Jose State Economics Professor Jeff Hummel has said it would have been a good thing if the government had defaulted on its debt.

KPIX 5 | CBS San Francisco–08/01/2011

real estate, housing, home, property

California Mortgage Default Notices Drop To 4-Year Low

Mortgage default notices in California have dropped in the second quarter of 2011 to their lowest level in four years.

CBS San Francisco–07/19/2011


Foreclosure Process Slowing Down In Silicon Valley

The latest numbers show that fewer homes in Silicon Valley are being foreclosed on, but that may not necessarily be a good thing.


Wells Fargo Bank in San Francisco

Wells Fargo 4th Quarter Profit Jumps, Aided By Lower Reserves

Wells Fargo & Co., one of the largest lenders to consumers among U.S. banks, on Wednesday said its fourth-quarter profit shot up, as its customers payment habits improved and it was able to lower the amount of reserves set aside to cover souring loans.

CBS San Francisco–01/19/2011

Wells Fargo Bank in San Francisco

Wells Fargo Erred In Thousands Of Foreclosures

Wells Fargo admitted Wednesday it made mistakes in the paperwork for thousands of foreclosure cases and promised to fix them.

CBS San Francisco–10/27/2010