SunTrust has agreed to pay $968 million as part of a settlement with the government over charges that it failed to comply with standards required for federally backed mortgages.
The settlement between SunTrust Mortgage and the Justice Department and other agencies includes money for homeowners and a requirement that the company improve its procedures for mortgage loans and foreclosures.
A fifth new power supply substation has been put into service on Metro-North’s New Haven rail line. Officials say it will add redundancy to help avoid electrical outages. Governor Malloy and state transportation officials toured the New Haven Rail Yard today. It’s being upgraded and expanded over several years costing $1.15 billion dollars.
Governor Malloy Wants Answers Into Funds Owed from Teachers' Retirement Board
Hartford has the highest rate of underwater mortgages in the country, according to a new report that says communities of color are most likely to owe more on their mortgages than their homes are worth. But the city administration disputes the data on which the study is based.
Governor Dannel Malloy is being honored in Washington, D.C. for his efforts to bolster affordable housing in Connecticut. The National Low Income Housing Coalition presented Malloy with the Edward W. Brook Housing Leadership Award on Tuesday at the group’s annual Housing Leadership Awards Reception.
Hundreds of advocates for prohibiting the storage of wastewater from hydraulic fracturing, or “fracking,” as it’s called, delivered petitions with over 5,600 signatures to lawmakers at a rally on Wednesday at the LOB. Though Connecticut doesn’t have the natural resource deposits to engage in the process of digging for natural gas, many fear that companies seeking to store the waste created by the process will make their way to into Connecticut from outside the state. They want Governor Dannel Malloy and lawmakers to prohibit it.
When the Copper Beech Farm in Greenwich went on the market last spring at an asking price of $190 million dollars, it was the most expensive single-family home ever to hit the American market. Many people thought it wouldn’t close at nine figures. But it has.
Former Connecticut governor John Rowland has pleaded not guilty to federal charges. For the second time in a decade Rowland is facing political corruption charges. Just a week ago Rowland resigned from his radio talk show and late yesterday was indicted on seven counts by a federal grand jury in New Haven.
Connecticut's housing market continued to improve in January, and market-watchers said it's possible the state could see big gains in the spring selling season.
The state also saw distinct improvement in its housing market activity for the full year of 2013, with sales up six percent and prices rising 8.3 percent over the year. The numbers come from the Warren Group, a real estate data firm, and it marks the best full year results for the Connecticut market since 2005, before the market crash.
Total Mortgage Services has announced a deal with the state of Connecticut to expand its headquarters in Milford. The company said it will create 140 new jobs in the town, doubling its Connecticut workforce over five years.
Last summer, we told you the story of plans to knock down two of the biggest and oldest public housing complexes remaining in the city of Hartford. Officials at the Hartford Housing Authority hoped that developers would think big when it came to what's next.
In the past five years, 600 single-family homes have been demolished in Arlington, Va., many to make way for larger houses, according to a preservation group. One architectural firm is so determined to save one 1920s Sears kit house from demolition, it's giving the house away for free. But there's a catch: the buyer would need to pay to move it to a new location.
Connecticut officials are campaigning for the extension of a federal tax provision that expired at the end of last year. It's the tax relief provided for distressed families that have to sell their homes at a loss, or who go through a foreclosure.
“Invisible” is often a term used for homeless youth who fall through the cracks, who lack support and resources. Often, these young people are from minority groups, or are LGBT. Many come out of the foster or juvenile justice system. Fifty percent of them do not have a high school diploma.
It’s a sad story, and one that is hard to quantify, because there are few hard numbers on how many young people are on the streets.
Frequent WNPR guest and former Hartford Courant columnist Susan Campbell rode along with the Hartford Homeless Outreach Team early on Thursday morning. She works for Partnership for Strong Communities, which is working to end homelessness.
Originally published on Tue November 19, 2013 5:38 pm
In an agreement settling many U.S. claims over its sale of troubled mortgages, JPMorgan Chase will pay a record $13 billion, in a deal announced by the Justice Department Tuesday. The plan includes a $4 billion payment for consumer relief, along with a payment to investors of more than $6 billion and a large fine.
The latest updates on this story are at the bottom of this post. We've also added a few key points to the main post.
Originally published on Mon November 18, 2013 8:45 pm
JPMorgan Chase & Co. will pay $4 billion to consumers who were hurt by faulty mortgage underwriting, part of a larger $13 billion deal to settle the bank's liability in the collapse of toxic securities during the housing crisis.
There are two office buildings in downtown Hartford that have long been vacant. Now, developers are about to buy them and turn them into something the city's core desperately needs: housing.
Hartford's recent wave of downtown investment has yielded a few lessons. One is that the city needs more rental housing downtown. More housing brings more people, and more people are what's needed to make a healthy downtown tick.
The physical damage from Typhoon Haiyan in the Philippines is catastrophic. Hundreds of thousands of people are now homeless.
Soon, though, people will start to rebuild, as they have after similar natural disasters.
How they do it, and where, is increasingly important in places like the Philippines. The island nation lies in a sort of "typhoon alley," and with climate change and rising sea levels, there are more storms in store.
Connecticut saw a boost in home sales in September. According to the Warren Group, a Boston-based real estate data firm, 2,326 single family homes sold in the state in the month. That’s up 21.4 percent from September of 2012.
The state will establish a loan fund for shoreline residents who want to raise their homes out of the flood zone. Thousands of shoreline homes and businesses were damaged or destroyed by flooding just one year ago, during Superstorm Sandy. And for many, that was a second time around, after Tropical Storm Irene the year before.