New York sues banks over electronic mortgage system (Reuters) Personal Finance News - Yahoo! News - Fri, 03 Feb 2012 22:54:10 GMT Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.

NY's Schneiderman sues banks in foreclosure effort (AP) Personal Finance News - Yahoo! News - Fri, 03 Feb 2012 18:35:37 GMT AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures.

Goldman to face mortgage debt class-action lawsuit (Reuters) Personal Finance News - Yahoo! News - Fri, 03 Feb 2012 17:37:51 GMT Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool) Personal Finance News - Yahoo! News - Fri, 03 Feb 2012 15:09:25 GMT The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century."

Analysis: Obstacles high for more mortgage prosecutions (Reuters) Personal Finance News - Yahoo! News - Fri, 03 Feb 2012 02:09:16 GMT Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.

Rate on 30-year mortgage falls to record 3.87 pct. (AP) Personal Finance News - Yahoo! News - Fri, 03 Feb 2012 00:01:17 GMT AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.

3 investments for an era of low interest rates (AP) Personal Finance News - Yahoo! News - Thu, 02 Feb 2012 22:50:37 GMT AP - The Federal Reserve is making it increasingly hard for investors to earn anything, unless they're willing to accept plenty of risk. Ben Bernanke and his Fed are playing the role of adviser, encouraging Americans to get a little more adventurous by shifting savings out of low-yielding bonds and putting it to work in stocks.

Wynn's 4th-qtr profit up 67 pct as revenue climbs (AP) Personal Finance News - Yahoo! News - Thu, 02 Feb 2012 22:25:48 GMT AP - Wynn Resorts Ltd. said Thursday that revenue growth in its Macau and Las Vegas casinos and a sizable income tax gain helped drive profit up 67 percent in the last three months of 2011.

Sallie Mae will credit $50 fee to suspend payments (AP) Personal Finance News - Yahoo! News - Thu, 02 Feb 2012 21:29:25 GMT AP - Private student lender Sallie Mae is changing how it handles a fee it charges struggling borrowers who seek to temporarily suspend payments.

Summary Box: Sallie Mae changes policy on loan fee (AP) Personal Finance News - Yahoo! News - Thu, 02 Feb 2012 21:05:51 GMT AP - THE NEWS: Private student lender Sallie Mae is changing how it handles a fee that struggling borrowers must pay to temporarily suspend payments.