Flipper’s Role in Housing Bubble Exposed

A new federal report shows that house flippers – investors who bought properties in the housing boom, did them up, then sold them on for a quick profit – bear more responsibility for the housing bubble than we first thought, according to a report in the Associated Press. The Federal Reserve Bank of New York

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Bank of America close to $8.5 billion settlement

The Bank of America is said to be close to making a settlement over soured mortgages, and if this deal goes ahead it could resolve a large proportion of costs demanded by institutional investors. The experts view seems to be that although this settlement figure isn’t great, it is also not the worse case scenario

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