Alex Veiga

July 15, 2010 | Daily Report Online

LOS ANGELES AP - More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc.

By ALEX VEIGA

4 minute read

March 13, 2008 | Daily Report Online

LOS ANGELES AP - Video game publisher Activision Inc. has asked a federal court to declare that its popular "Guitar Hero" game does not violate a patent held by real-guitar maker Gibson Guitar Corp.Gibson's 1999 patent covers a virtual-reality device that included a headset with speakers and that simulated participating in a concert, according to a complaint filed on Tuesday by Santa Monica, Calif.

By ALEX VEIGA

2 minute read

December 16, 2010 | Daily Report Online

LOS ANGELES AP - The number of U.S. homes taken back by lenders dropped to the lowest level in 18 months in November, the result of foreclosure freezes enacted by several banks following allegations that evictions were handled improperly.Home repossessions dropped 28 percent from October and 12 percent from November last year, foreclosure listing firm RealtyTrac Inc.

By ALEX VEIGA

4 minute read

March 13, 2008 | Daily Report Online

LOS ANGELES AP - Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates, a research firm said Wednesday.A total of 223,651 homes across the nation received at least one notice from lenders last month related to overdue payments, up 59.

By ALEX VEIGA

4 minute read

November 21, 2007 | Daily Report Online

LOS ANGELES AP - Countrywide Financial Corp., the nation's largest mortgage lender, sought to reassure investors Tuesday, declaring it has ample capital, access to cash and is well-positioned to benefit from the financial turmoil rocking the mortgage sector.The company's statement came amid rumors the Calabasas, Calif.

By Alex Veiga

4 minute read

October 30, 2007 | Daily Report Online

LOS ANGELES AP - A former executive at mortgage lender Countrywide Financial Corp. was charged Monday with insider trading after he sold stock before the company announced negative earning results three years ago, regulators said.The Securities and Exchange Commission filed a civil complaint against Quan Zhu, 43, in Los Angeles federal court.

By Alex Veiga

2 minute read

April 15, 2010 | Daily Report Online

LOS ANGELES AP - A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago.

By ALEX VEIGA

4 minute read

January 19, 2007 | Daily Report Online

LOS ANGELES AP - A hung jury forced a mistrial Thursday in the cases of two men who blamed their heart attacks on Vioxx, the once-popular painkiller made by pharmaceutical company Merck Co. that is now the subject of thousands of lawsuits.It wasn't clear when there might be a retrial of the lawsuits brought by Lawrence Appell, of Scottsdale, Ariz.

By Alex Veiga

4 minute read

December 14, 2007 | Daily Report Online

LOS ANGELES AP - Attorneys general in California and Illinois are investigating the lending practices of Countrywide Financial Corp., the nation's largest mortgage lender, officials said Thursday.The Illinois attorney general launched a probe into the lender's business practices and may expand the investigation to examine how homeowners were approved for mortgages with payments they were unable to afford.

By ALEX VEIGA

3 minute read

August 29, 2008 | Daily Report Online

By ALEX VEIGA

4 minute read