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Perry’s gamble on mortgage giants cost Texas tens of millions

Just when Gov. Rick Perry had to deal with one negative story, another one comes right his way. According to the Associated Press, in 2004 the Texas executive invited several big mortgage companies into his state to help increase jobs, but they all went out of business in four short…

Bank of America weighs foreclosure deal

(Reuters) – Bank of America Corp may settle a state and federal probe of foreclosure practices in a deal that lets New York proceed with an inquiry into securitizations, Bloomberg reported citing two people with direct knowledge of the matter. The firm may pursue an accord with most of the…