Tagged: housing

Illinois Attorney General Lisa Madigan has filed suit against ratings agency Standard and Poor's for fraudulently assigning high ratings to mortgage-backed investments despite their risk.

The suit filed today in Cook County - the state's largest - argues that instead of independently evaluating mortgage-backed securities, S&P gave them higher ratings than warranted to benefit investment bank clients and the agency's bottom line.

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St. Clair County will take over a multi-million dollar federally funded housing program in East St. Louis.

Missouri is lagging in its use of federal stimulus money intended to make homes more energy efficient for low-income residents.

Missouri received nearly $129 million in home weatherization funds for low-income residents under the 2009 federal stimulus bill. As of the end of January, just $47 million of that had been spent. That amounts to 37 percent of the total.