PIMCO: Here's What Ben Bernanke Told Us About 2015
Dr. Bernanke affirmed PIMCO's view that the outlook for the U.S. economy in 2015 is incrementally positive, reflecting improving household finances and confidence as well as increasing evidence that the economic recovery is becoming self-sustaining and ... [...]
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Mortgage rates hit a new low for the year
Related: Getting a mortgage about to get easier. Rates have been falling in tandem with 10-year Treasury yields, which have also fallen to their lowest level since May 2013, noted Frank Nothaft the chief economist at Freddie Mac. Plunging oil prices ... [...]
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Whistle-Blower on Countrywide Mortgage Misdeeds to Get $57 Million
An earlier false-claims lawsuit filed by Mr. O'Donnell was instrumental in Mr. Bharara's pursuit of a civil fraud claim against Bank of America and a former Countrywide official for selling shoddy mortgages. The lawsuit centered on a program at ... [...]
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Fixed mortgage rate sinks to yearly low
Recent global economic concerns, including the Russian economic downturn, have sent investors fleeing for the safety of bonds. That, in turn, has caused bond prices to fall. And because the mortgage market loosely follows Treasury yields, mortgage ... [...]
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Cheaper oil could fuel a drop in mortgage rates
Consumers are finding another upside in tumbling oil prices: lower mortgage rates. While indirect, there's a link between the steep slide in crude and current super-low mortgage rates. Concerns of a slowdown in global growth have partly pushed down oil ... [...]
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Mortgage Deal Monitor: Ocwen Review May Be Flawed
Joseph Smith, who is monitoring banks' and mortgage servicers' compliance with the $25 billion settlement over foreclosure abuses, said Tuesday he has hired an independent accounting firm to re-evaluate Ocwen's progress in the first half of the year. [...]
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Senate Passes Tax Bill That Includes Key Mortgage Deductions
The Senate approved a bill late Tuesday that would retroactively extend over 50 expiring tax provisions for one year, including one that shields distressed homeowners from paying taxes on any mortgage debt forgiven in a short sale. The Senate approved ... [...]
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It's getting easier to get a mortgage, but home buyers aren't biting
Lenders say they've consistently eased their credit standards throughout the year, but potential home buyers still aren't biting, according to a Fannie Mae survey of top mortgage executives at 192 institutions. In response to the housing bust, lenders ... [...]
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Credit Scoring Is An Outdated System Holding Back The American Economy
Two months ago, Ben Bernanke, the former Chairman of the Federal Reserve, revealed that he had been shot down by lenders for a mortgage refinancing. The farcical circumstance made big headlines, mostly about the ridiculous tightness of credit markets. [...]
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