Federal Reserve

Lender Processing Services served as a part of a settlement after a dispute between the government and foreclosure misconduct post housing crash. The massive settlement is a result of missteps in document handling especially in the third-party foreclosure process.  Large-scale banks and mortgage services were involved in the aftermath of the housing crisis. Other large-scale […]

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The economic growth in the United States remained moderate in the midst of gains in housing, manufacturing and autos that balanced out weakness in industries related to defense in certain regions, according to the Federal Reserve’s report. U.S. mortgage rates continue to drop, keeping costs of borrowing near record lows and somehow aided the recovery […]

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Annaly Capital Management Inc. (NLY), the biggest U.S. real-estate investment trust that purchases mortgage debt, said that if President Barack Obama is re-elected it will result in a more aggressive housing policies, such as new attempts to urge mortgage refinancing among borrowers with loans backed by the government. If Obama triumphs, the mortgage lenders can […]

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At first glance, the Durbin Amendment would appear to be a definite win for retailers. The Federal Reserve placed a limit to the average fee at 21¢ for every swipe, which is less than 50% of the bank charge. While merchants are pleased with the triumph, they are claiming they still deserve more. In 2011, […]

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The average rate of 30-year fixed mortgage has fallen from 3.39% to 3.37%, according to Freddie and Mac. The mortgage rate two weeks ago was 3.36%, which was the lowest rate since the year 1971. The 15-year fixed mortgage rate hits all-time low from 2.7 percent last week to 2.66 percent. The housing industry is […]

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The amount of credit card debt, home mortgages, and the majority of other consumer debts now is comparable to 2006 or early on, the Moody’s Analytics data suggests. After a long time of consumer curtailment, U.S. households have minimized their debt loads, which used to be out of control, into levels before recession, mainly eliminating […]

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JPMorgan Chase & Co., Citigroup Inc. and other banks in the United States would pay up to $125,000 to every customer who had been greatly affected by wrongful handling of foreclosures by the banks from 2009 to 2010, based on a removal plan unveiled by the government regulators. In a statement of Thomas Curry, the […]

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The United States Federal Reserve said on Tuesday that a delay, even just a short one, in paying the debt obligations of the Treasury Department would possibly result in serious market disruptions. The delay of payments would have a long-term impact on the costs that the U.S. will incur when it borrows money, according to […]

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