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Thursday, April 11, 2013



Two prominent Democratic senators levied a withering attack on federal bank regulators on Thursday, accusing them at a Senate hearing of putting the interests of banks ahead of consumers in refusing to disclose what they know about the failed ...

Florida, Nevada and Illinois posted the highest foreclosure rates for the first quarter, according to RealtyTrac's March and first quarter U.S.
New York is a judicial foreclosure state, and at 1,049 days, it has the longest foreclosure timeline in the country.
Indicating the marginal revival of the housing market, the foreclosure market report - released by RealtyTrac - revealed that the overall foreclosure activity in Mar 2013 continued to show a downward trend. As per this leading online marketplace of ...
Nevada once again has the highest foreclosure- related activity rate in the nation after nearly a yearlong break, according to a report released Wednesday by national foreclosure tracker RealtyTrac. / AP File ...
The number of U.S. homes lenders repossessed fell in March to the lowest level in more than five years, though more properties entered the foreclosure process in a reminder that the market has a long way to go to full recovery, data from RealtyTrac ...
“I think it speaks to the fact that because of the increasingly lengthy foreclosure process, we're still dealing with properties that got into trouble a year or two ago that are finally being foreclosed on even though the housing market may be looking ...
In the Richmond area, the number of foreclosure filings - default notices, scheduled auctions and bank repossessions - fell 15.6 percent in the first quarter from the same period a year ago, marking the 28th consecutive month with year-over-year ...
During the first three months of this year, one in every 104 homes in Florida received some type of foreclosure filing, from an initial foreclosure filing to a bank repossession form. That topped all other states, including second-place Nevada ...
Starting Friday, cash payments ranging from $300 to $125,000 will be sent to 4.2 million borrowers as part of a $3.6 billion settlement over foreclosure abuses reached between the government and 13 mortgage servicers, according to the Office of the ...
LOS ANGELES ( - The number of American homes reposed by lenders in March fell to the lowest level in more than five years, according to Los Angeles-based Realty Trac Inc. The foreclosure listing firm found that home repossessions fell three ...
IRVINE, Calif., April 11 (UPI) -- U.S. foreclosure starts rose in March for the second consecutive month, but bank repossessions dropped, online real estate tracking firm RealtyTrac said.
based foreclosure-data firm RealtyTrac, 10,731 foreclosure-related documents were filed in Ohio during the month, a slight increase from February and a 27.4 percent jump from March 2012.
Florida is the nation's foreclosure state, and Miami is the foreclosure capital. The greater Miami area posted the highest foreclosure activity of any large city in the nation in the first quarter, with one in every 79 residences receiving some type of ...
Foreclosure filings in Shasta County in March dipped to their lowest level in nearly six years, a national tracking firm reported today.
According to a report from RealtyTrac, 35,957 Illinois properties received a foreclosure notice in the first quarter, putting the state behind only Florida and Nevada in terms of foreclosure activity. The firm also found that it takes an average of 720 ...
FILE - In this file photo, a forclosure sign tops the for sale sign outside a home in Denver. Foreclosure activity slowed across the country in March and during the first quarter of 2013, but increased in Connecticut on a year-over-year basis.
Sunshine State cities accounted for seven of the 10 highest metro foreclosure rates in the first quarter, according to RealtyTrac.
The most shocking piece of news on Tuesday was a seemingly innocuous document [PDF]. A simple, sterile page; a printout of a spread sheet with numbers.
The bank you are dealing with is not only not your lender, not owning your loan, thus having nothing to lose in the foreclosure process, but actually has everything to gain. This is so because it has inserted itself in the loan transaction as an


Scott London, the former KPMG partner who issued an unusual public 
confession to insider trading,was charged with sharing confidential secrets of five companies 
with his golf partner in exchange for bags of cash and a Rolex watch.
Thu Apr 11, 2013 2:11pm EDT. * Borrowers will have until 2015 to win a new loan. * More than 2.2 million have used Home Affordable Refinance Program.
WASHINGTON—The number of U.S. workers filing new applications for unemployment benefits dropped for the first time in four weeks, a renewed yet seasonally tempered sign of job gains following March's weakness in the labor market.
Royal Philips Electronics NV has shown off a new type of light it says is twice as efficient as fluorescent tubes and more than 10 times as efficient as a traditional light bulb.
JPMorgan Chase (JPM), which is under regulatory orders to tighten internal controls following a record trading last year, will face more sanctions in the coming months, Chief Executive Officer Jamie Dimon said.
The number of Americans covered by employer-sponsored health plans fell below 60 percent in 2011, capping a decade-long decline attributed to a lower number of jobs available and the soaring cost of coverage.
With a YouTube video, tweets and Facebook postings, teen idol Justin Bieber unveils a prepaid debit card aimed at teens. NEW YORK (CNNMoney).
Year-over-year foreclosure activity - default notices, scheduled auctions and bank repossessions - in California continued to plunge dramatically in March, according to a report released today by Irvine-based RealtyTrac.
Microsoft tumbled on Thursday as investors were unsettled by a report that said the PC market shrank nearly 14 per cent in the first quarter, partly due to the failure of the company's latest operating system to reboot the flagging market.
J.C. Penney Co. (JCP) will reverse Ron Johnson's strategy of reducing discounts and put coupon advertising in newspapers again, said William Ackman, the activist investor who recruited the ousted chief executive.
Sinclair Broadcast Group, which is buying Seattle-based Fisher Communications, has a history of using its television stations to support its political views.
Thu Apr 11, 2013 5:07am EDT. HERZLIYA, Israel, April 11 (Reuters) - Noble Energy CEO Charles Davidson predicted the Texas-based company will double in size in the next five years and said the option for a natural gas pipeline from Israel to Turkey has ...
Metro is proposing to add more lighting, glass, fare gates and signs at its stations in the coming year, moving away from the dimly light, brown features and 1970s style that has been a hallmark of the 86 stations in the rail system.
Thu Apr 11, 2013 2:32pm EDT. April 11 (Reuters) - A Wall Street regulator said on Thursday it has charged a Washington-based online brokerage with civil fraud related to the sale of promissory notes to 58 investors, including current and former professional ...
The company announced this morning that it has raised $41 million in debt, some of which can be converted into equity. The move gives Foursquare more capital to play with as it grows its business.
Burnsville's five Caribou Coffee shops are not among the more than 150 slated for closure across the nation. A source with knowledge of the company's downsizing plans and speaking on the condition of anonymity said 80 stores are being outright closed and ...
Both Paulson & Company and P. Schoenfeld Asset Management indicated on Thursday that they would support the revised proposal by T-Mobile's parent, Deutsche Telekom.
When Haruhiko Kuroda, the new governor of the Bank of Japan, announced a radical new form of quantitative easing this month, some pundits dubbed it his “Volcker” moment.
IRS email Alamy / DailyFinance If you've been swapping emails with your crooked accountant about the best way to avoid paying taxes, be aware: The IRS says it has the right to go into your account and read them.
Disgraced former cyclist Lance Armstrong is liquidating some assets amid the Texas-sized legal woes that may end up costing him the lion's share of his ill-gotten gains.

US revives probe of media's handling of economic data: source

WASHINGTON (Reuters) - U.S. law enforcement officials have reversed a decision to wind down an investigation into how news agencies handle the release of economic data to investors, concerned some sensitive information may have leaked into financial ...
Housing, long the thorn in the economy's side, will likely build on the recovery it began last year with a 7.1 percent gain in home prices in 2013.
"We agreed among us ... that we are going to engage in new efforts, very specific efforts, to promote economic development ... and to remove some of the bottlenecks and barriers that exist with respect to commerce in the West Bank," he said. "We intend ...
"We don't think there is enough signal here to conclude the U.S. economy is wobbling. Rather, it appears that the underlying trend has not improved as much as the January-February data suggested," said Julia Coronado, an economist at BNP Paribas in New ...
China is finally showing clear signs of economic vigor, which should help push global growth even as the U.S. economy looks set to slow, with sickly European economies acting as the major drag.

UPDATE 2-US housing regulator extends popular refinance program

WASHINGTON, April 11 (Reuters) - The top U.S. housing regulator on Thursday extended by two years a popular federal refinancing program to allow more borrowers with government-backed loans to lower their monthly mortgage payments.
The number of homes lost to foreclosure is closing in on levels not seen since before the housing meltdown. Foreclosure filings -- including notices of default, scheduled auctions and bank repossessions -- during the first quarter fell 23% from a year ...
Housing is like a coiled spring” driven by “a lot of pent-up demand,” said Glenn Hubbard, dean of Columbia University's business school in New York, who was chairman of the White House Council of Economic Advisers under President George W. Bush.
Reverse mortgages are to blame, and the agency has until Sept. 30 to determine whether it needs to tap the treasury. The FHA commissioner said in a statement that if not for the reverse mortgages, the agency would have had a $4 billion surplus at the ...
And economists have got increasingly bullish about the housing market. But Gluskin Sheff's David Rosenberg says he's seeing signs that housing demand has cooled. First, "bank-wide real estate credit has turned down again". rosenberg credit lending ...
If the housing crisis has taught the Federal Reserve anything, it's for its economists to be more mindful of the pitfalls of bad public policy, Federal Reserve Bank of St. Louis President James Bullard said Thursday.
GRAND RAPIDS, MI - Housing starts surged 57 percent in Ottawa County during the first three months of the year, according to Builder Track Reports.
New housing prices increase for 23rd consecutive month. * Western energy city of Calgary biggest reason for rise. OTTAWA, April 11 (Reuters) - New home prices in Canada rose by 0.2 percent in February, the 23rd consecutive month-on-month increase, ...
BRATTLEBORO -- The Windham and Windsor Housing Trust is in the process of raising about $4 million to make major upgrades to 29 units at five different properties in Brattleboro and Wilmington.
The cash-strapped Federal Housing Administration will probably require a $943 million taxpayer bailout to cover expected losses on loans it insured as the U.S.
The housing market continues to look like it's in a rebound. Let's start this analysis by looking at the existing home sales market.
Edward Pinto of the American Enteprise Institute questions whether the recovery in the housing market is really another artificially created bubble.
Housing inventories picked up modestly in March, offering some hope to home buyers who are grousing about slim pickings, according to a report released Wednesday.
MANCHESTER-BY-THE-SEA - On a recent Saturday afternoon, Paul Scialdone painted the walls in the community room at the Newport Park elderly housing complex. The NCAA tournament was in full swing and Scialdone is a self-described “basketball nut.
The area's housing stock is in short supply, bidding wars are driving up prices, and buyers are worried about getting priced out of the market.
Through a series of stunning photographs, the exhibit “We the People” at the Gordon Parks Gallery in Mott Haven takes direct aim at the stereotypes often meted out on those living in public housing. “We want to debunk the myths that everyone who lives ...
It is clear that the housing market has turned a corner. Sales rates are moving up, pricing is up, and inventory is low and dropping.
Housing Commission members are wrestling with tweaking one of Highland Park's most significant affordable-housing provisions, which requires developers to create below-market units as part of a larger housing project. On the one hand, it could generate ...
Multiple offers are becoming more common as the housing market heats up. Edwina Karmo, right, and her husband, Robertson, just found out that their bid for this house in Brooklyn Center, for more than the list price, was the highest, so they were doing ...
That includes 21.75 acres for housing, or 17.1 units per acre; and 11.48 acres for commercial, like a convenience store, hotel or strip mall at the south end.

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