Obama Urges Mortgage Refi Plan for ‘Responsible Homeowners’
The Obama administration will propose legislation to allow millions of homeowners to refinance at the current, historically low interest rates, and move them into mortgages guaranteed by the Federal Housing Administration.
The ...
Obama: New Unit to Target Mortgage Abuses of Crisis
In his state of the union address, President Obama said he will ask Attorney General Eric Holder to create a new unit of federal and state prosecutors to expand a probe into abusive practices by mortgage lenders ...
Economists See Slightly Better GDP Growth, Stable Prices
Economists are a bit more optimistic about growth in the gross domestic product (GDP) and stability in prices, compared to their outlook last October.
But GDP growth won’t likely be sufficient to substantially ...
Gingrich, Romney Blast Dodd-Frank for Stalling Foreclosure Crisis
The two frontrunners for the Republican nomination for president assailed the Dodd-Frank reform legislation passed by Democrats in 2010 as a big factor in stalling the foreclosure crisis.
In their Florida debate ...
Lawmakers Put Off Anti-Piracy Bills After Web Protests
A widespread Internet protest over anti-piracy bills Wednesday, led by Wikipedia and Google, has had the intended impact – for now – as Senate and House leaders today said they have postponed scheduled actions ...
U.S., Big Banks Close to Settling ‘Robo-Signing’ Foreclosure Mess
A long-anticipated settlement between major banks and the federal government over “robo-signing” – or fraudulent foreclosure documentation – is very close, according to Housing Secretary Shaun Donovan.
In ...
FDIC Issues Rules on Stress Tests for $10B-Plus Banks
The Federal Deposit Insurance Corp. has issued its proposed rules for U.S. banks to self-administer “capital adequacy” stress tests in the case of future economic downturns or crises.
The tests will determine ...
Fed Officials Seem Divided on Housing Market Strategy
Fallout persists from the Federal Reserve’s much-debated paper on the housing market, a set of policy recommendations sent to some Congressional leaders last week.
The rare guidance offered by the Fed angered ...
IRS: Underreporting Boosts ‘Net Tax Gap’ to $385 Billion
The Internal Revenue Service calls it the “tax gap” – the amount of federal tax dollars unpaid – and it amounts to near 15 percent, or $385 billion, according to the very latest IRS study.
And that’s the ...
Romney to Save Taxpayers $2,900 on Average, Millionaires $146K: Report
Republican Mitt Romney’s tax plan would cut taxes for about 75 percent of taxpayers by an average of $2,900, but its impact takes a wide swing among income levels with 13 percent of earners potentially seeing ...
