Thursday, February 9th, 2012
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An interesting read for Redondo WA residents...



States, banks reach foreclosure-abuse settlement (AP)

Housing and Urban Development (HUD) Secretary Shaun Donovan, second from right, and others, watch as  Attorney General Eric Holder announces a settlement regarding mortgage loan servicing and foreclosure abuse, Thursday, Feb. 9, 2012, at the Justice Department in Washington. (AP Photo/Cliff Owen)AP - U.S. states have reached a $25 billion deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst.


 
Timeline of events of nationwide mortgage deal (AP)
AP - On Thursday, 49 states reached a $25 billion deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst.
 
US bank regulators roll fines into mortgage pact (Reuters)
Reuters - U.S. banking regulators are using the agreement announced on Thursday between large U.S. banks and state and federal agencies over foreclosure abuses as a vehicle for levying their own fines on banks for problems in their mortgage servicing businesses.
 
Housing regulator acted on "ideology": lawmakers (Reuters)

Housing and Urban Development (HUD) Secretary Shaun Donovan, left, smiles as he listens to Colorado Attorney General John Suthers, right, speak during a news conference at the Justice Department in Washington, Thursday, Feb. 9, 2012, where a settlement regarding mortgage loan servicing and foreclosure abuse was announced . (AP Photo/Cliff Owen)Reuters - Two Democratic lawmakers on Wednesday accused the regulator of Fannie Mae and Freddie Mac from blocking the firms from reducing principal on the mortgages they back for reasons of "ideology."


 
The U.S. and China: A Duel to the Debt (The Motley Fool)
The Motley Fool - In this period of "exceptional uncertainty" (to quote Federal Reserve Chairman Ben Bernanke), where can investors turn for a considered perspective on the current environment? Produced to feed the beast of the 24-hour news cycle, the bulk of financial journalism and commentary today isn't worth the servers it is stored on. One notable exception to that rule is Buttonwood, the financial markets column of The Economist. Philip Coggan is the columnist -- arguably the most influential position in financial journalism (along with the head of Lex at the Financial Times).
 
Need for more Fed bond buys a "close call": Williams (Reuters)
Reuters - The U.S. central bank may yet need to buy more bonds to bolster the weak recovery, but better-than-expected jobs data makes it a "close call," a top Federal Reserve official said on Wednesday.
 
May 5th, 2008

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