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Finance, Economy & Government Issues Archive


Appraisal Institute Urges Congress to Address Feeble Oversight

RISMEDIA, March 13, 2009-In testifying before Congress yesterday, the Appraisal Institute told lawmakers that mortgage reform legislation is needed to address structural weaknesses in mortgage industry regulation. Calling current regulatory oversight "feeble," the Appraisal Institute called upon Congress to provide state and federal appraisal oversight agencies with greater enforcement power, ...


Committee Passes Small Business Administration Budget Recommendation

RISMEDIA, March 13, 2009-The House Committee on Small Business submitted its recommendations for the Small Business Administration's (SBA) Fiscal Year 2010 budget, doubling previous budgets by proposing $1.43 billion in funding for agency programs that will help local businesses stay afloat and promote economic recovery. The recommendations submitted by the ...


Predatory Lending Practices among Latinos to be Addressed before Congress

RISMEDIA, March 12, 2009-The National Council of La Raza (NCLR), the largest civil rights and advocacy organization in the United States, will testify before the U.S. House Committee on Financial Services today on Latino wealth-building priorities and reforming the nation's broken mortgage system. Since the hearing will look at consumer ...


Half-Million New Jersey Homeowners Could Miss Property Tax Appeal Deadline

RISMEDIA, March 12, 2009-A property tax analytics expert warns that 500,000 or more New Jersey homeowners may lose an average savings of $1,919 by failing to file their tax appeals by April 1. ...


Will the Stimulus Benefit Homeowners and Buyers?

RISMEDIA, February 18, 2009-"There are four primary sections of the economic stimulus plan that will benefit home owners and buyers," said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. According to Nicholas, these include: ...


Senate Starts to Tinker with $900 Billion Stimulus Plan

RISMEDIA, February 4, 2009-(MCT)-A divided and discontented Senate on Monday began debating a nearly $900 billion economic stimulus plan, while President Barack Obama launched a new grassroots campaign asking Americans to prod their lawmakers to act on it. ...


What Comes Next – The Fallout of America’s Buying Binge

RISMEDIA, February 4, 2009-(MCT)-For many consumers, the jig is up. After years of supersizing our houses, cars, meals and closets, Americans' buying binge seems to be over. ...


30-Year Mortgage Rates Rise to 5.25%

RISMEDIA, February 4, 2009-The weekly average rate borrowers were quoted on Zillow for thirty-year mortgages rose again last week to 5.25%, up from 5.12% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate website Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages increased ...


As Senate Takes on Stimulus, Everything’s Up for Debate

RISMEDIA, February 3, 2009-(MCT)-The U.S. Senate this week will debate the future of the American economy. Everything's up for discussion and subject to largely unpredictable votes: How to levy taxes, create jobs, help people buy homes, reinvigorate ailing state and local governments. ...


John Geha Named President, Coldwell Banker Canadian Operations

RISMEDIA, February 3, 2009-Noted management consultant John Geha has been named president of Coldwell Banker Canadian Operations effective immediately, the company announced. Geha, well known throughout Canada and the U.S. for his efforts helping real estate brokers increase productivity, growth and profit, will succeed retiring president, Gary Hockey. ...


Some Senior Citizens Feeling ‘Houselocked’ by Economy

By Warren Wolfe ...


FHA Loans Become Hot Option – Less-stringent standards Spurs Local Popularity

By Chris Churchill ...


Realtor Recommendations Make Headway in House

RISMEDIA, February 2, 2009-The U.S. House of Representatives has taken a significant step toward economic recovery in passing H.R. 1, The American Recovery and Reinvestment Act of 2009. ...


With No Room to Cut Rates, Fed Looks to Other Remedies

By Kevin G. Hall ...


Bankrate – Mortgage Rates Slide Lower

RISMEDIA, January 30, 2009-Mortgage rates fell versus one week ago, with the average 30-year fixed mortgage rate now 5.48%. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.29 discount and origination points. ...