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Finance, Economy & Government Issues Archive


New Name, Same Mission to Put Consumer First

RISMEDIA, Jan. 7, 2008-To give consumers a better idea of its purpose and mission, the Better Mortgage Bureau has decided to change its name to Consumer Mortgage Bureau. By adding consumer to their name, the organization hopes to eliminate any confusion in the public's mind that they are anything but ...


Mortgage Applications Decrease in Latest MBA Weekly Survey

RISMEDIA, Jan. 4, 2008-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the Christmas holiday shortened week ending December 28, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 533.9, a decrease of 11.6% on a seasonally adjusted basis from 603.8 one week ...


Inflation’s Return: Is It Here to Stay?

RISMEDIA, Jan. 1, 2008-(MCT)-Has a generation of steady or falling prices come to an end? The government recently reported that for October, the consumer price index rose over the past 12 months at a pace of 3.5%, reaching a 14-month high. A year ago, the comparable inflation barometer read 1.3%. ...


Turnaround Pros See Housing Crisis Lasting Through 2008

RISMEDIA, Jan. 1, 2008-Still unfurling, the housing "crisis" of 2007 is the source of the top three picks by turnaround professionals predicting the most distressed industries in 2008. ...


Tips for Giving Wisely This Holiday Season

RISMEDIA, Jan. 1, 2008-The holiday season is a time for giving - especially to those in need - and many charities are hard at work this time of year. The Federal Trade Commission offers the following tips to help you make the most of your charitable donations this season: ...


Wells Fargo Economists: Economy Continues to Slow, Recession Unlikely in ’08

RISMEDIA, Dec. 31, 2007--The fallout from the housing slump and the so-called "credit crunch" will prove less severe than many fear, said Wells Fargo's senior economists during the company's annual economic forecast teleconference earlier this week. ...


Votes to Extend Mortgage Insurance Tax Deductibility for New Home Loans Through 2010

RISMEDIA, Dec. 21, 2007-The U.S. House of Representatives voted to help many troubled homeowners and potential home buyers looking for an affordable mortgage, making mortgage insurance premiums tax deductible for all mortgages originated for the next three years. The Senate passed this legislation last week by unanimous consent. Mortgage insurance ...


Mortgage Applications Decrease in Latest MBA Weekly Survey

RISMEDIA, Dec. 21, 2007-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending December 14, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 653.8, a decrease of 19.5% on a seasonally adjusted basis from 811.8 one week earlier. On an ...


A Different Solution to Mortgage Crisis? Economist Says Yes

RISMEDIA, Dec. 21, 2007-The five-year freeze on mortgage interest rates recently announced by the federal government may be intended to help responsible homeowners avoid foreclosure, but a noted economist with the Real Estate Center at Texas A&M University says there may be a better solution to the mortgage crisis. ...


NeighborWorks Expects to Train More Than 1,600 Foreclosure Counselors in 2008

RISMEDIA, Dec. 20, 2007-NeighborWorks® America announced that it trained more than 200 homeownership counselors in foreclosure intervention counseling during its recent NeighborWorks® Training Institute - the most counselors ever trained in foreclosure at an institute. ...


There Will Be a Recession According to Report on Business Cycles

RISMEDIA, Dec. 18, 2007-NetGainRealEstate.com has completed an analysis of peak to peak market cycles going back to 1900. There are currently three viewpoints on the recession question. One says there will be no recession. Another says there will be a recession and it will be mild. The third says there ...


Anti-Predatory Lending Bill Jumpstarts Crystal Ball into Mortgage Mayhem

RISMEDIA, Dec. 14, 2007-Kieran P. Quinn, CMB, chairman of the Mortgage Bankers Association (MBA) expressed concerns about "The Homeownership Preservation and Protection Act of 2007," legislation introduced by U.S. Senator Christopher Dodd (D-CT), Chairman of the Senate Banking Committee.Quinn issued the following statement: ...


Mortgage Applications Increase In Latest MBA Weekly Survey

RISMEDIA, Dec. 13, 2007-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending December 7, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 811.8, an increase of 2.5% on a seasonally adjusted basis from 791.8 one week earlier. On an ...


Survey Says: Delinquencies and Foreclosures Increase

RISMEDIA, Dec. 10, 2007-The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 5.59% of all loans outstanding in the third quarter of 2007 on a seasonally adjusted (SA) basis, up 47 basis points from the second quarter of 2007, and up 92 basis points from one year ...


Paul Wylie to Step Down as Metrocities Mortgage CEO

RISMEDIA, Dec. 10, 2007-Metrocities Mortgage, LLC, a national leader in the residential mortgage lending market, announced that CEO and founder Paul Wylie has decided to step down. ...