Annualized liquidations of United States RMBS loans increased last quarter for the first time in seven quarters, according to a report issued Monday by Fitch Ratings. The conditional default rate increased in Q2 2014 to 4.92 percent after nearly two years of declines from 9.76 percent in Q2 2012. The previous decline was spurred on by shrinking inventories of distressed properties and a decrease in the use of short sales.
Read More »Republicans to Release Report on the Anniversary of Dodd-Frank
Republicans in the House of Representatives are set to mark the four year anniversary of the controversial Dodd-Frank financial reform act with a 100 page report highlighting its perceived failures. Chief among those failures is the fact that the law did not accomplish its purported goal of ending the prospect that banks are “too big to fail.
Read More »Texas Job Growth Slows
The old adage “everything’s bigger in Texas” really does ring true sometimes. The nation’s second most populous state leads the nation in job growth and is consistently ranked as the one of the best climates for business in the United States.
Read More »Minnesota Economy Strong, Housing Lags Behind
Minnesota is generally a very consistent performer in the economy when compared to the United States Economy as a whole. The peaks are never too high and the valleys are never too low. On Friday Wells Fargo released its July 2014 economic outlook reinforcing that the state economy is greatly improved but housing still lags behind.
Read More »Labor Force Participation Rate Problematic for Recovery
A report released Thursday by the White House Council of Economic Advisors points to a number of factors that lead to the conclusion that the labor force participation rate is unlikely to return to the past levels it enjoyed before the economic downturn any time soon – and maybe never again.
Read More »Two Biggest Colorado Foreclosure Firms Charged with Fraud
The Attorney General of Colorado has sued the two largest foreclosure law firms in the state for fraud stemming from violations of the state’s various consumer protection and debt collection laws.
Read More »CFPB Proposes to Publish Complaint Narratives against Banks, Servicers
The Consumer Financial Protection Bureau proposed a new rule to allow consumers that post complaints to the option to opine on the details on the bureau’s public facing complaint database.
Read More »Foreclosure Activity Falls below Pre-Crisis Levels
In an important signpost of recovery, foreclosure activity in the United States has fallen to levels not seen since before the financial crisis began, according to a report issued by RealtyTrac Thursday.
Read More »Delaware Banker Charged with TARP Bank Fraud
Peter Hayes, a former lender at TARP recipient Wilmington Trust of Delaware, was charged in a seven count indictment in connection with an alleged bank fraud scheme in which he and others benefited at the expense of the bank.
Read More »Fed Doesn’t Support House Oversight Bill
The Chair of the Federal Reserve Board Janet Yellen deliver her semi-annual Monetary Policy Report and completed her second day of testimony Wednesday, this time testifying before the House Committee on Financial Services.
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