This week is one of four times a year that the world’s largest corporations report their earnings to their shareholders. It’s time to look back on the second quarter of 2014.
Read More »CFPB Targets Georgia Law Firm
The Consumer Financial Protection Bureau (CFPB) continued its aggressive enforcement of consumer protection laws on Monday by filing a lawsuit against Georgia based law firm Frederick J. Hanna & Associates, for violations of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Fair Debt Collections Practices Act.
Read More »Consumers Expect Economic Improvement
The Federal Reserve Bank of New York released Monday the findings of its June 2014 Survey of Consumer Expectations (SCE), revealing a slight uptick in economic hopes among Americans as housing expectations remained flat.
Read More »Yellen to Testify before Congress this Week
Federal Reserve Chair Janet Yellen will testify before Congress on Tuesday and Wednesday of this week to give her semi-annual report on the health of the United States economy and Fed efforts to help jumpstart a recovery that, while still trending upward, has started to slow in recent months.
Read More »Citigroup Announces Effect of Settlement on Q2 Earnings
Citigroup's second-quarter profits took a major hit as the bank announced a settlement with the government to resolve securities claims. Citi released its quarterly earnings report Monday morning, posting net profit of $181 million—a decline of 96 percent compared to earnings of $4.2 billion a year ago.
Read More »Fed Considers Ending Stimulus Program
The Federal Reserve appears to be confident enough in the trajectory of the United States economy that it looks to be planning to stop adding to its bond holdings in October, according to the minutes of the June Federal Open Market Committee meeting.
Read More »Rhode Island Affirms MERS Right to Assign
The Supreme Court of Rhode Island continued the recent trend nationwide of affirming the legitimacy of Mortgage Electronic Information Systems’ (MERS) role as mortgagee, including its authority to assign a mortgage.
Read More »China Poised to become Force in U.S. Housing Market
As the United States' neighboring countries lose their economic edge in the nation's home market, analysts at Capital Economics suggest China might soon become the biggest foreign buyer of U.S. housing. In a report released earlier this week, the National Association of Realtors (NAR) found foreign purchases of U.S. real estate surged in the 12 months ending in March to $92.2 billion, an increase of 35 percent over the prior period.
Read More »CFPB Issues Guidance to Prevent Consumer Protection Work-Around
The Consumer Financial Protection Bureau (CPFB) issued guidance Friday to curb mortgage brokers transitioning into the “Mini-Correspondent” lender model in the hopes of avoiding the Mortgage consumer protections affecting broker compensation that took effect in January of 2014.
Read More »Wells Fargo Financial Report Reinforces Recovery
Wells Fargo reported strong financials for the second quarter, driven in part by an uptick in mortgage lending and ongoing improvements in credit quality.
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