Tag Archives: Mortgage Debt

Economic growth is still grinding along, but has slowed considerably since earlier in the year, according to the Federal Reserve's popular Beige Book report released Wednesday. Reports from the 12 Fed districts on their local economies painted a picture of ""widespread signs of a deceleration."" Real estate remains a drag on economic growth in regions across the country, with major trouble spots identified in poor home sales and weak demand for commercial space.

Rock-bottom interest rates and less-than-encouraging economic data have kept mortgage-backed securities (MBS) investors worried about what the government could do next to prop up the ailing housing market, with the latest concern stemming from a recent announcement by Freddie Mac, according to Barclays Capital. The GSE has issued a new servicing guide detailing an ""easy refinance"" option with loan-to-value ratios up to 95 percent and $2,000 cash back to the borrower. Barclays says the program ""is everything but new.""

High levels of unemployment and the strain of housing costs continue to keep consumers mired in financial distress, according to data released by the nonprofit credit counseling agency CredAbility. While economic and mortgage duress is the underlying theme of the agency's second-quarter findings, CredAbility noted that consumers' net worth has actually increased for the past five quarters as they continue to pay down debt and, in some parts of the country, benefit from stabilizing housing prices.

Minneapolis-based Wolters Kluwer Financial Services recently announced that two members of its compliance management services team have earned the prestigious Certified Regulatory Compliance Manager (CRCM) designation from the American Bankers Association’s (ABA’s) Institute of Certified Bankers (ICB).