A recent analysis of over 25,000 home loan quotes and purchase requests which were made on the Zillow Mortgage Marketplace during the first two weeks of September revealed that almost a third of Americans would not qualify for a mortgage on account of their credit scores being too low. According to the latest data available [...]
Lender Processing Services, Inc. (LPS) recently released their Mortgage Monitor Report for the month of August. The figures contained in the August Mortgage Monitor Report indicated that foreclosure starts have continued to accelerate, with Fannie Mae and Freddie Mac seemingly being quite aggressive with timelines on early stage delinquencies. The report also indicates that mortgage [...]
The U.S. Food and Drug Administration (FDA) recently announced its decision to restrict the use of the diabetes drug Avandia (rosiglitazone) to patients with Type 2 diabetes who are unable to control their diabetes using any other medications. This decision was made by the FDA following the results of studies which indicated that the use [...]
A recent report issued by the U.S. Department of Education predicted that the adjusted default rate for federally guaranteed student loans would rise to the highest levels since 1998 shortly, with banks predicting that the default rate could increase to as much as 6.9 percent. Such an increase would effectively mean that the rate will [...]
Fannie Mae recently announced that nearly 35,000 of the foreclosure properties it owned across the country had been purchased through its First Look program, which was developed and implemented in order to promote owner occupancy. Through this First Look program, owner occupants and public entities are afforded an advantage in submitting offers on Fannie Mae-owned [...]
Due to the current housing market crisis, the practice of short selling, which involves the homeowner selling their property for a lower amount than the outstanding balance on the mortgage, in order to avoid foreclosure and as a means of ensuring that the lender receives some return on investment, has become quite common. The number [...]
Adolfo Laurenti, the Deputy Chief Economist at Mesirow Financial, recently aired his views on the current unemployment situation in America in his monthly newsletter, Themes on the Global Markets. “There is a deeper and broader transformation currently taking place in the labor market - at least a portion of the rise in unemployment that we [...]
A landmark small business jobs bill that aims to significantly improve lending to America’s entrepreneurs, as well as provide around $12 billion in tax cuts to small businesses across the nation, was recently passed by the United States Senate. The bill aims to help small businesses get increased access to capital, in order to help [...]
The U.S. Small Business Administration (SBA) recently announced that their 10-year and 20-year 504 loan programs, which provide long-term, fixed rate financing to America’s small businesses, are currently available at the lowest interest rates offered since the inception of the loan program. The SBA 504 loans are made available to small businesses by the SBA [...]
99ers and other advocates for a new Tier 5 to be introduced to the existing federal benefits structure will be disappointed to learn that although congress returns to Washington this week, their agenda does not include any legislation pertaining to the unemployment extension issue. With the mid-term elections looming, the unemployment extensions issue seems to [...]
