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  • Wed, Apr 24 2013
  • 10:14 PM » Deutsche Bank can't shake L.A. claims over foreclosure blight
    Published Wed, Apr 24 2013 10:14 PM by Reuters
    NEW YORK (Reuters) - A judge has denied Deutsche Bank AG's bid to dismiss a lawsuit by the city of Los Angeles accusing it of letting hundreds of foreclosed properties fall into disrepair and illegally evicting low-income tenants, a representative for the city's attorney said on Wednesday.
  • 7:16 PM » Paulson to Start Second Real Estate Fund After Decline in Assets - Businessweek
    Published Wed, Apr 24 2013 7:16 PM by Business Week
    Paulson to Start Second Real Estate Fund After Decline in Assets Businessweek Billionaire John Paulson is starting another private-equity fund to invest in real estate, marking the second time this month that his money-management firm has revealed plans to raise additional assets. Paulson & Co., which is based in New York, will seek ... and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 7:15 PM » Housing Recovery Continues but Headwinds Remain
    Published Wed, Apr 24 2013 7:15 PM by NAHB
    Press Release
  • 4:27 PM » PHH Corporation Announces First Quarter 2013 Earnings Release and Conference Call Schedule
    Published Wed, Apr 24 2013 4:27 PM by
    Mt. Laurel, NJ - April 24, 2013 - PHH Corporation (NYSE: PHH) ("PHH" or the "Company") announced today plans to release its first quarter 2013 results on Wednesday, May 1, 2013, after the market closes. The Company will host a conference call at 10:00 a.m. (Eastern Time) on Thursday, May 2, 2013, to discuss its first quarter 2013 results. All interested parties are welcome to participate. You can access the conference call by dialing (888) 677-8816 or (913) 312-1448 and using the conference ID 1282635 approximately 10 minutes prior to the call. The conference call will also be webcast, which can be accessed from the Investor Relations page of PHH's website at
    Click Here to Read the Full Article

  • 3:57 PM » ECB says ditching austerity would not help euro zone
    Published Wed, Apr 24 2013 3:57 PM by Reuters
    BRUSSELS/FRANKFURT (Reuters) - ECB policymakers rebuffed suggestions that Europe should ease up on austerity and said that while the central bank has room to cut interest rates, such a move would not necessarily help the economy much.
  • 3:57 PM » U.S. to eye high-speed traders, money funds
    Published Wed, Apr 24 2013 3:57 PM by Market Watch
    Federal regulators on Thursday will detail threats to financial stability, with expectations that concerns will focus on high-speed computerized trading, money-market funds and bank vulnerabilities in today's low-interest rate environment.
  • 3:54 PM » Why the Federal Housing Administration Is Better Off Than You Think
    Published Wed, Apr 24 2013 3:54 PM by Google News
    Writing for US News & World Report, Jason Gold notes that the Federal Housing Administration is outperforming most analysts expectations. Normally a small part of...
  • 3:53 PM » Housing Market Sprouting Spring Blossoms: CEOs
    Published Wed, Apr 24 2013 3:53 PM by CNBC
    An ongoing rebound in the new home market is leading to better sales of building materials like roofing as well as new appliances, two CEOs told CNBC on Wednesday.
  • 2:15 PM » Redfin CEO Glenn Kelman on Why Consumer Loyalty To Realtors Is Declining
    Published Wed, Apr 24 2013 2:15 PM by The Basis Point
    Loyalty to realtors and lenders is a lot less than what it used to be because of technology
    Click Here to Read the Full Article

    Source: The Basis Point
  • 1:32 PM » With Home Listings Low, 'Spec' Building Is Back
    Published Wed, Apr 24 2013 1:32 PM by CNBC
    Homes built without ready buyers were all the rage for builders during the housing boom, but certainly not during the bust, when demand disappeared. Now they're coming back.
  • 1:28 PM » tells consumers, "Give yourself some credit"
    Published Wed, Apr 24 2013 1:28 PM by
    New survey data indicates most Americans understand the consequences of a low credit score - but there's room for improvement, using three important "literacy lessons"
    Click Here to Read the Full Article

  • 1:26 PM » Bipartisan bill eyes more capital for big banks
    Published Wed, Apr 24 2013 1:26 PM by Market Watch
    WASHINGTON (MarketWatch) -- Two senators on Wednesday introduced a bill to limit too-big-to-fail banks, including a provision that would require large financial institutions with more than $500 billion in assets hold more than 15% of their assets in equity, significantly more than that being required by a global banking agreement. Specifically, the bill, introduced by Sens. Sherrod Brown, Democrat of Ohio, and David Vitter, Republican of Louisiana, would have the biggest banks calculate their capital by looking at their tangible common equity rather than a risk-weighted system that is currently included in the global agreement. Mid-sized banks with between $50 billion and $500 billion in assets would be required to hold capital equal to 8% of their assets in equity. The measure also seeks to ensure that "ancillary" activities such as derivatives securities investments at large financial institutions will be cut off from taxpayer-backed safety nets. Such a bill, if approved, would hit the six biggest banks with more than $500 billion in assets: J.P. Morgan Chase , Bank of America , Citigroup Inc. , Wells Fargo , Goldman Sachs and Morgan Stanley .
  • 1:25 PM » Treasury auctions $35 bln of 5-year notes at 0.71%
    Published Wed, Apr 24 2013 1:25 PM by Market Watch
    NEW YORK (MarketWatch) -- The Treasury Department sold $35 billion in 5-year notes Wednesday at a yield of 0.71%, the lowest yield since November 2012. Bidders offered to buy 2.86 times the amount of debt sold, compared to an average of 2.80 times at the last 4 sales. Indirect bidders, a group that includes foreign central banks, bought 43.6%, versus 40% in recent sales. Direct bidders, which includes domestic money managers, purchased another 14.0%, versus an average of 19.6%. The broader bond market for 5-year notes was higher after the auction, with yields at 0.687%. Yields on 10-year notes , which move inversely to prices, stayed at 1.70%.
  • 1:25 PM » Major contractors report little damage from sequestration
    Published Wed, Apr 24 2013 1:25 PM by Washington Post
    Defense contractors warned the automatic spending cuts known as sequestration would cause layoffs and facility closures, but nearly two months in, the biggest companies are reporting only a slight drop in sales. Read full article >>        
    Click Here to Read the Full Article

    Source: Washington Post
  • 12:05 PM » Federal Reserve Has Fueled Housing Rebound, Pimco's Cudzil Says - Bloomberg
    Published Wed, Apr 24 2013 12:05 PM by Bloomberg
    Federal Reserve Has Fueled Housing Rebound, Pimco's Cudzil Says Bloomberg The Federal Reserve's debt buying has helped housing both by holding down borrowing costs for home buyers and pushing investors to purchase properties instead of bonds, Pacific Investment Management Co.'s Michael Cudzil said. "It's definitely had a ...
  • 12:04 PM » Constancio Says ECB Stands Ready to Act on Bad Economic Data - Bloomberg
    Published Wed, Apr 24 2013 12:04 PM by Bloomberg
    Constancio Says ECB Stands Ready to Act on Bad Economic Data Bloomberg European Central Bank Vice President Vitor Constancio said policy makers are ready to provide more stimulus if data keep suggesting that the euro-area economy is struggling to emerge from recession. "We stand ready to act if economic conditions continue ... and more »
  • 12:00 PM » Chairman Hensarling Outlines Steps for Sustainable Housing Policy
    Published Wed, Apr 24 2013 12:00 PM by House Financial Services
      Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today's committee hearing on regulatory impediments to the re-entry of private capital in the housing finance sector.  The committee has been holding a series of hearings on the need to create a sustainable housing finance system: "This is the seventh full or sub- committee hearing that we have had on the topic dedicated to forging a new sustainable housing policy for America.  One that is sustainable for homeowners, one that is sustainable for taxpayers, one sustainable for our economy.  "Clearly all Americans want a healthier economy and they want a fair opportunity for all Americans to be able to buy a home they can actually afford to keep. It is clearly time to displace the false hopes and broken dreams which have arisen from a system of misdirected government policies that regrettably incented, browbeat, or mandated financial institutions to loan money to people to buy homes they all too often could not afford to keep.  "Regrettably, on this topic there have been a couple of recent disturbing press reports concerning actions of the administration.  On April 2, the Washington Post had the headline 'Obama Administration pushes banks to make home loans to people with weaker credit.' "Had the story been posted April 1, I might have thought it was an April Fools' joke.  I asked the question, 'Have we as a nation learned nothing?'  The article went on to say that the Obama housing officials were urging Obama justice officials to offer banks the equivalent of 'get out of jail free' cards if they would lend money to folks with weaker credit.    "Ed Pinto, the former top Fannie Mae executive and a recent witness before our committee, said in response, 'that would open the floodgates to highly excessive risk and would send us right back...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 11:11 AM » Why Housing Won't Save the U.S. Economy
    Published Wed, Apr 24 2013 11:11 AM by WSJ
    A new essay being presented this week, Amir Sufi of the University of Chicago's Booth School of Business, says we should "temper our optimism on what a housing recovery can do for the U.S. economy."
  • 11:09 AM » Foreshadowing a bear market
    Published Wed, Apr 24 2013 11:09 AM by Market Watch
    Despite plenty of prognostications declaring a bear market to be upon us, the market continues to march higher. However, the many reasons cited for a drop in prices may have finally reached a tipping point.
  • 11:07 AM » Barclays Reaps Benefit of Diamond's Purchase of Lehman in US - Businessweek
    Published Wed, Apr 24 2013 11:07 AM by Business Week
    Barclays Reaps Benefit of Diamond's Purchase of Lehman in US Businessweek Barclays Plc (BARC) is reaping the benefit of ex-Chief Executive Officer Robert Diamond's decision to buy Lehman Brothers Holdings Inc.'s North American unit, as the division helped to push equities revenue up 19 percent. First-quarter income at the equities ...
    Click Here to Read the Full Article

    Source: Business Week
  • 10:28 AM » FHA Watch, April 2013 (Vol. 2, No. 4)
    Published Wed, Apr 24 2013 10:28 AM by
    Any private financial institution that proposed to calculate its capital in the same manner as the FHA would be stripped of its charter before being escorted out of the room by its prudential regulator.
  • 9:46 AM » Stocks Open Mixed After Weak Durable Goods Orders Report
    Published Wed, Apr 24 2013 9:46 AM by CNBC
    Stocks struggled for direction at the open Wednesday, following a weaker-than-expected durable goods orders report and as Apple shares weighed.
  • 9:01 AM » S&P 500 Futures Erase Gain After Durable Goods Orders Decrease - Bloomberg
    Published Wed, Apr 24 2013 9:01 AM by Bloomberg
    Bloomberg S&P 500 Futures Erase Gain After Durable Goods Orders Decrease Bloomberg U.S. stock-index futures erased gains after government data showed orders for durable goods fell more than forecast last month, damping optimism in the economy. Futures on the Standard & Poor's 500 Index expiring in June were down less than 0.1 percent ... and more »
  • 8:53 AM » Colbert Demolishes Reinhart & Rogoff
    Published Wed, Apr 24 2013 8:53 AM by The Big Picture
    Carmen Reinhart and Kenneth Rogoff’s 2010 debt study inspires austerity around the world, but grad student Thomas Herndon debunks the results. Austerity’s Spreadsheet Error The Colbert Report Get More: Colbert Report Full Episodes,Indecision Political Humor,Video Archive Colbert Report, April 23, 2013 07:43
    Click Here to Read the Full Article

    Source: The Big Picture
  • 8:47 AM » Durable goods orders fall broadly as factories cool
    Published Wed, Apr 24 2013 8:47 AM by Reuters
    WASHINGTON (Reuters) - Orders for long-lasting manufactured goods recorded their biggest drop in seven months in March and a gauge of planned business spending rose modestly, adding to signs of a slowdown in factory activity.
  • 8:47 AM » Treasurys swing to gains on durable goods report
    Published Wed, Apr 24 2013 8:47 AM by Market Watch
    NEW YORK (MarketWatch) -- Treasurys swung from morning losses to gains Wednesday on the heels of a report showing durable-goods orders sank 5.7% in March. The 10-year note yield dropped nearly a basis point on the day to 1.704% while the 5-year note yields also dropped nearly a basis point to 0.693%. The 30-year bond yield was also down nearly a basis point to 2.899%. Economists surveyed by MarketWatch had expected a 3.2% drop in durable goods orders, but the transportation sector led the way to further softening in the monthly data point.
  • 8:47 AM » The Austerity Zombies Fight Back
    Published Wed, Apr 24 2013 8:47 AM by CNBC
    Still claiming debt slows growth.
  • 8:41 AM » Housing Rebound in U.S. Hampered by Own Success as Costs Climb - Bloomberg
    Published Wed, Apr 24 2013 8:41 AM by Bloomberg
    Housing Rebound in U.S. Hampered by Own Success as Costs Climb Bloomberg Even as U.S. housing rebounds from its worst downturn since the 1930s, production bottlenecks are pushing up building-materials costs, land prices are rising and skilled labor ready to begin work is hard to find. Suppliers of glass, drywall and wood products, ...
  • 8:27 AM » Italy's Debt Costs Plummet as Political Deadlock Nears End
    Published Wed, Apr 24 2013 8:27 AM by CNBC
    Italy's two-year borrowing costs fell to their lowest point since 1999 on Wednesday as president Giorgio Napolitano appeared ready to announce his choice of prime minister.
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Mortgage Rates:
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