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  • Tue, Sep 3 2013
  • 10:13 PM » July Las Vegas Home Sales Rise on Absentee Buyers
    Published Tue, Sep 03 2013 10:13 PM by DataQuick
    Las Vegas Region July Home Sales Las Vegas-area home sales rose in July as absentee buyers continued to account for over half of all activity and sales above $300,000 more than doubled compared with a year earlier. The median price paid for a home - $173,000 - rose year-over-year for the 16th consecutive month to the highest level in four and a half years, a real estate information service reported. In July, 4,812 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County). That was up 1.5 percent from the month before and up 12.0 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. On average, sales between June and July have declined 8.0 percent since 1994, when DataQuick's complete Las Vegas-area statistics begin. Total home sales have increased year-over-year for the past four months, following 10 consecutive months of year-over-year sales declines. Total July sales in the Las Vegas region were the highest for that month since 2009 and were 0.3 percent below the average number of homes sold during all months of July since 1994. However, resales of houses and condos combined were 24.4 percent above average for the month of July, while sales of newly built homes were 55.0 percent below average. The number of mid- to high-end home sales continued to jump from year-ago levels, while low-end activity declined sharply again. Sales of homes priced below $100,000 dropped 41.5 percent in July compared with a year earlier, while the number of transactions below $200,000 fell 14.0 percent year-over-year. The number that sold for more than $200,000 surged 99.9 percent year-over-year, pushed up by the combination of home price appreciation and strong sales in mid- to high-end markets. July sales of homes priced from $200,000 to $500,000 - a range that would include many move-up purchases - jumped 101.4 percent from a year earlier, while the number...
  • 10:10 PM » S&P Calls U.S. Lawsuit 'Retaliation' for U.S. Downgrade - Bloomberg
    Published Tue, Sep 03 2013 10:10 PM by Bloomberg
    S&P Calls U.S. Lawsuit 'Retaliation' for U.S. Downgrade Bloomberg McGraw Hill Financial Inc. (MHFI)'s Standard & Poor's unit called the $5 billion fraud lawsuit filed against it by the federal government "retaliation" for the ratings company's downgrade of U.S. creditworthiness. S&P said the government brought "selective,  ...
  • 10:09 PM » JPMorgan to pay $18.3 million to settle mortgage lawsuit
    Published Tue, Sep 03 2013 10:09 PM by Reuters
    (Reuters) - JPMorgan Chase & Co has agreed to pay $18.3 million to settle claims that documents for mortgages acquired by a unit of Bear Stearns Cos failed to disclose material information about interest rates.
  • 10:08 PM » JPMorgan, ex-Bear Stearns managers win dismissal of BofA lawsuit
    Published Tue, Sep 03 2013 10:08 PM by Reuters
    NEW YORK (Reuters) - JPMorgan Chase & Co and former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin won the dismissal of a lawsuit in which Bank of America Corp accused them of causing heavy losses by lying in a desperate bid to prop up two failing hedge funds.
  • 10:07 PM » Kerry opens door to 'boots on ground' in Syria, then slams it shut
    Published Tue, Sep 03 2013 10:07 PM by Reuters
    WASHINGTON (Reuters) - Secretary of State John Kerry briefly opened the door on Tuesday to authorizing U.S. ground troops in Syria, but quickly slammed it shut and told Congress that any resolution approving military force would prohibit "boots on the ground."
  • 5:49 PM » S&P seeks dismissal of fraud lawsuit
    Published Tue, Sep 03 2013 5:49 PM by CNBC
    S&P blasted a $5 billion fraud lawsuit by the US as retaliation for striping the country of its "AAA" credit rating.
  • 4:20 PM » The Myth of Part-Time America
    Published Tue, Sep 03 2013 4:20 PM by The Atlantic
    The first thing you would expect from a true Part-Time America is a growing number of part-time workers. Instead, there are fewer.        
  • 4:17 PM » Job growth seen accelerating, may cement Fed tapering
    Published Tue, Sep 03 2013 4:17 PM by Reuters
    WASHINGTON (Reuters) - U.S. employers likely stepped up hiring in August, potentially paving the way for the Federal Reserve to start cutting back its gigantic bond purchases program later this month.
  • 3:39 PM » Breaking News from CNBC's Kayla Tausche: JPMorgan, Morgan Stanley Lead Largest-Ever Loan for Verizon Deal
    Published Tue, Sep 03 2013 3:39 PM by CNBC
    Breaking News from CNBC's Kayla Tausche: JPMorgan, Morgan Stanley Lead Largest-Ever Loan for Verizon Deal
  • 2:59 PM » S&P says DOJ lawsuit was retaliation to downgrade
    Published Tue, Sep 03 2013 2:59 PM by Market Watch
    NEW YORK (MarketWatch) -- Standard & Poor's Rating Services said Tuesday that a lawsuit filed by the Justice Department earlier this year was "retaliation" for the firm's downgrade of the U.S. in August 2011, according to a report in The Wall Street Journal. The ratings firm, a unit of McGraw Hill Financial Inc. , said in a court filing the Feb. 4 lawsuit was motivated by the downgrade and violates the firm's "free speech rights with respect to the creditworthiness of the United States of America," according to report. The Justice Department lawsuit against S&P alleges the ratings firm falsely characterized its ratings leading up to the financial crisis as independent, while inflating ratings to gain new business.
  • 2:19 PM » U.S. Economic Confidence Lingers at Lower Level in August
    Published Tue, Sep 03 2013 2:19 PM by www.gallup.com
    Gallup's U.S. Economic Confidence Index was -13 in August, similar to the -12 in July, but down from the monthly high of -7 in May. Upper-income Americans' confidence fell into negative territory after being positive for three months.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 2:19 PM » MARS Rule Changing Short Sales & Mortgage Relief
    Published Tue, Sep 03 2013 2:19 PM by www.ourbroker.com
    It used to be that there were plenty of people who could grease the wheels if you got into mortgage trouble. Instead of a short sale or foreclosure these lovely folks — some of whom claimed government recognition and approval — would negotiate for you with the lender so you could walk away from the […] MARS Rule Changing Short Sales & Mortgage Relief is a post from: OurBroker.com -- Refinance, Home Mortgage Loans & Rates, Home Equity Loan
    Click Here to Read the Full Article

    Source: www.ourbroker.com
  • 2:18 PM » Obama makes his Syria case to Congress
    Published Tue, Sep 03 2013 2:18 PM by CNBC
    The White House is pushing hard for a strike on Syria. NBC News reports.
  • 1:32 PM » D.C. Bar hosts presentation on CFPB enforcement priorities
    Published Tue, Sep 03 2013 1:32 PM by www.cfpbmonitor.com
    Reid F. Herlihy The District of Columbia Bar recently hosted a presentation on CFPB enforcement priorities. The sole speaker was Mr. Hunter Wiggins, Deputy Enforcement Director of Policy and Strategy of the CFPB’s Supervision, Enforcement & Fair Lending Division. Mr. Wiggins outlined the structure of the enforcement policy and strategy group, and offered some insight into the factors... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 12:35 PM » Refinance Volume Down Slightly in Second Quarter
    Published Tue, Sep 03 2013 12:35 PM by FHFA
    September 3, 2013: Refinance Volume Down Slightly in Second Quarter
  • 12:03 PM » Researchers Look at How Greenspan Forged Fed Consensus
    Published Tue, Sep 03 2013 12:03 PM by WSJ
    When he ran the Federal Reserve, it was Alan Greenspan's way, all the way, at least when it came to monetary policy making.
  • 12:02 PM » What's the Difference Between Jobless and Unemployed?
    Published Tue, Sep 03 2013 12:02 PM by WSJ
    A full accounting of discouraged workers would need to include those who have retired involuntarily, taken refuge in school, filed for disability or otherwise hidden from the brutal job market. Those people are victims of the recession, but they don't count as "unemployed."
  • 12:01 PM » Obama launches push for support on Syria, calls for quick action in Congress
    Published Tue, Sep 03 2013 12:01 PM by Reuters
    WASHINGTON (Reuters) - President Barack Obama urged Congress on Tuesday to act quickly on a resolution authorizing use of military force against Syria, as he ramped up a lobbying effort to win support for limited strikes against President Bashar al-Assad's forces.
  • 12:01 PM » Boehner backs Obama on Syria
    Published Tue, Sep 03 2013 12:01 PM by CNBC
    John Boehner, said on Tuesday he would support President Barack Obama's call for military action in Syria and urged his colleagues in Congress to do the same.
  • 11:58 AM » Larry Summers and the closing of the Obama mind
    Published Tue, Sep 03 2013 11:58 AM by CNBC
    The president's economic advisers uniformly support the nomination of Larry Summers as the next Fed chair. Is this because Summers is obviously the best candidate or has the administration fallen prey to conformism?
  • 10:34 AM » LPS' July Mortgage Monitor: Despite Interest Rate Hikes, Origination Volume Remains Stable
    Published Tue, Sep 03 2013 10:34 AM by LPS
    LPS' July Mortgage Monitor: Despite Interest Rate Hikes, Origination Volume Remains Stable<br/>http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20130903.aspx
  • 10:32 AM » Construction Spending in U.S. Climbed in July to Four-Year High - Bloomberg
    Published Tue, Sep 03 2013 10:32 AM by Bloomberg
    Construction Spending in U.S. Climbed in July to Four-Year High Bloomberg Construction spending in the U.S. increased in July to the highest level in four years, propelled by gains in residential real estate. Outlays climbed 0.6 percent to a $900.8 billion annual rate, the most since June 2009, after being little changed in June, the  ...
  • 10:31 AM » Home prices push past rising rates, says report
    Published Tue, Sep 03 2013 10:31 AM by CNBC
    Rates have been trending higher on expectations that the Fed will begin to taper its investments in mortgage-backed securities. Home prices are also trending higher in part due to fewer distressed properties for sale.
  • 10:31 AM » Stocks rally at open as immediate Syria worries ease
    Published Tue, Sep 03 2013 10:31 AM by CNBC
    Stocks opened sharply higher Tuesday as investors returned from a long holiday weekend, boosted by positive global PMI data and as President Barack Obama opted to seek congressional authorization for military action against Syria.
  • 10:31 AM » ISM manufacturing index drops to 55.7 vs. 54 est; construction spending up 0.6% vs. 0.4% est.
    Published Tue, Sep 03 2013 10:31 AM by CNBC
    Economists polled by Reuters had expected the U.S. Institute of Supply Management's index of national factory activity to fall to 54 in August from 55.4 the month before. Construction spending in July was forecast to increase 0.4 percent after a 0.6- percent drop in June. This is a breaking news article.
  • 9:32 AM » CoreLogic Reports July Home Prices Rise by 12.4 Percent Year Over Year
    Published Tue, Sep 03 2013 9:32 AM by www.corelogic.com
    --Analysis Projects Year-Over-Year HPI Growth of 12.3 Percent in August-- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its July CoreLogic Home Price Index (HPI ® ) report. Home prices nationwide, including distressed sales, increased 12.4 percent on a year-over-year basis in July 2013 compared to July 2012 . This change represents the 17 th consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.8 percent in July 2013 compared to June 2013 *. Excluding distressed sales, home prices increased on a year-over-year basis by 11.4 percent in July 2013 compared to July 2012. On a month-over-month basis, excluding distressed sales, home prices increased 1.7 percent in July 2013 compared to June 2013. Distressed sales include short sales and real estate owned (REO) transactions. The CoreLogic Pending HPI indicates that August 2013 home prices, including distressed sales, are expected to rise by 12.3 percent on a year-over-year basis from August 2012 and rise by 0.4 percent on a month-over-month basis from July 2013. Excluding distressed sales, August 2013 home prices are poised to rise 12.2 percent year over year from August 2012 and by 1.2 percent month over month from July 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month. "Home prices continued to surge in July," said Dr. Mark Fleming, chief economist for CoreLogic. "Looking ahead to the second half of the year, price growth is expected to slow as seasonal demand wanes and higher mortgage rates have a marginal impact on home purchase demand." "Home prices continue to climb across the nation in July with markets hit hardest during the...
    Click Here to Read the Full Article

    Source: www.corelogic.com
  • 9:32 AM » In U.S., Self-Reported Spending in August Best in Five Years
    Published Tue, Sep 03 2013 9:32 AM by www.gallup.com
    Americans' self-reported daily spending averaged $95 in August, up from $89 in July and the highest single-month average Gallup has recorded since September 2008.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:20 AM » U.S. factory activity slips in August: Markit
    Published Tue, Sep 03 2013 9:20 AM by Reuters
    NEW YORK (Reuters) - U.S. manufacturing activity eased in August as output grew at the slowest pace in 10 months, but demand picked up and inventories fell, suggesting growth may soon speed up, an industry report showed on Tuesday.
  • 9:20 AM » U.S. banks turn to subprime auto loans as delinquencies fall
    Published Tue, Sep 03 2013 9:20 AM by Reuters
    (Reuters) - U.S. banks are making more of their car loans to subprime borrowers as delinquencies fall and as automobile manufacturers' finance subsidiaries draw the more-reliable customers, according to data released on Tuesday.
  • 8:28 AM » Futures surge as potential Syria action delayed
    Published Tue, Sep 03 2013 8:28 AM by Reuters
    NEW YORK (Reuters) - U.S. stock index futures jumped on Tuesday after U.S. President Barack Obama opted to seek congressional authorization for military action against Syria, a move that was likely to delay any strike.
  • 8:26 AM » Halting easy money could derail recovery: OECD
    Published Tue, Sep 03 2013 8:26 AM by CNBC
    The global economic recovery is at risk of being derailed if the "unconventional" monetary policies which have injected cheap loans into the financial system are not maintained, the Organisation for Economic Co-operation and Development has warned.
  • 12:36 AM » Simple. Thrifty. Living.: What Is the Optimal Credit Score?
    Published Tue, Sep 03 2013 12:36 AM by The Huffington Post
    Truthfully, the highest credit score is not the score you should be shooting for. The whole point of a credit score is to get you the best rates and credit limits when you are applying for loans and credits. While it seems like the highest score would get you the best rates, you actually don't even need to aim that high. What Is the Best Credit Score You Can Receive? The best credit score you can get on the FICO scale is a 850, but that score is near impossible to attain. You would need to have the perfect storm of credit utilization (probably zero balances with very high credit limits), a long spotless credit history, and no negative marks on your credit report, which is nearly impossible. And even with all of those factors, 850 can still be unattainable. So what score should you be shooting for? What Is the Optimal Credit Score? If you are looking for the best rates and the highest credit limits, you should aim for a credit score of 760, according to FICO. Anything above a 760 is just going to be for bragging rights, since a score of 760 or above will get you the best rates and credit limits. Most businesses use similar cutoff points when determining your rate or credit limit. Say you have below a 700, you might be in a different bracket with higher rates than someone with a 705, so always make sure you are doing everything you can to keep your credit score as healthy as you can. How to Get the Optimal Credit Score 1. Keep paying things on time: The most important thing to remember is to keep your credit report clean from here on out. Pay your bills on time. Make sure you aren't over your limit on any of your credit cards. Keep the balances on your credit cards low. Keeping your finances clean is the best way to raise your score. 2. Don't cancel any of your credit cards: This may seem counterintuitive, but canceling credit cards actually lowers your credit score. Part of your credit score is based on how much credit you utilize (your credit utilization...
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 12:35 AM » Misconceptions About Fed's Bond Buying - Bloomberg
    Published Tue, Sep 03 2013 12:35 AM by Bloomberg
    Bloomberg Misconceptions About Fed's Bond Buying Bloomberg To combat the recession that began in 2007, the Federal Reserve and some other central banks have been buying large amounts of long-term bonds. The novelty of this quantitative easing makes the policy especially prone to popular misconceptions.
  • 12:35 AM » Summers the next big risk for markets?
    Published Tue, Sep 03 2013 12:35 AM by CNBC
    Any scale-back in U.S. monetary stimulus would be ramped up by a hawkish Larry Summers if he became Fed chief and deal a further blow to the battered emerging markets.
  • 12:32 AM » How Foreign Criminals Are Laundering Money Through Miami Real Estate
    Published Tue, Sep 03 2013 12:32 AM by The Huffington Post
    Alvaro Lopez Tardon needed to launder tens of millions of dollars in proceeds from selling thousands of kilograms of cocaine trafficked from South America to Europe, so he turned to Miami condos, federal authorities say.
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 12:32 AM » Auto leasing surges to record high
    Published Tue, Sep 03 2013 12:32 AM by CNBC
    American car buyers have once again fallen in love with leasing, and data shows that it hit a record with 27.6 percent.
  • 12:32 AM » Wall Street Week Ahead: Jobs data could spur Fed action on stimulus
    Published Tue, Sep 03 2013 12:32 AM by Reuters
    NEW YORK (Reuters) - Wall Street is bracing for a wave of economic reports next week, including the August jobs report, which might prove decisive in determining whether the economy is strong enough for the Federal Reserve to dial back its bond purchases in mid-September.
  • 12:32 AM » Flow from equity and bond funds continue: TrimTabs
    Published Tue, Sep 03 2013 12:32 AM by Reuters
    NEW YORK (Reuters) - The recent decline in U.S. equities pushed investors to redeem $16.7 billion in U.S. equity mutual funds and exchange-traded funds (ETFs) in August through Wednesday, data from research provider TrimTabs showed on Sunday.
  • 12:31 AM » News Release - Fannie Mae Releases July 2013 Monthly ...
    Published Tue, Sep 03 2013 12:31 AM by Fannie Mae
    The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage- ...
  • 12:31 AM » Credit union regulator sues Morgan Stanley over mortgage losses
    Published Tue, Sep 03 2013 12:31 AM by Reuters
    (Reuters) - Morgan Stanley is being sued by a U.S. credit union regulator to recover losses on more than $566 million of residential mortgage-backed securities sold to two corporate credit unions that later failed.
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