States Steal Federal Foreclosure Funds at Their Own Peril
States Steal Federal Foreclosure Funds at Their Own Peril
By the Editors, Bloomberg, July 4, 2012
The U.S. housing market is showing tentative signs of life as demand for new homes and housing prices begin to rise in some areas.
Is The LIBOR Mortgage Finished?
By Peter G. Miller, Guest Columnist, July 3, 2012
Barclays Bank PLC — the huge British bank — has agreed to pay more than $450 million in fines for efforts to manipulate the LIBOR rate. Now an enlarged investigation is underway, one which could involve the pricing of U.S. mortgages. The “LIBOR” is the London Interbank Offered Rate, an interest index set by several British lenders based on the estimated cost to borrow from one another. Barclays is one of the banks that set the LIBOR rate, and the bank has now been fined for trying to fudge the numbers.
Celebration Should Be Put On Hold for Now
By Joel Cone, Staff Writer, July 3, 2012
On the surface, things sure are looking up these days when it comes to the nation’s housing sector as a whole. And the press is eating it up, declaring a housing recovery is underway.