Archive for the ‘Mortgage News Daily’ Category

Bank of America Chief Executive, Brian Moynihan, is considering a restructuring plan that could result in pink slips for roughly 40,000 employees. The move would be an attempt to try and bolster profits amid concerns about Bank of America's exposure to the slowing U.S. economy and a slew of mortgage-related losses and lawsuits. Paul Vigna discusses the plan with WSJ's Dan Fitzpatrick on The Markets Hub.

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CNBC's Steve Liesman has the breakdown of President Obama's proposal to Congress to spur job growth....(read more)

Insight on what needs to be done to fix the housing situation, with Frank Blake,Home Depot chairman/CEO, who says the housing market is bad but it looks more stable, and weighs in on how his business has fared in the housing slump....(read more)

Juliet Chung shows us a 20,000-square-foot waterfront mansion in Palm Beach, Fla., yours for just $74 million. Plus, Mark Wahlberg is listing Beverly Hills house for nearly $14 million and Peter Sperling, son of the University of Phoenix founder John Sperling, has dropped the price tag on his San Francisco limestone mansion by 41%, to $38.5 million....(read more)

Fed chairman, Ben Bernanke addresses the Economic Club of Minnesota on the U.S. economy, saying the nation's economic problems are more than just temporary and the Fed has a range of tools to provide additional stimulus....(read more)

Philadelphia Fed President and CEO Charles Plosser doesn't see a big risk of renewed recession but is skeptical the Federal Reserve has the tools to tackle unemployment. Paul Vigna and WSJ's Michael Derby talk with him about the economy, Europe's debt issues and inflation.

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CNBC's Diana Olick has the story on Fannie Mae's survey that unveils the housing mood in the U.S....(read more)

Sept. 8 (Bloomberg) -- Claims for U.S. unemployment benefits rose last week, a sign the labor market is struggling to gain traction more than two years after the recession ended. Jobless claims rose by 2,000 to 414,000 in the week ended Sept. 3, Labor Department figures showed today in Washington. Betty Liu reports on Bloomberg Television's "In the Loop." (Source: Bloomberg)

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"I think there is very little expectation from tonight's speech or anything that will happen in the next 18 months," says Donald Carty, former AMR chairman/CEO and Virgin America chairman, who adds that uncertainty lies in whether the economic issues will get fixed and when....(read more)

Sept. 7 (Bloomberg) -- Ian Lyngen, a senior government bond strategist at CRT Capital Group LLC, talks about the Treasury market's possible response if the Federal Reserve decides to replace short-term Treasury securities in its $1.65 trillion portfolio with long-term bonds at its Sept. 20-21 meeting. Lyngen, speaking with Lisa Murphy on Bloomberg Television's "Fast Forward," also discusses the outlook for the 10-year note. (Source: Bloomberg)

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