By Rick Rothacker – Lenders like Bank of America Corp and Wells Fargo & Co say they are facing mounting pressure to buy back bad mortgages they sold to investors, signaling that banks‘ home-loan headaches could continue for years.
When selling the mortgages, banks made promises or “representations and warranties” about the loans. Investors can ask banks to buy back soured mortgages if these promises were evidently broken, for reasons such as poor underwriting, insufficient verification of income or other documentation errors.
Banks have fought some of these claims, but most lenders still expect to have to buy back many of the mortgages. more> http://tinyurl.com/7vab96n
Posted in Banking, Business, Economy
Tagged Bank, Bank of America, Capital, Credit, Loan, Mortgage loan, Refinancing, United States, Wells Fargo
Shopping for Your Home Loan Become familiar with the various stages of the home-buying process, including deciding whether you are ready to buy a home, and providing factors to consider in determining how much you can afford to spend. Lenders … Continue reading
Euro bank notes Türkçe: Euro banknotlar
(Photo credit: Wikipedia)
Economist – The calm that descended in the wake of the European Central Bank‘s flood of cheap, long-term bank lendinghas broken. A trillion euros will buy you about four months, as it turns out. What happens now?
What are the euro zone‘s problems? Primarily:
- Peripheral workers are uncompetitive and easy routes to devaluation are off the table.
- Markets therefore question the ability of sovereigns to make good on their debts. In the absence of a lender of last resort to governments, yields rise and fears of insolvency are self-fulfilling.
- Because governments are individually responsible for domestic banking systems, this leads to fears of banking collapse, which feedback into the growth and debt problems. Without a printing press, governments can’t credibly promise to be bank-lender of last resort without further undermining solvency.
How has the euro area addressed the fundamental problems? The slow, grinding process of internal devaluation is underway but is a long way from completion. There have essentially been no active steps taken to facilitate internal rebalancing. more> http://is.gd/G53exg
Posted in Banking, Economy
Tagged Bank, Capital, Currency, Debt, European Central Bank, Eurozone, Government, Lender of last resort, Loan, Super regions
Mobiledia/Forbes – U.S. libraries are seeing increases in the numbers of borrowers who want digital books, with e-book lending rates nearly tripling over the past year.
Since libraries began lending e-books a few years ago, the industry has grappled to find a solution that pleases readers, publishers, and lending institutions alike.
Unlike printed books, e-books don’t wear out and can be circulated over and over again. Digital titles also can’t be lost, stolen, or damaged, meaning libraries won’t have to repurchase the title from the publisher in the future. more> http://is.gd/T1x1oi
Posted in Book review, Business, Economic development, Education, Media, Product, Technology
Tagged Amazon Kindle, Books, Business improvement, E-book, Electronics, Library, Loan, Penguin Group, Publishing