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Fed Leaves Target Interest Rate at Record Low

by Mike Butler | Jun 22, 2011 | Brokers, Financing Loans, Realtors

The Federal Reserve said it is leaving its target on short-term rates in the 0-0.25% range, stating that the economy is recovering more slowly than expected and the labor market is weaker than anticipated.

Big Banks Penalized for Performance In Mortgage Modification Program

by Mike Butler | Jun 10, 2011 | Brokers, Financing Loans, Investors, Legal Action, Realtors

As the nation’s housing market continues to teeter, the Treasury Department on Thursday penalized three of the nation’s largest banks for subpar performance in administrating a government-sponsored program to modify mortgage loans for distressed homeowners. As part of...