The Daily Reporter - WI Construction News & Bids » banks

Report: Mortgage ‘robo-signing’ goes on

Associated Press — Tue, 19 Jul 2011 15:37:50 +0000

By MICHELLE CONLIN and  PALLAVI GOGOI AP Business Writers Mortgage industry employees are still signing documents they haven’t read and using fake signatures more than eight months after big banks and mortgage companies promised to stop the illegal practices that led to a nationwide halt of home foreclosures. County officials in at least three states [...]

May foreclosure rate steadies as banks hold back

Associated Press — Thu, 10 Jun 2010 14:34:54 +0000

By ALAN ZIBEL AP Real Estate Writer WASHINGTON (AP) — The foreclosure crisis appears to be leveling off. The number of people facing foreclosure is nearly flat from a year ago, according to the latest report from a private foreclosure listing service. A third fewer people are receiving legal warnings that they could lose their [...]

Obama pitches aid for struggling small businesses (8:24 a.m. 2/2/10)

Joe Yovino — Tue, 02 Feb 2010 14:23:14 +0000

By DARLENE SUPERVILLE Associated Press Writer WASHINGTON (AP) — President Barack Obama’s bid to sell his economic agenda and re-energize voters picks up in politically significant New Hampshire, where he will again promote an idea to free up money for small businesses that are hurting. Obama travels to Nashua, N.H., on Tuesday to draw attention [...]

Common Ground should find some common ground

Chris Thompson — Fri, 29 Jan 2010 00:01:59 +0000

By Chris Thompson

editor

Milwaukee wants banks and other lending institutions to have a little skin in the foreclosure game. Southeastern Wisconsin Common Ground wants the entire hide.

Fed to strike upbeat note on economy (11:01 a.m. 12/16/09)

Wed, 16 Dec 2009 16:58:48 +0000

By JEANNINE AVERSA AP Economics Writer WASHINGTON (AP) — Focused on keeping the recovery going and driving down double-digit unemployment, the Federal Reserve is poised to leave interest rates at a record low. Fed Chairman Ben Bernanke and his colleagues resumed a two-day meeeting Wednesday. At the end of the meeting this afternoon, the Fed [...]

Obama to banks: ease lending to businesses (1:43 p.m. 12/14/09)

Mon, 14 Dec 2009 19:43:29 +0000

By DANIEL WAGNER and PHILIP ELLIOTT Associated Press Writers WASHINGTON (AP) — President Barack Obama challenged top bankers Monday to explore “every responsible way” to increase lending, saying they were obliged to help after being rescued by taxpayers. In a statement after more than an hour with the executives, Obama said he reminded them that [...]

Survey: Poor, minorities struggle to access banks (12:35 p.m. 12/2/09)

Wed, 02 Dec 2009 18:34:29 +0000

By Daniel Wagner AP Business Writer Washington — More than a million American households lost access to basic banking services such as savings accounts last year, bank regulators say. Those families are among 30 million households that have little or no access to such services, according to a survey released Wednesday by the Federal Deposit [...]

US banks prepaying $45 billion in insurance fees (10:34 a.m. 11/12/09)

Thu, 12 Nov 2009 16:33:59 +0000

By MARCY GORDON AP Business Writer WASHINGTON (AP) — U.S. banks will prepay about $45 billion in premiums to replenish a federal deposit insurance fund now in the red, under a plan adopted by federal regulators. The Federal Deposit Insurance Corp. board voted Thursday to mandate the early payments of premiums for 2010 through 2012. [...]

Fed: GMAC to receive more bailout money (2:12 p.m. 11/9/09)

Rick Benedict — Mon, 09 Nov 2009 20:12:11 +0000

WASHINGTON (AP) — The Federal Reserve says GMAC is the only one of 19 stress-tested banks that needs more capital to withstand a future downturn. The Fed says GMAC is expected to get more taxpayer money from the $700 billion financial bailout. The finance company is negotiating with Treasury over how much it will receive. [...]

G-20 finance officials: Too early to end stimulus (12:46 p.m. 11/8/09)

Rick Benedict — Sun, 08 Nov 2009 18:45:41 +0000

By JANE WARDELL AP Business Writer ST. ANDREWS, Scotland (AP) — Finance officials from rich and developing countries have pledged to maintain emergency support for their economies until recovery is assured, but failed to reach a clear agreement to bear the cost of fighting climate change. There was also a mixed reaction among the Group [...]

Bank boom adds 10,000 full-service branches

Rick Benedict — Tue, 18 Aug 2009 15:39:34 +0000

Frank Bass and Linda Stewart AP Writers Dallas — Banks expanded at a breathtaking pace over the past five years, adding more than 10,000 full-service branches, but barely 1 in 10 were in inner-city, minority neighborhoods, another sign the financial spending spree skipped over substantial parts of the country. The discrepancy means millions of people [...]

Commercial real estate market staggers through financial crisis

Rick Benedict — Thu, 23 Jul 2009 19:34:30 +0000

Alex Veiga AP Real Estate Writer The residential housing market went into a tailspin over a burst housing bubble and a whole lot of bad mortgages. The commercial real estate market has suffered a different sort of one-two punch. Between the recession and the financial crisis, many commercial property owners were left struggling, and many [...]

Bailout repayments could start in June

Rick Benedict — Tue, 19 May 2009 19:12:55 +0000

Martin Crutsinger AP Economics Writer Washington (AP) — The Federal Reserve said Tuesday that approval for big banks seeking to repay bailout money could start in early June. A Fed official said several of the country’s 19 largest banks that participated in the recent stress tests are interested in repaying the money they received from [...]

Fed says banks tightening loan standards

Rick Benedict — Mon, 04 May 2009 20:55:45 +0000

Jeannine Aversa AP Economics Writer Washington — A larger share of banks has made it more difficult for people to obtain home mortgages over the last three months even as demand has grown, the Federal Reserve reported Monday. The Fed’s new quarterly survey found that about 50 percent of U.S. banks tightened their lending standards [...]