Speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, Bernanke said that the market is so tight right now that he was unable to refinance his own home loan recently.
Also, newly released FOMC minutes from the 2008 reveal how the regulators misjudged the depth of the crisis at the beginning and stopped short of using the word "recession." Plus, did the FDIC close any banks in February?
Former Federal Reserve Chairman Ben Bernanke did not step away from the office for long. Just days after finishing his last Federal Open Market Committee meeting, he announced he will be affiliated with the Brookings Institution’s Hutchins Center on Fiscal and Monetary Policy.
Federal Reserve Chairman Ben Bernanke will preside over his last Fed policy meeting Tuesday and Wednesday. During his tenure as chairman, he managed to surprise industry experts by helping stabilize the market and restoring investor confidence. Here's a look back at his heavily criticized days leading the Fed.
One hopes that what he pretended was a joke will follow Fed Chairman Ben Bernanke for the remainder of his days, and will be the one line accompanying his picture in some future textbook on what not to do.
This will be the first full week of trading and everyone’s eyes will be on the upcoming release of December job data and the unemployment rate, and whether the numbers support the Fed’s decision to start tapering monthly bond purchases. The monthly BLS jobs data is among the top metrics watched by the Fed when it considers how to steer monetary policy.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More
The answer may be found somewhere between commandeering the entire process and “throwing it over the fence.” For lenders, paying more attention to the source of the data and information used in finalizing settlement (title searching, valuation and the like) could hold the key. This means data reporting collected in a more robust, accurate and verifiable fashion. Read More