The New York Times rambles, and mangles mortgages along the way

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits

WATCH: Trulia stages haunted house for unsuspecting homebuyers

'Tis the season. For screaming.

10 reasons why people don’t get a mortgage

It’s not just because of finances
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Items Tagged with 'Federal Reserve Board'

ARTICLES

Even Ben Bernanke can’t refinance right now

Suggests lenders may have “gone a little bit too far"
Ben Lane
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.
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Lawmakers demand more controls on Fed bailout power

Warren, Vitter, Brown, & others lead charge to change "too big to fail" plans
Ben Lane
In the letter, the lawmakers write that the Fed’s proposed rule under Section 1101 "places no meaningful restrictions on its emergency lending powers, and in a time of crisis, invites the same sort of backdoor bailout we witnessed five years ago."
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Federal regulators order big banks to fix “living wills”

Bank of America, JPMorgan Chase, others told to fix bankruptcy plans
Ben Lane
"The living wills before us fail to fully acknowledge these issues and ignores other operational issues," said Thomas Hoenig, FDIC vice chairman. "They demonstrate little ability to cope adequately with failure without some form of government support. The economy would almost surely go into crisis."
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Fed Board now required to have one community banker

Senate amendment reserves one seat for community banks
Ben Lane
The amendment states, “In selecting members of the Board, the President shall appoint at least 1 member with demonstrated primary experience working in or supervising community banks having less than $10,000,000,000 in total assets.”
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Old National Bank merges with United Bank & Trust

Merged bank would become 98th largest bank in U.S.
Ben Lane
Upon consummation of the merger, Old National would become the 98th largest depository organization in the United States, with consolidated assets of approximately $11.2 billion.
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Fischer sworn in as Fed vice chairman

Brainard and Powell also sworn in as Fed Governors
Ben Lane
The Federal Reserve Board of Governors now has a vice chairman, a new member and one member who will be around for a second term.
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Stanley Fischer sworn in as Fed Governor

Ben Lane
President Obama nominated Fischer on Jan. 13, 2014, and the United States Senate confirmed him as a Board member on May 21. Fischer was also nominated to serve as Vice Chair of the Fed Board. However, his confirmation for that position is still pending Senate approval.
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Bank CEO banned for buying condo with TARP money

Used $381,487 to buy himself a condo in Florida
Ben Lane
According to the Federal Reserve Board, former bank CEO Darryl Woods took $381,487.45 of TARP funds to purchase a condo for himself in Fort Meyers, Fla.
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Now accepting applications for Fed Governor

Jeremy Stein steps down after two years
Brena Swanson
After two years of service, Jeremy Stein submitted his resignation as a member of the Board of Governors of the Federal Reserve System, returning to his teaching position in Harvard University’s department of economics.
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Yellen approved as Fed Chair with weak support

New chair faces uphill battle, questions on Fed's continuing shepherding
Trey Garrison
New Fed Chair Janet Yellen faces an uncertain economy and contentious partners in dealing with a weak economy and a tepid recovery.
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