Stocks pared losses, with the Dow briefly moving into positive territory Tuesday after the Federal Reserve took a cautious stance about the recovery. All three major stock indexes regained ground. After falling as much as 147 points earlier in the session, the Dow Jones industrial average was off 41 points, or 0.4%, with about 30 minutes left.
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“Unlike the bubble years, purchase application data, existing home sales, new home sales, housing starts and the lack of cash-out refinancing all point to slow and steady growth.”
Mr. Cooper (the company formerly known as Nationstar) is shutting down a Beaverton, Oregon office location that was part of the Seterus acquisition and eliminating all 301 positions at that location.