Hub News

Report: Financial Sector ‘Rooting’ for Mortgage Rate Hikes

As mortgage interest rates continue to remain at historic lows, potential homebuyers are loving it and the financial sector is hating it. “There’s virtually nothing in the financial services area that’s benefiting from continued lower and lower rates,” Barclays CEO

House Eases Mortgage Lending Requirements With New Legislation

Last week, the House of Representatives approved legislation that will ease mortgage lending requirements in an attempt to undercut the Dodd-Frank law. The first measure eases curbs on lending measures for mobile and modular homes. The second measure reduces restrictions,

U.S. Justice Department Sues Quicken Loans for Mortgage Fraud

Quicken Loans is being charged with mortgage fraud by the U.S. Justice Department for approving hundreds of mortgage loans that didn’t meet federal standards. On Thursday, April 23, the Department of Justice reported that between September 2007 and December 2011,

Homebuyers Drive Rise in Mortgage Applications

According to the Mortgage Bankers Association (MBA), mortgage applications have risen in volume 2.3 percent this week. This has largely been due to purchase applications. “Purchase applications increased for the fourth time in five weeks as we proceed further into

Manhattan, Vancouver and London Real Estate Becoming Hotbeds for Wealthy Investors

Forget gold and stocks – real estate in Manhattan, Vancouver and London is where the wealthiest citizens of the world are now choosing to invest their riches. “The two greatest stores of wealth internationally today is contemporary art….. and I

GE in Early Talks to Sell Portfolio to Wells Fargo

Reuters reported on Monday that General Electric Co. is in early, confidential talks with Wells Fargo & Co. about potentially selling its entire U.S. commercial lending and leasing portfolio to the bank. According to a source familiar with the situation,

Looking to Invest in a Second Home? Do It Now

For those individuals considering investing in a second home, the time is now. As CNBC points out, with interest rates getting ready to rise from their historic lows at just about any moment, and inventory becoming increasingly tight, the purchase

Country Stars Lady Antebellum Team Up with QuickenLoans to Pay Fans’ Mortgages

Country music stars Lady Antebellum announced last week that they have teamed up with QuickenLoans to sponsor a sweepstakes in which the grand prize is a year’s worth of mortgage payments (up to $24,000). According to the rules of the

Jobless Claims Up 12,000 This Week

The Labor Department announced on Thursday that jobless claims are up 12,000 this week, bringing the total number to 294,000. “Continuing claims dropped just a bit from 2.31 to 2.268, where they currently stand,” CNBC’s Rick Santelli added. Although these

Complex Tax Rules Costing Small Business Big Money

Now that Tax Day has come and gone, CNBC has released a new report outlining the difficulties small business face each year when filing their taxes. According to the news source, Americans invested an extra $234 billion last year alone

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