Personal Finance News Jan 2010

Ashford real estate trust completes hotel refi
AP - Ashford Hospitality Trust Inc., a hotel real estate investment trust, said Monday it finished a $19.7 million refinancing of its Hilton El Conquistador Hotel and country Club in Tuscon, Ariz. (Mon, 04 Jan 2010 21:03:54 GMT)

Ky. gov: State income tax refunds will be on time
AP - Kentuckians will get their state income tax refunds on time despite financial problems that have forced cuts in government services, Gov. Steve Beshear said Monday. (Mon, 04 Jan 2010 21:50:42 GMT)

AIG sells Canadian mortgage insurance unit
AP - The Canadian mortgage insurance business of American International Group Inc. will be sold to a private investor group headed by the Ontario Teachers' Pension Plan, the groups said Tuesday. (Tue, 05 Jan 2010 17:30:53 GMT)

GMAC expects $5B 4Q loss, selling mortgage assets
AP - GMAC Financial Services, the consumer lender now majority owned by the government, said Tuesday it expects to report a loss of about $5 billion in the fourth quarter thanks to deep writedowns on underperforming mortgage loans it plans to sell. (Wed, 06 Jan 2010 02:11:11 GMT)

Mortgage demand near six-month low as rates jump
Reuters - Demand for U.S. mortgages held last week near six-month lows as the highest long-term borrowing costs since August stifled refinancing, a Mortgage Bankers Association survey showed on Wednesday. (Wed, 06 Jan 2010 12:05:23 GMT)

Fed minutes show lingering concern over housing
Reuters - Some Federal Reserve officials worried last month that waning government support could snuff out a fragile housing market recovery and a few believed it might be desirable to step up asset purchases. (Wed, 06 Jan 2010 19:39:12 GMT)

Some Fed officials conflicted on mortgage program
AP - Some Federal Reserve policymakers last month were conflicted over whether to expand or cut back a program intended to drive down mortgage rates and bolster the housing market, according to a document released Wednesday. (Wed, 06 Jan 2010 21:12:16 GMT)

Minnesota Dems try again with foreclosure bill
AP - Minnesota Attorney General Lori Swanson and Democratic legislators said Wednesday that they will try again this year to enact a foreclosure mediation bill vetoed last year by Republican Gov. Tim Pawlenty. (Wed, 06 Jan 2010 22:12:10 GMT)

Business Highlights
AP - Some Fed officials conflicted on mortgage program (Wed, 06 Jan 2010 22:47:26 GMT)

Mich. gov candidates want to change business tax
AP - GOP gubernatorial candidate Rick Snyder wants to exchange Michigan's main business tax with a flat corporate income tax that would cost businesses less but could leave the state with $1.5 billion less in revenue each year. (Thu, 07 Jan 2010 00:48:25 GMT)

UK lender says house prices rose 1 pct in December
AP - U.K. house prices rose 1 percent in December, ending the year 1.1 percent higher than at the end of 2008, the country's biggest mortgage lender said Thursday. (Thu, 07 Jan 2010 11:43:35 GMT)

Rates on 30-year home loans fall to 5.09 percent
AP - Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month's record lows. (Thu, 07 Jan 2010 16:26:20 GMT)

County says NY lottery winners owe $1 million
AP - Richard and Mary Morrison have plans for their $165 million lottery jackpot: paying off their mortgage, opening a restaurant, and helping the poor, as well as Richard Morrison's pet cause of celebrating the Preamble to the U.S. Constitution. (Thu, 07 Jan 2010 22:33:54 GMT)

Fannie Mae relaxes Florida condo standards
AP - Fannie Mae is seeking to prop up Florida's ravaged real estate market by reviewing hundreds of condo projects in the state that currently don't qualify for its loans. (Thu, 07 Jan 2010 23:06:01 GMT)

AIG's US Life loses Calif. workers' comp appeal
AP - An appeals court has upheld an arbitration award requiring American International Group's U.S. Life Insurance Co. unit to pay more than $517 million in reinsurance to certain California workers' compensation insurers in liquidation. (Thu, 07 Jan 2010 23:07:05 GMT)

ALL BUSINESS: Big pay for Fannie, Freddie CEOs
AP - As the nation's thoughts turned to eggnog and gift-giving on Christmas Eve, the news hit: "Fannie Mae, Freddie Mac executive compensation significantly reduced." (Fri, 08 Jan 2010 16:20:34 GMT)

Financial regulators issue new guidelines to tighten oversight
AFP - International financial regulators on Friday issued new recommendations to toughen up regulation of the industry, including the mortgage sector, in a bid to prevent a repeat of the global credit crisis. (Fri, 08 Jan 2010 17:21:46 GMT)

Consumer borrowing falls sharply in November
AP - Americans borrowed less for a 10th consecutive month in November with total credit and borrowing on credit cards falling by the largest amounts on records going back nearly seven decades. (Fri, 08 Jan 2010 23:33:33 GMT)

Fed's Rosengren sees mortgage rate rise in spring
Reuters - U.S. home loan rates could rise by as much as three-quarters of a percentage point in the spring as the Federal Reserve ends its mortgage bonds purchase program, a top Fed policymaker said in an interview published on Saturday. (Sun, 10 Jan 2010 00:30:40 GMT)

2 GOP senators question Treasury on Fannie/Freddie
AP - Two Senate Republicans say they want the Treasury Department to explain why it gave a "blank check" to Fannie Mae and Freddie Mac by removing the $400 billion cap on how much money it would give the mortgage giants to keep them from failing. (Mon, 11 Jan 2010 22:27:56 GMT)

10 Cheap Ways to Boost Your Home's Sales Price by Spring
U.S. News & World Report - As the temperature drops and the snow piles up, it's easy to forget that spring is quickly approaching. And after more than three years of a painful housing swoon, real estate experts predict that lower prices, attractive mortgage rates, and a tax perk from Uncle Sam will create the most vibrant spring home selling season in some time. "This is going to be probably the most pleasant experience for a home seller in the last four or five years," says Mike Larson of Weiss Research. "If you have been beating your head against a wall, this is going to feel a lot better. ... (Tue, 12 Jan 2010 19:55:56 GMT)

Government officials probe 15 FHA lenders
AP - Federal housing officials on Tuesday served subpoenas on 15 mortgage companies with suspiciously high default rates for loans backed by the Federal Housing Administration. The actions are part of a broad crackdown on dubious lenders as the agency tries to stem losses. (Tue, 12 Jan 2010 23:00:25 GMT)

A Financial Lifeline for Foreign MBA Students
BusinessWeek - Admissions Director Rosemarie Martinelli remembers the panic she felt when she learned a program that the University of Chicago Booth School of Business(Booth Full-Time MBA Profile) was using for international student loans collapsed at the height of the frenzied 2008 fall admissions season. The CitiAssist loan program was the second lender to disappear at the time, and few, if any, other banks were willing to help international students secure funding. (Wed, 13 Jan 2010 11:46:53 GMT)

Mortgage applications rise in first week of 2010
Reuters - U.S. mortgage applications rose in the first week of 2010, reflecting surging demand for home refinancing loans as interest rates dropped, industry data showed on Wednesday. (Wed, 13 Jan 2010 15:29:27 GMT)

Obama, congressional Democrats meeting on health
AP - President Barack Obama and top Democrats tried shaping a final health overhaul bill on Wednesday in a White House meeting that underscored their desire to strike a quick deal on the administration's top domestic priority. (Wed, 13 Jan 2010 18:25:39 GMT)

Beyond Gold: New Ways to Invest in Precious Metals
U.S. News & World Report - Gold. Glenn Beck has sworn by it. So has radio personality Dennis Miller. Even Fred Thompson, in a way that only a U.S. senator turned Law & Order district attorney could, has stepped up to bat for it. And if you're an investor, chances are somebody you know has told you recently to buy it. (Wed, 13 Jan 2010 20:03:30 GMT)

Cut Your Taxes in 7 Easy Steps
The Motley Fool - Nobody wants to pay Uncle Sam any more than necessary. But you also don't want to end up on the receiving end of an IRS audit -- or worse. Luckily, there are plenty of perfectly legitimate ways to make sure you don't pay more than your fair share of income tax. (Wed, 13 Jan 2010 20:51:37 GMT)

Lower Taxes Are Always in Season
The Motley Fool - Many people think taxes are simply a chore, something to attend to once a year. Anyone with that attitude is probably leaving money on the table, whereas those who plan ahead to avoid paying unnecessary taxes are the real winners. (Wed, 13 Jan 2010 21:16:18 GMT)

Let's Hope These 4 Things Don't Happen
U.S. News & World Report - In the cast of corporate characters, Fannie Mae and Freddie Mac are A-list villains, thanks to the central role they played in the 2008 financial meltdown. The two mortgage-finance firms failed as spectacularly as AIG, the poster child for finance-gone-wrong, with the combined Fannie-Freddie rescue totaling about $111 billion so far--the biggest bailout of all. Both firms are effectively nationalized, and the government would probably wind them down except for one thing: They underwrite about three quarters of all the mortgages issued in the United States. (Wed, 13 Jan 2010 22:22:34 GMT)

Jackson Hewitt shares fall on tax-season troubles
AP - Shares of Jackson Hewitt Tax Service Inc. tumbled on Wednesday after the tax-return preparer said it expects to have only part of its tax-refund loan program in place by Friday's opening of tax season, and isn't certain it can secure financial backing to fully offer the program this tax year. (Wed, 13 Jan 2010 23:32:01 GMT)

U.S. 2009 foreclosures shatter record despite aid
Reuters - U.S. foreclosure actions shattered all records in 2009 and will do so again this year, with unemployment and wage cuts overcoming programs to remedy failing home loans, RealtyTrac said on Thursday. (Thu, 14 Jan 2010 10:23:29 GMT)

Rates on 30-year home loans fall to 5.06 pct
AP - Rates for 30-year home loans edged lower for the second straight week, a report said Thursday, but remained above last month's record lows. (Thu, 14 Jan 2010 16:23:21 GMT)

Ill. GOP gubernatorial hopefuls debate in Chicago
AP - Republicans running for Illinois governor promised to fight efforts by Democratic Gov. Pat Quinn to raise the state income tax, vowing to try to repeal it if lawmakers approve one before the November election. (Thu, 14 Jan 2010 16:23:54 GMT)

AG Holder pressed on FBI's mortgage fraud focus
AP - Attorney General Eric Holder told a commission investigating the financial crisis on Thursday he would find out whether anything was done in response to an FBI warning in 2004 of an "epidemic of mortgage fraud" that could plunge the country into financial collapse. (Thu, 14 Jan 2010 16:57:29 GMT)

Don't Get Scammed on Your Tax Refund
The Motley Fool - Itching to get your due from Uncle Sam? There are plenty of folks -- legit and otherwise -- who will happily promise to help you get a faster or bigger refund. My advice? Don't fall for any of the come-ons, no matter how tempting they sound. (Thu, 14 Jan 2010 20:11:31 GMT)

6 Things Investors Should Know About Taxes
The Motley Fool - Taxes have come a long way in 95 years. In 1913, paying income tax involved a simple a one-page form. Taxes ranged from 1% to 7%, and less than 1% of the population made enough money to have to pay the tax. (Thu, 14 Jan 2010 20:31:16 GMT)

Investor Ross possibly interested in teaming on Northern Rock
Reuters - Billionaire investor Wilbur Ross on Thursday said he was "quite possibly" interested in teaming up with Richard Branson's Virgin Money to bid for state-owned British bank Northern Rock. (Thu, 14 Jan 2010 20:41:20 GMT)

U.S. state regulators slam feds over financial crisis
Reuters - State regulators criticized their federal counterparts for letting the mortgage crisis spiral out of control and for hobbling their own attempts to avert the looming disaster. (Thu, 14 Jan 2010 21:33:23 GMT)

New unit investigates unfair lending to minorities
AP - A new unit of the Justice Department is investigating the lending practices of banks and mortgage brokers suspected of discriminating against minority borrowers. (Thu, 14 Jan 2010 22:09:53 GMT)

Fed's balance sheet liabilities hit record
Reuters - The U.S. Federal Reserve's balance sheet rose to a record level in the latest week, boosted by its ongoing efforts to support the mortgage market, Fed data released on Thursday showed. (Thu, 14 Jan 2010 22:41:41 GMT)

Former exec. of failed Atlanta bank pleads guilty
AP - A former executive at a failed Atlanta bank pleaded guilty Thursday to charges that he overvalued bank assets in a scheme that prosecutors said helped hide bloated accounting figures that could have alerted regulators to massive mortgage fraud. (Thu, 14 Jan 2010 22:58:10 GMT)

NJ man sentenced in $100M investment fraud case
AP - A New Jersey man has been sentenced to 18 years in prison and ordered to pay more than $100 million in restitution for masterminding what a judge described as one of the biggest real estate frauds in state history. (Thu, 14 Jan 2010 22:58:53 GMT)

Houston woman gets prison for $1M computer fraud
AP - A Houston woman who worked for a New Orleans mortgage lender has been sentenced to 30 months in federal prison for stealing more than $1 million from the company. (Fri, 15 Jan 2010 13:14:40 GMT)

Republican governor hopeful defends Ohio tax plan
AP - Republican gubernatorial candidate John Kasich said Thursday that he has picked a running mate in state Auditor Mary Taylor who shares his commitment to phase out Ohio's income tax to help the state's economy. (Fri, 15 Jan 2010 13:43:45 GMT)

Ky. House speaker favors rollback of sales tax
AP - House Speaker Greg Stumbo said he'd like to see a rollback of Kentucky's sales tax to 5 percent and the elimination of the state's corporate income tax. (Fri, 15 Jan 2010 14:39:58 GMT)

JPMorgan loan losses overshadow higher profit
Reuters - JPMorgan Chase & Co reported deep losses on mortgage and credit card loans in the fourth quarter, dashing hopes that consumer credit is on the mend and sending the bank's shares down 2.1 percent. (Fri, 15 Jan 2010 16:08:18 GMT)

Gov't mortgage plan aids 7 percent of borrowers
AP - The Obama administration's mortgage relief plan provided help to only 7 percent of borrowers who signed up last year, another black mark for the struggling program. (Fri, 15 Jan 2010 16:54:34 GMT)

IRS: Online tax filers can get refunds in 10 days
AP - Want a quick tax refund? File your federal return online and have the refund deposited directly into your bank account. (Fri, 15 Jan 2010 17:05:42 GMT)

Wall Street falls as JPMorgan results pressure banks
Reuters - U.S. stocks slid on Friday after JPMorgan Chase & Co reported deep fourth-quarter loan losses that raised concerns about earnings for the banking industry. (Fri, 15 Jan 2010 18:30:30 GMT)

Illinois Gov. Quinn still wants tax increase
AP - Illinois Gov. Pat Quinn says he's committed to raising the state income tax to come up with more money, even though he never used the phrase "tax increase" during his recent State of the State speech. (Fri, 15 Jan 2010 19:28:15 GMT)

Congressman mentioned to head life insurance group
AP - A spokeswoman for North Dakota Rep. Earl Pomeroy says he's not seeking the presidency of a Washington lobbying group for the life insurance industry. (Fri, 15 Jan 2010 20:32:31 GMT)

Do You Need a Living Trust?
The Motley Fool - There are several ways to handle your estate. Intestacy -- dying without a will -- is an option for some people with relatively simple finances. For others, a will can be a useful tool to take care of giving away your goodies -- but it can also open up the can of worms known as probate. (Fri, 15 Jan 2010 21:15:50 GMT)

Mutual Funds and Your Taxes
The Motley Fool - You might be thinking: "Goodness -- mutual funds buy and sell shares of stock each day. Do I have to account for each of these transactions?" The answer is no, you don't. (Fri, 15 Jan 2010 21:37:45 GMT)

Senate talks could dilute proposed consumer agency
AP - Senate banking negotiators are discussing plans that could significantly weaken — or even jettison — President Barack Obama's proposed independent consumer finance agency. (Fri, 15 Jan 2010 23:54:31 GMT)

Pomeroy mentioned for head of insurance group
AP - U.S. Rep. Earl Pomeroy is not seeking the presidency of a Washington lobbying group for life insurers, a spokeswoman said Friday, although an industry representative called the North Dakota Democrat a "natural" candidate for the job. (Sat, 16 Jan 2010 02:00:53 GMT)

Federal mortgage modification plan disappointing so far
The Christian Science Monitor - The Obama administration announced Friday that its much-lauded mortgage modification plan has had a disappointing start, helping far fewer Americans stay in their homes than originally hoped. (Sat, 16 Jan 2010 16:28:00 GMT)

Northern Rock renews Newcastle sponsorship
AP - Nationalized mortgage lender Northern Rock PLC said Monday it has signed a new four-year sponsorship deal with Newcastle United football club, worth up to 10 million pounds ($16 million). (Mon, 18 Jan 2010 11:57:13 GMT)

Swiss Re gets $1.27B in Warren Buffett deal
AP - Swiss Reinsurance Co. said Monday it transferred part of its U.S. life insurance business to American investor Warren Buffett's Berkshire Hathaway Inc. for 1.3 billion Swiss francs ($1.27 billion) to free up capital and invest it more profitably. (Mon, 18 Jan 2010 16:39:40 GMT)

New Rules for a Darwinian Economy
U.S. News & World Report - Scott Cohen spent 28 profitable years in the mortgage business, eventually starting his own firm just as the Southern California housing bubble was beginning to inflate in 2001. By 2007, the small company employed 15 people and provided enough income for Cohen, his wife, Merced, and their two kids to enjoy an affluent life in a tony Los Angeles suburb. But when the housing bubble burst, Cohen sold his business at a fire-sale price and watched in panic as the only industry he had ever worked in collapsed. His wife worked at the firm, too, and her job disappeared. ... (Tue, 19 Jan 2010 19:35:04 GMT)

5 Reasons Your Taxes Might Change
The Motley Fool - No matter what stage of life you're in, there's always something going on with your taxes that you need to know about. And you can learn more about taking care of your taxes no matter what's going on in your life. (Tue, 19 Jan 2010 20:57:47 GMT)

Find the Right Tax Pro Pronto!
The Motley Fool - The best $59.99 I ever spent to save my sanity was on a standard two-drawer vertical filing cabinet. Without it, I -- like the average taxpayer -- would probably spend close to 33 hours preparing my itemized return every year, including 14.6 hours slogging through tax records. Ooof. (Tue, 19 Jan 2010 21:38:39 GMT)

Six Republican senators take aim at Fannie, Freddie
Reuters - Six Republican senators took aim at the Obama administration's Christmas eve decision to give mortgage companies Fannie Mae and Freddie Mac unlimited access to a Treasury credit line. (Tue, 19 Jan 2010 22:27:31 GMT)

Ahead of the Bell: Housing Starts
AP - Housing construction likely grew for the second-straight month in December, but applications for building permits are expected to show a decline — a pair of mixed signals about the shaky housing market. (Wed, 20 Jan 2010 11:56:52 GMT)

U.S. mortgage demand up for third week as rates drop
Reuters - Demand for U.S. home loans rose last week for the third straight week as mortgage rates fell to a one-month low and stoked refinancing, an industry group said on Wednesday. (Wed, 20 Jan 2010 12:04:30 GMT)

Home construction dips; permit applications surge
AP - Construction of new homes dipped unexpectedly last month as bad weather hit much of the country. Applications for future projects, however, soared in a sign the industry is ramping up after a debilitating bust. (Wed, 20 Jan 2010 14:09:17 GMT)

Va. House panel sends income tax bill to floor
AP - A procedural move by Virginia House Republicans on Tuesday forces House Democrats to vote this week to either approve former Gov. Tim Kaine's $2 billion income tax increase or spurn the budget their national party chairman advocated. (Wed, 20 Jan 2010 15:28:58 GMT)

BofA loses $5.2B in 4Q as it repays bailout
AP - Bank of America Corp. said Wednesday it lost $5.2 billion during the final three months of 2009 as consumers struggled to make mortgage and credit card payments and the bank repaid its government bailout money. (Wed, 20 Jan 2010 16:18:31 GMT)

US Bancorp profit rises, but so do charge-offs
AP - U.S. Bancorp said on Wednesday that its fourth-quarter profit more than doubled from a year ago, as mortgage banking revenue grew. (Wed, 20 Jan 2010 17:27:16 GMT)

Tax Tips for Small Businesses
The Motley Fool - Starting a small business involves a host of little details -- some more complicated than others. One of the most complex involves how your business will be taxed. (Wed, 20 Jan 2010 17:29:37 GMT)

How to Prevent a Tax Disaster
The Motley Fool - Around the first week of April, kitchen tables nationwide will be taken out of commission by piles of tax records. The clutter is more than a mealtime inconvenience -- it could cost you some big bucks come tax time. (Wed, 20 Jan 2010 17:40:22 GMT)

Housing starts fall, but permits at 14-month high
Reuters - U.S. home starts unexpectedly fell last month as unusually cold weather hampered construction, but a jump in building permits to a 14-month high indicated the housing market recovery was intact. (Wed, 20 Jan 2010 17:52:15 GMT)

Mortgage pain persists for BofA, other big banks
Reuters - In a sign that the U.S. banking sector's problems are far from over, lenders including Bank of America Corp reported falling bond trading revenue and mortgage lending weakness in the fourth quarter. (Wed, 20 Jan 2010 18:35:09 GMT)

FHA increases premiums, tightens loan standards
The Christian Science Monitor - Ever since home mortgage lenders tightened their standards, home buyers without much money for a down payment have turned to the Federal Housing Administration (FHA), which was far more lenient. (Wed, 20 Jan 2010 21:13:59 GMT)

Small businesses can avoid a tax time train wreck
AP - For some small business owners, income tax filing season feels like a slow-motion train wreck. (Wed, 20 Jan 2010 22:58:26 GMT)

Sallie Mae posts 4Q profit, misses expectations
AP - The student lender best known as Sallie Mae reversed its year-ago loss and posted a fourth-quarter profit Wednesday, partly as a result of higher revenue from interest and fees. (Wed, 20 Jan 2010 23:05:19 GMT)

Democratic Utah lawmaker wants income tax increase
AP - Anyone in Utah who earns more than $250,000 a year would pay higher income taxes under a proposal being sponsored by a Democratic state lawmaker. (Thu, 21 Jan 2010 15:22:59 GMT)

Rates on 30-year home loans fall to 4.99 pct
AP - Rates for 30-year home loans fell to a shade below 5 percent this week but remained above last month's record lows. (Thu, 21 Jan 2010 17:00:48 GMT)

6 Smart Ways to Plan Your Estate
The Motley Fool - Despite what you may think, estate planning isn't all about what happens after you die. Besides death, there are plenty of other unpleasantries -- accident, injury, or other maladies that make you unable to manage your own affairs for a while -- that can go much more smoothly for you and your loved ones if you've prepared for them ahead of time. (Thu, 21 Jan 2010 18:17:03 GMT)

These Money Moves Will Keep Taxes at Bay
The Motley Fool - No matter the time of year, taxes are an important topic for investors. There are quite a few investment strategies you can use to lower your tax bill, retain as much of your pretax profit as possible, and give your after-tax bottom line a money-in-the-bank boost. (Thu, 21 Jan 2010 18:39:36 GMT)

Va. House GOP forces Dems vote on income tax bill
AP - Republicans in the Virginia House of Delegates forced a unanimous vote Thursday that killed former Democratic Gov. Tim Kaine's proposed income tax increase and the two-year budget it was intended to support. (Thu, 21 Jan 2010 21:59:20 GMT)

Cities, not just banks, are pursuing foreclosures, too
The Christian Science Monitor - Michael Rady worked at the docks for 15 years to pay off the mortgage on his Cleveland home. (Fri, 22 Jan 2010 18:20:32 GMT)

Treasury seeks dealer input on MBS purchases
Reuters - The Treasury Department said on Friday it will be seeking comments from bond dealers on the impact its purchases of mortgage-backed securities will have on fixed income markets. (Fri, 22 Jan 2010 18:32:02 GMT)

Make Your Tax Return IRS-Proof
The Motley Fool - Is there really such a thing as an audit-proof tax return? A way of preparing your return to guarantee that you won't be subject to an audit? Of course not. But there certainly are ways to minimize your risk. (Fri, 22 Jan 2010 20:45:23 GMT)

10 Things You Shouldn't Go Without
The Motley Fool - Odds are, there's an important document or two that you know you should have, but you just haven't gotten around to getting it yet. It might be your will, or a living will. See how many of the following 10 must-have documents are in your possession, and take action on the ones you haven't yet set up. (Fri, 22 Jan 2010 20:57:58 GMT)

Rep. Frank: Abolish Fannie Mae, Freddie Mac
AP - A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans. (Fri, 22 Jan 2010 22:12:30 GMT)

What Records Can You Really Throw Away?
The Motley Fool - Stashes of old, paid bills, expired life insurance policies, receipts for broken gadgets, and canceled checks for haircuts you got in college -- sound like your filing system? (Tue, 26 Jan 2010 21:09:39 GMT)

Judge grants ratings agencies a dismissal
Reuters - In a victory for ratings agencies, a U.S. judge on Tuesday dismissed claims against Moody's Corp and McGraw-Hill's Standard & Poor's in litigation over nearly $100 billion of Lehman Brothers Holdings Inc mortgage-backed securities. (Wed, 27 Jan 2010 00:17:06 GMT)

Lenders start sign up on 'piggyback' mortgage plan
AP - Mortgage companies are finally starting to sign up for a long-delayed piece of the Obama administration's $75 billion foreclosure-prevention program. (Wed, 27 Jan 2010 00:45:48 GMT)

H&R Block, Yodlee team to create tax prep app
AP - Tax preparation company H&R Block Inc. and personal finance management application developer Yodlee Inc. on Wednesday said they are teaming up to make it easier to use online data to prepare taxes. (Wed, 27 Jan 2010 22:14:20 GMT)

Countrywide scrapped Texas pact in December
AP - Bank of America canceled a jobs contract with Texas because the mortgage crisis and a complex merger were preventing its Countrywide Home Loans from adding the 7,500 jobs it promised to the state by late 2010, the company said Wednesday. (Wed, 27 Jan 2010 23:53:26 GMT)

California default notices fall 24 percent in 4Q
AP - Mortgage default notices for California homeowners fell 24 percent during the fourth quarter, suggesting the worst might be over for foreclosures in entry-level markets while problems spread to pricier neighborhoods, a research firm said Wednesday. (Thu, 28 Jan 2010 01:07:04 GMT)

Mortgage rates nearly flat this week
AP - Rates on 30-year mortgages remained almost flat this week as the Federal Reserve said it would keep rates near record lows to help the economy recover. (Thu, 28 Jan 2010 17:10:14 GMT)

Gov't eases paperwork for loan help program
AP - Homeowners seeking relief under the Obama administration's mortgage aid program must provide proof of their incomes upfront, the Treasury Department says. (Thu, 28 Jan 2010 18:30:10 GMT)

Obama admin: Make more modified home loans permanent
Reuters - The Obama administration unveiled changes to its $75 billion home loan modification program on Thursday in an effort to boost the number of trial home loans that become permanent. (Thu, 28 Jan 2010 20:01:52 GMT)

UK house prices, consumer confidence rise in Jan
AP - U.K. house prices rose 1.2 percent during January to push them 8.6 percent higher from a year ago, a major mortgage lender said Friday, while a separate survey showed consumer confidence picked up after a three-month drop. (Fri, 29 Jan 2010 11:43:04 GMT)

Lloyds reopens U.S. RMBS market with $1 billion deal
Reuters - Lloyds TSB raised $1 billion via a residential mortgage-backed bond on Friday, reopening a U.S. market that had been shut since mid-2008 because of the credit crunch. (Fri, 29 Jan 2010 16:47:18 GMT)

Calif. woman gets 3 years for huge mortgage fraud
AP - A former Beverly Hills real estate appraiser has been sentenced to three years in federal prison for her role in a massive mortgage fraud. (Fri, 29 Jan 2010 21:09:13 GMT)

ALL BUSINESS: Double standard in mortgage walkaway
AP - Tishman Speyer Properties walks away from 11,232 Manhattan apartments because it can't pay its mortgage. That's good business. (Sat, 30 Jan 2010 05:00:32 GMT)