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Fri Feb 03, 2012
In a report released Friday morning by the Bureau of Labor Statistics that could be described only as the Republicans’ worst nightmare, the economy added 243,000 jobs in January the strongest month-to-month gain since last March as the unemployment rate fell to 8.3 percent. The unemployment rate, the number of people employed, and the number unemployed were at their best levels since President Obama took office in January 2009. Economists had anticipated about 155,000 new jobs in January.
New York Attorney General Eric Schneiderman has filed a lawsuit against the nation’s top three mortgage lenders charging that their use of the electronic registry system MERS has resulted in deceptive and fraudulent foreclosure filings throughout New York’s state and federal courts. The lawsuit alleges that employees of Bank of America, JP Morgan Chase, and Wells Fargo, acting as “MERS certifying officers,” submitted court documents containing false information. MERS is also named as a defendant.
Labor Department reports first-time claims fell by 12,000, continuing claims dropped 130,000. Read More
Average mortgage interest rates have reversed from the upward blip reported last week. Declines this week completely erased the previous week's increases, as the average rate attached to the 30-year fixed-rate mortgage, ... read more
President Obama on Wednesday outlined his proposal to allow millions more homeowners to cash in on today's historically low mortgage rates. He issued a call to Congress to pass legislation to establish a streamlined refi ... read more
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