Tag Archive for Borrowers

Counterparties: Central banks warn about central banks | Felix Salmon

The BIS annual report is out, and you probably won’t read a more depressing economic brief this year. The gruesome details: Global economic growth in advanced economies was halved last year, to 1.6%, amidst an “abysmal fiscal outlook”; we have “a global banking system that is still dependent on economic support”; bank credit spreads are…

CoreLogic: Negative equity props up home prices in toughest markets | HousingWire

“Negative equity is typically a demand-side obstacle to sales and refinances, but currently is also restricting the supply of homes for sale,” Khater said. In markets where more than half of borrowers are underwater, the average supply drops to 4.7 months, compared to 8.3 months in healthier areas. As a result of the restricted supply,…

Jobs Report Makes Federal Reserve More Likely to Act – NYTimes.com

WASHINGTON — The odds surely increased Friday that the Federal Reserve will ride again to the rescue of the faltering economic recovery, making borrowing a little cheaper for a little longer, as it has done repeatedly over the last four years. But the government’s announcement that employers added only 69,000 workers in May also highlights…

Ohio AG begins $75 million demolition program | HousingWire

Ohio Attorney General Mike DeWine will begin granting $75 million to local governments for the demolition of abandoned homes. The money comes from the $25 billion settlement with mortgage servicers approved in March. Ohio received $335 million in consumer relief, remediation to borrowers and funds directly to the state. More than 10,000 abandoned homes stretch…