New Fed Rules May Hamper Mortgage Lending

Check out the story from Money News. 

New liquidity rules for banks will put a drag on mortgage lending, one of the most important sectors of the economy, a finance expert predicts in an article for American Banker.
The Federal Reserve's proposed Liquidity Coverage Ratio rule attempts to ensure that large banks have enough liquid assets to survive a severe liquidity crunch, says Clifford Rossi, a professor at the Robert H. Smith School of Business at the University of Maryland. Their high-quality liquid assets (HQLAs) would have to be at least 100 percent of net cash outflows during a 30-day stress period.

The idea is well intentioned, he says. The last financial crisis clearly showed that stronger liquidity provisions are needed. The problem is in the details, specifically defining HQLAs.

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett, 

Affordable Care Act Tax Hidden in Home Sales

Check out the story here. 

The Affordable Care Act or Obamacare seems to be in the headlines every day because of all of the problems surrounding the launch. And while most realize the law is funded in part by the individual mandate and penalty tax, it is also being funded in ways that are not discussed as much in the media.
Luxury real estate broker Ron Aioso says there is a tax that is rarely discussed that also helps fund Obamacare. It is a tax on high-income taxpayers when they sell their homes.
Franklin Lakes, N.J. was listed on Forbes.com in 2010 as one of "America's Most Expensive ZIP Codes", with a median home price of $1.3M.

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett, 

US jobless see setback; trade imbalance widens unexpectedly

CNBC has the weekly figure. 

The number of Americans filing new claims for unemployment benefits fell last week, butan upward revision to the prior week's figure suggested the labor market recovery remained gradual.
Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 339,000, the Labor Department said onThursday. Claims for the prior week were revised to show 5,000 more applications received than previously reported.Economists polled by Reuters had expected first-time applications to fall to 330,000 last week.

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett, 

Is Home Ownership for Suckers?

That provocative column courtesy of CNBC can be found here. 

The jokes were flying in October and I'm not talking just about the failedHealthCare.gov debacle, I'm speaking of real estate. The joke is on the naïve crowd who rushed to buy a home this summer as fears of missing the next great housing boom appeared.
Oops. Looks like housing is a bust, once again.

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett, 

US Seeks $864M From Bank of America After Fraud Verdict

Check out the story here. 

The U.S. government urged that Bank of America Corp pay $863.6 million in damages after a federal jury found it liable for fraud over defective mortgages sold by its Countrywide unit.In a filing late Friday in the U.S. District Court in Manhattan, the government also asked for penalties against Rebecca Mairone, a former midlevel executive at the bank's Countrywide unit who the jury also found liable, "commensurate with her ability to pay."
The government said the penalties were necessary to punish the bank and Mairone "and to send a clear and unambiguous message that mortgage fraud for profit will not be tolerated."

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett, 

Toll buying Shapell home building unit for $1.6 billion

Check out the details from CNBC. 

Toll Brothers is buying the homebuilding business of Shapell Industries for about $1.6 billion in a move that will strengthen its position in California.
Privately held Shapell, founded in 1955, builds luxury homes in the coastal markets of Northern and Southern California. The Shapell family will remain owners of its retail, commercial and multi-family businesses.

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett, 

Lenders relax standards on home loans

Check out the story here. 

Some mortgage lenders have loosened credit standards for homebuyers as demand for loans from refinancers slows, a Federal Reserve survey shows.

More than a quarter of the large banks in the report say they have somewhat eased the credit standards on residential mortgages over the past three months, according to the central bank's October senior loan officer survey.

Don't forget to the check out Ted Margaris Construction here.  Ted Margaris Construction in Chicago is also featured on Yelp, Super Pages, Yalwa, Local.com, Merchant Circle, Topix, Mojo pages,   Ez Local, Kudzu 2 Find Local, Crestwood Private Investor, A Locations, Cyclex USA  ,Show Me Local, B 2  Bye Yellowpages, Biz Wiki, QC Times, Facebook page,  twitter feed, PJ Star, My Web Times, Link Town, Local Pantagraph,Domain Tools,  NWI Times, and A Nett,