General World News

The Biden administration reportedly spent months preparing for an inflation spike that hasn’t come yet — and it’s still worried

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Summary List Placement The Biden administration spent much of its first days in office testing how further stimulus might drive inflation higher. No modeled scenario saw price growth surge out of control, The New York Times reported on Wednesday. Still, the report said repeatedly that White House and Treasury officials are “worried” about the issue. […]

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Senate Democrats want to replace most of your lost paycheck with permanently boosted unemployment benefits

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Summary List Placement A pair of Senate Democrats introduced a plan on Wednesday to permanently boost unemployment benefits, making state checks larger to cover most of a worker’s lost wages. The plan from Sens. Ron Wyden and Michael Bennet would also set up a $250 “jobseeker allowance” for gig workers and contractors — essentially a […]

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NewRez to acquire Caliber in $1.7B deal

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Acquisitions-hungry New Residential Investment Corp. (NewRez) has agreed to acquire multichannel lender Caliber Home Loans in a deal valued at $1.675 billion, the firms announced on Wednesday. The agreement with NewRez, a publicly traded mortgage REIT, comes roughly six months after Lone Star Funds attempted to take Caliber public. Since the independent public offering fell […]

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Mortgage applications continue to fall, inventory remains low

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Mortgage applications declined for the week ending April 9, according to the latest report from the Mortgage Bankers Association. It’s the sixth consecutive week of falling mortgage applications. Applications were down 3.7% from the week ending April 2, with rising mortgage rates and low inventory contributing to the slowdown and leading to a decline in purchase […]

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The purchase mortgage market is back on top

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The share of refinances in mortgage origination volume dipped below 50% for the first time in 15 months in March, according to Black Knight‘s new monthly data report, the Originations Market Monitor. With interest rates continuing to tick up, the purchase mortgage market is where most lenders will focus operations over the next year. Since […]

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GOP senator says bipartisan infrastructure group wants to double Biden’s spending on roads and bridges

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Summary List Placement Sen. Bill Cassidy, a Republican on the Senate Finance Committee, indicated another major infrastructure plan was being drafted by lawmakers searching for another option besides President Joe Biden’s $2.3 trillion proposal. “I’ll be meeting with governors and bipartisan group of senators and [representatives] on a bill which will be an alternative to […]

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These 6 jobs make over $90k a year and are expected to grow the fastest by 2029. Here are the online master’s degrees and certificates that can help you land one of them.

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  Summary List Placement According to the Bureau of Labor, some of the fastest-growing — and best-paying — jobs from 2019-2029 are in the medical and technological fields, ranging from nurse practitioners to data scientists.  Some of these careers require master’s degrees, while others usually only require a bachelor’s degree or relevant experience. Thanks to […]

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Biden wants to go after the wealthy on taxes with a $1.2 billion increase in IRS funding

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Summary List Placement President Joe Biden’s $1.5 trillion budget proposal on Friday proposes a ramp-up in spending for education, health, climate initiatives, and more. It also included over $1 billion in increased funding for the Internal Revenue Service to hold the wealthy accountable. According to a White House fact sheet on Biden’s budget proposal, Biden […]

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Nonbank lenders profited $4,200 per loan in 2020

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Across the mortgage industry, revenues swelled to record highs in 2020. Nonbank lenders and mortgage subsidiaries of chartered banks reaped the rewards – they nearly tripled their profit per loan last year. According to recent data from the Mortgage Bankers Association, IMBs and mortgage subsidiaries averaged around $4,202 profit on each loan in 2020, compared […]

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Elizabeth Warren is holding her first hearing on student debt cancelation. Here’s what to expect.

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Summary List Placement In her first hearing as Chair of the Senate Banking Committee’s Subcommittee on Economic Policy, Sen. Elizabeth Warren of Massachusetts will address the impact of student debt on racial justice, borrowers, and the economy. On Tuesday, 11 witnesses, including Rep. Ayanna Pressley of Massachusetts and the CEO of student-loan servicer Navient, John […]

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Here are the top 15 mortgage lenders of 2020

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A perfect storm of record low interest rates and shifting consumer behavior spurred by the COVID-19 pandemic resulted in an absolutely incredible year for mortgage lenders in 2020, especially the independent mortgage banks. Virtually every IMB saw origination volumes soar in 2020, with many eclipsing $40 billion in originations, according to the Consumer Financial Protection […]

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A Computerized Map Can Predict the Next COVID-19 Outbreak

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Predicting whether an outbreak is likely to happen is now possible with the COVID-19 Outbreak Detection Tool, a map that shows the coming hotspots for the disease, if accurate data is available.  VOA’s Elizabeth Lee has the details. Producer: Elizabeth Lee details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com

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Top GOP senator says it’s ‘an impossible sell’ for Republicans to strike a deal on an infrastructure package that rolls back Trump tax cuts

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Summary List Placement Sen. Roger Wicker of Kansas, the ranking Republican on the Senate Commerce Committee, downplayed the prospect of a bipartisan deal on President Joe Biden’s infrastructure plan that included rolling back the 2017 Trump tax cuts. “It would be an almost impossible sell from the president to come to a bipartisan agreement that […]

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Fannie Mae exec Andrew Peters leaves for Lenderworks

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National mortgage services provider Lenderworks has brought on Fannie Mae‘s head of single-family strategy Andrew Peters as president, the company said Monday. Peters served as a strategy consultant for the government sponsored enterprise before rising to the position of vice president, head of single family strategy for nearly two years. The bulk of Peters’ 25 […]

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Ginnie Mae loans lead drop in forbearance to 4.66%

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Servicers’ total number of loans in forbearance fell a whopping 24 basis points to 4.66% of portfolio volume during the first full week of April, according to a survey from the Mortgage Bankers Association – one of the biggest drops in the history of the series. Ginnie Mae loans in particular dipped a massive 45 […]

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Gen Z is going to have a hard time getting rich

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Summary List Placement Gen Z is walking a rocky road to getting rich. They’re set to earn less than previous generations on stocks and bonds, reported The Economist, citing Credit Suisse’s global investment returns yearbook. In fact, the generation can expect average annual real returns of just 2% on their investment portfolios — a third […]

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A top Biden advisor says the White House doesn’t need GOP support in Congress for infrastructure package to be bipartisan

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Summary List Placement A top White House advisor said that President Joe Biden’s multitrillion-dollar infrastructure plan doesn’t need Congressional Republican support to be considered bipartisan. “If you looked up ‘bipartisan’ in the dictionary, I think it would say support from Republicans and Democrats,” Anita Dunn told the Washington Post. “It doesn’t say the Republicans have […]

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Britons Switch Off Coverage of Royal Death

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Britons switched off their televisions Friday in record numbers, apparently frustrated with the blanket coverage of the death of Prince Philip, husband of Queen Elizabeth and the longest serving royal consort in British history.  The BBC, the country’s taxpayer-funded public broadcaster, was flooded with so many complaints that it set up a dedicated complaints form […]

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The growing support for female mortgage executives

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After speaking with several other female mortgage executives in celebration of International Women’s Day, I wanted to take the opportunity to highlight a few women leaders who are making waves. I asked them their thoughts on “the growing surge of support for women in the industry,” and am honored to share their voices. Susan Stewart, […]

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Fed Chair Jerome Powell says the greatest risk to the US economic rebound is another wave of the coronavirus

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Summary List Placement Federal Reserve Chairman Jerome Powell says the US economy is about to start growing “much more quickly,” but a resurgence in COVID-19 cases could derail that progress. Powell discussed the US economic recovery from the coronavirus pandemic with CBS’ Scott Pelley, in an interview set to be aired on 60 Minutes Sunday […]

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Maersk, the world’s largest shipping company, says the Suez Canal blockage’s economic fallout will continue into second half of May

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Summary List Placement Fallout from the Ever Given’s time lodged in the Suez Canal will “ripple” through the economy for the next few weeks or months, according to Maersk, the world’s biggest shipping company.  “We will see ripple effects continuing into the second half of May,” Lars Mikael Jensen, head of Maersk’s Global Ocean Network, […]

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Blackmore 1st Woman to Win Grand National Horse Race

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A Hollywood fantasy turned into reality Saturday when Rachael Blackmore became the first female jockey to win Britain’s grueling Grand National horse race, breaking one of the biggest gender barriers in sports.  Blackmore, a 31-year-old Irishwoman, rode Minella Times to victory at odds of 11-1 in the 173rd edition of the famous steeplechase at Aintree […]

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The service industry is clawing for a comeback, and large chains like Taco Bell and IHOP are rolling out the perks as they scramble to hire

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Summary List Placement Restaurant chains are trying to lure back employees as COVID-19 restrictions lift across the US. As business picks up and more people become vaccinated, some companies are having trouble finding employees and they’re rolling out perks to draw in workers to deal with the job boom. Read more: These 13 grocery-delivery companies […]

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GSEs won’t buy QM loans under GSE Patch after July 1

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In Lender Letters issued on Thursday, Fannie Mae and Freddie Mac confirmed that loans purchased by the GSEs with application dates on and after July 1, 2021, must meet the standards of the Consumer Financial Protection Bureau’s Revised Qualified Mortgage Rule. In the letters, the two government sponsored enterprises state that they will follow the […]