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Summary List Placement The pandemic has done a lot of strange things to the global economy over the last 14 months, from creating a massive shortage of semiconductor chips to a ballooning supply of hand sanitizer.  The US housing market has gone haywire too, as urbanites took advantage of remote work to leave expensive cities […]

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. U.S. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.), John Katko (R-N.Y.), and Bonnie Watson Coleman (D-N.J.) introduced the bill, dubbed the Homes for Every Local Protector Educator and Responder Act, on May 13. The bill would […]

Summary List Placement Stimulus checks have been a cornerstone of pandemic relief, helping offset financial strains brought on by COVID-19. But studies have shown that those checks only last Americans a few months, and many Democratic lawmakers want to implement recurring direct payments for a sustainable economic recovery. Under the CARES Act signed into law […]

Summary List Placement After surging through the pandemic on a wave of historic demand, sales of new single-family homes are giving way before a nationwide supply shortfall. New home sales in the US slid 5.9% in April to an annual rate of 863,000 units, the Census Bureau said. Economists surveyed by Bloomberg expected sales to […]

Summary List Placement While graduating from college is a significant achievement, many people — 45 million people, that is — are held back by student debt — except for this spring’s Contra Costa Community College graduates. The Contra Costa College Foundation announced on Monday that as a surprise graduation gift for May graduates, it had […]

Summary List Placement About 900 people a day are moving to Florida, the state’s CFO, Jimmy Patronis, told Fox Business on Monday, attributing it mainly to higher taxes in states such as New York and New Jersey. Migration to Florida had steadily risen over the past decade before booming during the coronavirus pandemic as remote […]

The ability to look past the now and develop strategies that poise an organization for future success is key to any leadership position in almost any business. It’s true for the mortgage industry and especially the long-term strategies we’ve developed to react to the current low-rate environment brought on by a global pandemic. One of […]

Summary List Placement Audit rates for the wealthiest Americans are nearly 80% lower than they were a decade ago, driving the tax gap to an estimated $1 trillion annually. Sen. Elizabeth Warren of Massachusetts wants to close that gap and hold the wealthy accountable by strengthening the budget of the Internal Revenue Service (IRS). On […]

The total number of loans in forbearance managed to fall three basis points last week to 4.22% of servicers’ portfolio volume, according to a report from the Mortgage Bankers Association. A drop-off in the number of exits did mark a slower decline than in recent weeks, however, Monday’s data still marks three consecutive months of […]

It’s the moment everyone fears: in the frenzy to close a house sale, commitment to fraud preventions falters. Busy professionals involved in the sale override their own cautions about fending off wire fraud by reverting to tried-and-true email addresses to convey the most sensitive financial information. Trying to keep with the drive to the finish […]

Summary List Placement President Joe Biden’s talks on infrastructure with Republicans are threatening to stall out in their third week, with negotiators sharply disagreeing on the level of spending required and even the basic definition of the term. The Biden administration made another offer on Friday, paring down its original proposal to $1.7 trillion from […]

Summary List Placement Bipartisanship remains the focus of President Joe Biden’s infrastructure discussions, as he dedicates his time and efforts to negotiating the scope and size of his $4 trillion infrastructure proposal with Republicans. But a new poll found that voters don’t really care all that much about getting Republicans on board. A poll released […]

Summary List Placement A uniform corporate tax that spans different countries is coming closer to reality, according to a new report from the Financial Times.  Per the report, the Group of 7 countries could reach their own agreement by as soon as Friday. While the G7 does not have formal power over the final agreement, […]

Stavvy, a Boston-based fintech, announced Monday that it landed a $40 million Series A funding round led by Morningside Technology Ventures. The company says the round is the largest Series A for a New England fintech and it plans to use the capital to double or even triple its staff by the first quarter of […]

Summary List Placement China is cracking down on cryptocurrencies because it’s worried crypto could threaten national security and economic and financial stability, top economist Mohamed El-Erian said in a Sunday Bloomberg op-ed.  Several countries, including China and the UK, are considering issuing central bank digital currencies, showing that they’re leaning towards the adoption of centralized […]

Summary List Placement The pandemic caused a surge in home-improvement projects at the worst possible time and many companies are still struggling to keep up with backlogs of projects. Over 44% of home improvement plans in the US have been delayed due to supply shortages and skyrocketing material costs, according to data from market research […]

Summary List Placement On April 29, new data showed that a key measure of inflation monitored by the Fed — core PCE (personal consumption expenditures) — rose to 3.5% from 1.7% in the first quarter, marking its second-fastest pace of growth since 2011. Then, on May 12, the Bureau of Labor Statistics released new Consumer […]

Summary List Placement If I asked you to name the job title of a worker who would be required to sign a noncompete agreement, you’d probably think of high-paying jobs — designers of new Apple products, for instance, or CEOs with access to corporate secrets. Noncompetes were designed for just that purpose: to protect a […]

Summary List Placement For almost a year, Democratic and Republican lawmakers have been calling on the IRS to make it easier for domestic violence survivors to collect stimulus checks and tax returns.  Experts say almost all domestic violence survivors experience some form of financial or economic abuse, and lawmakers and IRS representatives continue to hold […]

Summary List Placement COVID-19 and a year of staying at home may have saved some brick-and-mortar stores from the retail apocalypse, or at least slowed its advances. Some of the country’s biggest retailers, including Walmart, Macy’s, Target, and Home Depot, said sales are strong and shoppers are returning to stores as pandemic restrictions ease and […]

As the mortgage market swings back to purchase, lenders are looking at ways to welcome new customers, clients and colleagues as they expand their reach. That’s why we’ve invited Movement Mortgage‘s vice president of marketing Jake Fehling to speak about marketing to reach a diverse audience at engage.marketing on June 17. Prior to his career in the financial services […]

Summary List Placement President Joe Biden has offered to cut down the cost of his infrastructure plan — the so-called American Jobs Plan. — from $2.25 trillion to $1.7 trillion, presenting a counteroffer to Republicans on Friday. The offer did not address the $1.7 trillion American Families Plan, which is largely focused on care-economy measures, […]

Summary List Placement When he was campaigning for president, President Joe Biden said he would support $10,000 in student debt cancelation per person. It looks like he’s not planning on following through on that promise anytime soon. The Washington Post reported on Friday that in Biden’s upcoming budget proposal, many of the health care promises […]

Summary List Placement There’s a major housing shortage in the US, with housing starts falling 9.5% in April as demand for new homes continue to surge. It’s so bad that nearly half the houses on the market are being snatched up in less than a week. Treh Manhertz of Zillow’s research team reported on Friday that […]

Summary List Placement Staffers who work for members of the House of Representatives are known for having low pay and high turnover rates, given that their jobs are reliant on their bosses being reelected. Three Democrats want to give those staffers more financial security, including through access to full student-loan forgiveness.  On Thursday, House Majority […]

Summary List Placement The housing market unexpectedly slowed — again — in April as a lack of adequate inventory and soaring prices hindered buying activity. Sales of existing homes in the US dropped 2.7% last month to an annualized pace of 5.85 million units, the National Association of Realtors said Friday. The median estimate from […]

Summary List Placement A primary focus of President Joe Biden’s agenda is addressing the climate crisis, and on Thursday, he signed an executive order aimed at mitigating the financial risks the crisis brings onto American families and businesses. The White House released Biden’s executive order on climate-related financial risk, dedicated to analyzing and mitigating the […]

Summary List Placement The Department of Labor likely won’t be able to step in and pay out unemployment benefits to the millions who will get cut off early.  An administration official told Insider on Thursday that the department has been trying to figure out any possibility for what they can do — if at all […]