WASHINGTON – The U.S. Department of Housing and Urban Development today awarded $ 600,000 to increase hiring of low-income individuals and public housing residents. HUD is awarding twelve housing authorities, cities, and states $ 50,000 each to hire full-time Section 3 Program Coordinators for one year. These grants will maximize a HUD program that ensures HUD dollars are used to hire low-income individuals and to contract with businesses that hire them.

Occupy Wall Street ignores benefits of financial services --

The Occupy Wall Street protestors finally released a manifesto this week.
According to their own mission statement, the Occupy Wall Street crowd blames the financial services Wall Street represents for everything plaguing the universe: from foreclosures to job losses. Not to mention, unspecified abuses against "non-human animals."
Essentially, their manifesto is short on specifics and fails to […]

Fannie Mae mortgage portfolio declines 4% in August --

Fannie Mae's gross mortgage portfolio fell at a compound annualized rate of 4% in August, according to the government sponsored enterprise's monthly summary report.
During August, the conventional single-family delinquency rate fell 5 basis points to 4.03%, while the multifamily seriously delinquency rate dropped 2 bps to 0.43%.
Fannie completed 23,779 loan modifications in August, bringing its […]

UBS eyes former JPMorgan exec as CEO: Report --

UBS has begun the search for a new CEO after Oswald Gruebel resigned last week and may be looking to tap former JPMorgan Chase investment banking co-chief Bill Winters, the Wall Street Journal reported.

The investmentĀ bank has appointed international head hunting firm Egon Zehnder International to help it find a candidate, the newspaper reported […]

Forced foreclosure mediation more successful than voluntary: Boston Fed --

The few state foreclosure mediation programs in the U.S. that force the lender or homeowner to participate showed a far greater success rate than voluntary ones, according to a research note from the Federal Reserve Bank of Boston.
Connecticut launched an aggressive number of programs in 2008 including mediation and provides the most regularly updated data. […]


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