St Louis Finance: New Federal Health Care Went Into Effect

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-financ... St Louis Mortgage and Real Estate News – St Louis Finance News: Health Care Tidal Wave Starts | Home Mortgage and Commercial Loans | 314-334-0210 | Floyd Tapia The first big wave of new rules under the federal health care law has gone into effect leaving many insurers scrambling to get ahead of the changes. Insurers are cutting jobs to lower overhead costs, investing in big technology upgrades and training employees to...

St Louis Home Loan: Home Sales Were Up In August

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-home-l... St Louis Mortgage and Real Estate News – St Louis Loan Audit and Finance News: Home Sales Rose In August | Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia The housing market received some good news when existing home sales rose in August following a big correction in July, according to the National Association of Realtors (NAR). Existing home sales, which are completed transactions that include single-family, town-homes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted...

St Louis Mortgage: No Loan Modifications For Unemployed

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Mortgage and Real Estate News – St Louis Loan Audit and Finance News: No Loan Modification Programs For The Jobless | Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia On November 1, 2010, new guidelines released by Fannie Mae will mean that unemployed homeowners cannot count jobless benefits as income when applying for mortgage loan modification programs on loans backed by Fannie Mae. “We don’t want to set up borrowers to fail,” said Amy Bonitatibus, Fannie Mae spokeswoman. Fannie Mae’s announcement broadens a ban already put in place from...

St Louis Commercial Lending: Small Business Bill Passes

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-commer... St Louis Mortgage and Real Estate News – St Louis Commercial Financing News: Small Business Bill Passes | Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia One week after the Senate passed a $42 billion bill aimed at helping small businesses, the House quickly voted to send the bill to President Obama’s desk, where he signed it. The Small Business Jobs Act authorizes the creation of a $30 billion fund run by the Treasury Department that would...

St Louis Home Mortgage: Surge In Home Sales Short-Lived

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-home-m... St Louis Mortgage and Real Estate News – St Louis Finance News: Will The Home Surge Peter Out? | Home Mortgage and Commercial Loans | 314-334-0210 | Floyd Tapia Housing statistics report that for the month of August, home sales increased by 7.6 percent after plummeting in July. But activity is still low across the nation and could fall even further obviously taking prices with it. Most blame the expiration of the home buyer tax credit for pulling sales that otherwise would have...

St Louis Loan: Rise and Fall of Durable Goods

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-loan-r... St Louis Mortgage and Real Estate News – St Louis Finance News: Durable Good Orders On The Rise | Home Mortgage and Commercial Loans | 314-334-0210 | Floyd Tapia The overall demand for durable goods fell 1.3 percent in August, the Commerce Department posted in their monthly report. But that was pulled down by a significant drop in orders for aircraft. But when you exclude the volatile transportation sector, orders actually rose 2 percent which was...

St Louis Finance: Gold Hitting New Highs

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-financ... St Louis Finance News: Gold Hits New Record High | Home Mortgage and Commercial Loans | 314-334-0210 | Floyd Tapia Gold soared to a record high breaching the key $1,300-an-ounce level and going higher, amid persistent worries about the recovery. After reaching a peak of $1,301.30 an ounce, Gold for December delivered the most active contract which eased to $1,299.80 an ounce. Gold’s last intraday record high was...

St Louis Mortgage: FHA Mutual Mortgage Insurance Fund Low

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: FHA Falls Way Below Statutory Minimums | Home Mortgage and Commercial Loans | 314-334-0210 Floyd Tapia The Government Accountability Office said economic and market conditions led to declines in the Federal Housing Administration’s mutual mortgage insurance fund “to a level below the statutory minimum” of 2 percent. Testifying before the Senate Committee on Banking, Housing, and Urban Affairs, Mathew Scire, director of the GAO financial markets and community investment division said...

St Louis Finance: Economy Growth Is Slow

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-financ... St Louis Finance News: Recovery and Growth Are Slowing | Home and Commercial Loans | 314-334-0210 | Floyd Tapia | Principal Reduction According to the Federal Reserve, the U.S. economic recovery continues to lose steam, and the pace of economic recovery is likely to be modest in the near-term. The Federal Reserve left its funds rate at close to zero percent. That overnight lending rate, which is used as a benchmark to set the rates paid on a wide variety of...

St Louis Home Loans: Unemployment Up

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-home-l... St Louis Finance News: Unemployment Is Rising | Home Mortgage and Commercial Loans | 314-334-0210 | Floyd Tapia | Principal Reduction The numbers are speaking loud and clear about this stagnant, slow growing economy. According to the United States Labor Department, twenty-seven states reported unemployment rate increases in August. On the other hand, 13 states registered decreases while ten states and the District of Columbia showed...