Posted To: Pipeline Press
Fed Chair Janet Yellen appears to be doing her part to warn the markets that the odds of a short-term rate hike in the next few months are pretty good . Wild cards, of course, linger, but last Friday she signaled the central bank will likely raise interest rates within months if the U.S. economy keeps gaining strength. Of course the Fed doesn't set long-term rates, or mortgage rates, but its thoughts on the economy do tend to influence the long end. Residential lending is never too far from the courtroom, or the regulator's desk. The U.S. Securities and Exchange Commission reported that California-based First Mortgage Corporation and six of its executives agreed to pay $12.7 million to settle charges of defrauding investors . According to the SEC, the executives said current, performing loans...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1RMP7Zy
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