MORTGAGE

Federal Reserve Chairman Ben Bernanke, speaking via teleconference to a Chicago bankers' conference, took an uncharacteristic swipe at community banks on Thursday, suggesting that those institutions might not be as sure-footed as their balance sheets would have them appear.

U.S. 30-year fixed-rate mortgage rates hit a new record low in the week ending May 10, following lower Treasury bond yields and weaker economic data in April, mortgage financier Freddie Mac said Thursday.

Freddie Mac, the second-largest mortgage guarantor, will announce the appointment of Donald Layton, former head of E*Trade Financial Corp., as a new CEO as early as Thursday, the Wall Street Journal said.

Fannie Mae (OTC: FNMA), the government-controlled mortgage giant that was brought to its knees during the housing crisis, said Wednesday it had net income of $2.7 billion in the first quarter as home prices declined at a slower rate than in the previous quarter, and its book of business improved.

Yolanda Quesada has been fired from her customer service position at Wells Fargo for a shoplifting crime she committed 40 years ago.

In another public effort to pressure Congress to act, President Obama plans to release a five-point list of legislative proposals favored by the White House.

Ally Financial Inc., the auto lender majority-owned by U.S. taxpayers, has received conditional approval from the U.S. Treasury Department on plans to put its struggling mortgage servicing and lending unit into bankruptcy, Bloomberg reported, citing an anonymous Obama administration official.

Vladimir Putin ordered Russia's government to boost investment and shake up state-run industries in a flurry of decrees issued after he returned to the presidency on Monday with a call for a new economy.

The number of blacks and Hispanics registered to vote has dropped precipitously since the 2008 election, diminishing two bastions of Democratic support that could prove crucial in what promises to be a tight presidential race.

In some U.S. presidential election years, one issue dominates, and that's likely to be the case in 2012. The issue: jobs, and so far the Obama administration's policies have not created enough. President Barack Obama needs to find ways to create more jobs, if he hopes to be re-elected.

A girl named Julia has found herself in the middle of so-called War on Women between Democrats in Republicans.

U.S. 30-year fixed-rate mortgages fell to a new record low of 3.84 percent in the week ending May 2, following subdued economic data, mortgage financier Freddie Mac said Thursday.

Asian stocks fell Thursday as weak economic data from the Eurozone and the US raised concerns over the strength of global economic recovery.

Asian stock markets declined on Thursday as weaker-than-expected economic reports from the US and Europe dampened investor sentiment.

Octomom Nadya Suleman was notoriously against doing pornography in the past, but now that her financial situation is dire, the mother of 14 has changed her tune. According to TMZ Suleman will appear in a masturbation video.

Nadya Suleman, the infamous Octomom who made headlines after giving birth to eight children in 2009, filed for bankruptcy protection Monday, stating that the decision was for the best for her children.

fter all the fame and popularity bestowed upon her by the public and media ever since she gave birth to octuplets, Nadya Suleman seems to be regretting everything. Her house was investigated for child neglect following a complaint registered by her hairstylist. The Octomom now says that she has been set up by her hairdresser and that she would reverse it all if she could.

U.S. 30-year fixed-rate mortgage rates dipped to 3.88 percent in the week ending April 26, staying near record lows as the housing market remained mixed, mortgage financier Freddie Mac said Thursday.

The target U.S. interest rate will remain at its current level of 0 to 0.25 percent through late 2014, the Federal Open Market Committee led by Federal Reserve chairman Ben S. Bernanke decided at a meeting Wednesday.

The Federal Reserve on Wednesday repeated its promise to leave interest rates on hold until at least late 2014 but offered few clues into whether it might offer additional stimulus later this year.

Caterpillar Inc. (NYSE: CAT), the largest maker of construction and mining equipment, reported a 29 percent jump in its first-quarter profit that topped analysts' estimates and boosted its full-year outlook, as U.S. builders replaced their aging machinery and demand for mining equipment boomed.