Author: Mary Waters | Lending Agent
A trove of emails and internal communications filed as exhibits in an ongoing federal case surrounding the mass layoffs of nearly 90% of Consumer Financial Protection Bureau (CFPB) employees reveal a government agency beset by chaos at it scrambled to figure out how many people it could afford to fire and still function. The communications also display the profound influence exerted on the reduction in force (RIF) initiative by Gavin Kliger, a staffer with the Elon Musk-led Department of Government Efficiency (DOGE), who was given access to CFPB systems and provided guidance to top CFPB officials. The federal lawsuit was…
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Photography by Getty Images; Illustration by Bankrate Key takeaways When you make biweekly mortgage payments, you pay your loan every two weeks rather than once a month. This translates to 26 half-payments, or the equivalent of 13 full monthly payments over 12 months. Making biweekly mortgage payments can save you money by helping you pay off your mortgage sooner. Before committing to biweekly payments, confirm with your mortgage lender or servicer that it is applying the extra payments to the principal. What are biweekly mortgage payments? Biweekly mortgage payments involve making half of your monthly payment every two weeks rather…
In a weaker tape, it is important to identify stocks with technical set-ups that differ from that of the major indices. While the S & P 500 Index and Nasdaq-100 Index have seen a significant loss of long-term momentum, a stock like Charter Communications, Inc. (CHTR) has gained long-term momentum. The stock has a relatively low beta of 0.77 versus the S & P 500, and it has a low correlation, with an r-squared of approximately 0.11. CHTR has been building a base for over two years following a bear market cycle in 2022, with the monthly chart taking the…
MoMo Productions/Getty Images; Illustration by Austin Courrege/Bankrate Key takeaways Mortgage lenders typically evaluate a borrower’s creditworthiness using FICO Scores 2, 4, and 5. These scores are the ones used by Experian, Equifax and TransUnion — the three major credit bureaus. While newer versions of the FICO score have been introduced, the mortgage industry largely relies on these older versions due to regulation. Which credit score do mortgage lenders use? Fannie Mae and Freddie Mac use FICO scores to determine borrower eligibility for conforming loans, which make up most mortgages. Mortgage lenders have traditionally used three different FICO scores to determine…
UBS is getting more bullish on Berkshire Hathaway stock heading into the company’s first-quarter earnings report. In fact, analyst Brian Meredith said the so-called Baby Berkshire Class B shares of Warren Buffett’s conglomerate are a “safe haven in a turbulent environment.” The analyst reiterated a previous buy rating on Berkshire’s Class B stock, raising his 12-month price target to $606 per share from $557. That implies roughly 14% upside from Friday’s $530.96 close. The analyst also lifted his first-quarter earnings estimate to $4.89 per share from $4.81, citing improved underlying loss ratios for Geico, Buffett’s premier holding. BRK.B YTD mountain…
This website uses cookies to enhance user experience and to analyze performance and traffic on our website. We may also share information about your use of our site with our social media, advertising and analytics partners. Not consenting or withdrawing consent, may adversely affect certain features and functions. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. The technical storage or access is necessary…
Although the S & P 500 is coming off strong gains in the previous week, several technical analysts are warning that the market isn’t yet in the clear. As of midday Monday, the S & P 500 was down about 0.7%, trading above the 5,480 level. The broad market index advanced 4.6% last week on hopes for progress on tariff talks. According to Ari Wald, technical analyst at Oppenheimer, the risk-reward outlook for the broad market index is becoming “less favorable” as it nears its 200-day average near the 5,745 level. “We believe risk-taking is establishing a floor and likely…
Key takeaways As an heir, you have several options, such as moving into the home and assuming the mortgage, buying out other heirs if they also inherited a portion of the property or selling the house and using the proceeds to pay off the mortgage. Even if you plan to sell the home, you must usually continue making mortgage payments, as well as paying property taxes and insurance premiums. Your decision about what to do with the home will be affected by whether the house has a reverse mortgage or whether the mortgage is larger than the home value. If…
Key takeaways To qualify for a home equity loan or line of credit, you’ll typically need at least 20 percent equity in your home. Some lenders allow 15 percent. You’ll also need a solid credit score and acceptable debt-to-income (DTI) ratio. Lastly, lenders will want to see steady and adequate income, and for you to be in good standing on your mortgage payments. One of the biggest benefits of homeownership is the ability to build equity. When you accumulate enough, typically over time by paying down your mortgage, you can borrow against it through a home equity loan or home…