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Bureau Proposes Borrower Protection Rules

WASHINGTON (UPI) — Rules that would set standards to prevent mortgage servicer errors and surprises were proposed Friday by the U.S. Consumer Financial Protection Bureau. “Millions of homeowners are struggling to pay their mortgages, often through no fault of their own,” Bureau Director Richard Cordray said in a release. “These proposed rules would offer consumers […]

Drought Tamps Corn Production Forecast

WASHINGTON (UPI) — Corn production is forecast to drop 13 percent for 2012, the lowest production since 2006, the U.S. Agriculture Department said Friday. Corn production is forecast at 10.8 billion bushels, down 13 percent from 2011, the department said in in a release. Based on conditions as of Aug. 1, yields are expected to […]

July U.S. Import Price Index Falls

WASHINGTON (UPI) — U.S. import prices dropped 0.6 percent in July, the third month in which fuel and non-fuel imports contributed to the decline, the Labor Department said Friday. Import prices fell 2.4 percent in June and 1.5 percent in May. In contrast, U.S. export prices rose 0.5 percent in July, following a 1.7 percent […]

Will Improved Economy Affect Elections?

WASHINGTON (UPI) — New economic data suggest key sectors of the U.S. economy may be improving as the 2012 presidential election campaign heats up, analysts said. The moribund housing market has picked up, the government reported a downward trend in the number of first-time unemployment claims and U.S. imports and exports have improved. Taken together, […]

Google To Pay $22 Million In Browser Fine

WASHINGTON (UPI) — Google will pay $22.5 million to settle charges it misrepresented privacy assurances to users of Apple’s Safari Internet browser, U.S. officials said. Google violated an earlier agreement with the Federal Trade Commission in which it said it would not place tracking “cookies” or serve targeted ads to those users, an FTC release […]

Airlines Set Records For Performance

WASHINGTON (UPI) — U.S. airlines set records for the first half of 2012 in on-time performance, fewest cancellations and other customer-centric yardsticks, federal officials said. The Air Travel Consumer Report issued Thursday indicated the 15 largest U.S. airlines posted an 83.7 percent on-time arrival rate during the first six months of 2012, the highest mark […]

U.S. Drought Sparks Global Food Price Hike

UNITED NATIONS (UPI) — The drought afflicting the U.S. midsection is causing food prices to rise globally, the United Nations said Thursday. The United Nations’ monthly Food Price Index indicated food prices rose 6 percent in July after three months of decline, CNNMoney reported. Record-high grain prices, specifically corn prices, were blamed for the increase. […]

Fixed Mortgage Rates Inch Up

MCLEAN, Va. (UPI) — Fixed rates for U.S. home loans rose higher because of the recent stronger-than-expected employment report, Freddie Mac reported Thursday. The 30-year fixed averaged 3.59 percent and the 15-year fixed averaged, 2.84 percent, still near the historic low, the Federal Home Loan Mortgage Corp., based in McClain, Va., said in a release. […]

Banks Profiting From Low Home Loan Rates

NEW YORK (UPI) — Low interest rates are increasing mortgage profits for U.S. banks, analysts say. Mortgage bankers know they’re making big gains from home loans but say they can’t afford to cut, blaming tougher regulations for higher expenses, The New York Times reported Thursday. “There is a much higher cost to originating mortgages relative […]

American Airlines Pilots Reject Contract

FORT WORTH, Texas, (UPI) — The American Pilots Association, representing Texas-based American Airlines, voted down a tentative contract offer. The vote was 2,935 pilots approving the agreement and 4,500 pilots rejecting it, APA said on its Web site. Before the vote, APA officials told members that Chapter 11 bankruptcy restructuring of American Airlines “was a […]


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