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Obama, Congress focus on unemployment benefits
http://www.saukvalley.com/2014/01/07/obama-congress-focus-on-unemployment-benefits/al2ljbm/
Obama, Congress focus on unemployment benefits Katherine Hackett, an unemployed Connecticut woman who introduced Obama, called the benefits “absolutely essential” to covering her necessities, such as her mortgage and health care, as she looked for work. She said she's cut expenses and “is not just 

Mel Watt becomes new chief overseeing Fannie, Freddie
http://www.charlotteobserver.com/2014/01/06/4592079/mel-watt-becomes-new-chief-overseeing.html
Eulada Watt looks on in the Eisenhower Executive Office Building of the White House, January 6, 2014 in Washington, DC. (Olivier Douliery/Abaca Press/MCT) Watt, 68, said in a statement he was “honored” to lead the little known, but very

Mortgage Interest Rates

Understanding how mortgage interest rates are quoted

How lenders who prey on veterans hurt other homebuyers as well

All this may sound horrible, but it gets worse: Abuses in the VA mortgage-lending arena have spilled over onto borrowers in the much larger FHA market, which primarily serves first-time home purchasers and others who lack significant cash for a down payment.

The linkage is via a little-publicized but exceptionally important agency, the Government National Mortgage Association, or Ginnie Mae. Ginnie connects individual homebuyers and refinancers using federal mortgage programs with deep-pocket investors around the world — giant pension funds and banks, among others. Ginnie pools VA, FHA and U.S. Department of Agriculture rural housing loans into mortgage bonds, and provides a federal guarantee of timely payments to investors.

The inevitable result of the VA lenders’ predatory activities is an unusually high number of refinancings within the pools, which disrupts the expected long-term payment flows to investors. That, in turn, prompts investors to lower what they’ll pay for the bonds, and has the side effect of raising lenders’ interest-rate quotes to VA, FHA and rural homebuyers and refinancers.

Trump's tax cut not for everyone: 1 million Californians will owe $12 billion more next year

SACRAMENTO — President Donald Trump’s tax cuts will be anything but for about 1 million California taxpayers who will owe Uncle Sam more money a year from now.

They’re the Californians who will lose a collective $12 billion because the new law caps a deduction they have been able to take for paying their state and local taxes, according to a new analysis by the Franchise Tax Board.

Very wealthy Californians earning more than $1 million a year will pay the lion’s share of that money, with 43,000 of them paying a combined $9 billion.

But some middle-class Californians will pay more, too.

About 751,000 households with incomes under $250,000 probably will owe more tax. All together, they’ll owe an extra $1.1 billion.

The FTB has been releasing reports on the new tax law in waves since December, explaining in detail how it differs from state regulations and analyzing how taxpayers might respond to the changes.

Overall, most Californians should see a tax cut. The new federal law doubles the standard deduction available to all taxpayers, and it increases a child tax credit. It also slashes corporate tax rates.