Reuters - Weak demand for new civilian aircraft and defense equipment pulled U.S. orders for costly durable goods down in June but the underlying trend toward an improved pace of manufacturing activity continued.
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AP - A senior House Democrat threatened banks Wednesday that if they don’t volunteer to save more homeowners from foreclosure, Congress will make them.
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U.S. News & World Report - This sounds like a cycle of pure misery: First, you get laid off. Then, you’re one of the 4.4 million Americans who in June saw their job searches stretch out six months or more. The bills keep rolling in–car payment, house payment, medical bills–and your credit card balance is ballooning. You interview for a job and you’re one of the top candidates, but a late-stage credit check has the employer going with another hire. The bottom line: You need a job to improve your financial situation, but your finances are now hurting your ability to get a job.
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Developers battling banks to keep funding spigots open on construction projects are taking heart from Citgroup’s defeat in its court battle with a mall.
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Vornado plans to raise up to $600 million, in a key test of TALF’s ability to revive the market for commercial mortgage-backed securities.
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The SEC sued four individuals for alleged fraud in connection with raising over $197 million from at least 900 investors nationwide in connection with a Phoenix-based commercial real-estate venture.
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Some banks are starting to bypass foreclosure on large, troubled real-estate developments and instead are throwing the properties into receivership.
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A management company has sued a tenant for libel over a Twitter post complaining about a moldy apartment, according to court records and online reports.
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Obama administration officials met with mortgage executives and pressed them to pick up the pace of loan modifications for troubled borrowers.
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AP - Loans backed by the Federal Housing Administration will be eligible for payment reductions similar to the Obama administration’s loan modification program, the government will announce Thursday.
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