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Michigan voters search for economic savior (AP)

President Barack Obama addresses employees at the Chrysler's Jefferson North Assembly Plant in Detroit, Friday, July 30, 2010. (AP Photo/Carlos Osorio)AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass.


Glimcher offering raises $96M after costs (AP)
AP - Real estate investment trust Glimcher Realty Trust said Friday a recently completed public offering of 16.1 million common shares generated about $96 million, after commissions, discounts and expenses.
Increase in FHA Mortgage Insurance Premiums Passes in House (CQPolitics.com)
CQPolitics.com - The House passed legislation Friday to give the Federal Housing Administration flexibility to raise mortgage insurance premiums on the loans it guarantees.
Reverse Mortgages Aren't Catching On (U.S. News & World Report)
U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
Fannie Mae portfolio grows, delinquencies decline (Reuters)
Reuters - Fannie Mae expanded its mortgage portfolio in June, while the rate of late payments on loans it guarantees fell in May to the lowest level this year, the largest U.S. home loan purchaser said on Friday.
Citigroup to pay $75 million to settle SEC charges (Reuters)

Pedestrians walk past a Citibank branch in Washington in this January 19, 2010 file photo. REUTERS/Jim YoungReuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.


Citigroup paying $75M to settle civil charges (AP)

A man pictured at a branch of Citibank at the US banking giant Citigroup's world headquarters on Park Avenue, New York, in 2008. Citigroup on Friday said it made a 2.7 billion dollar profit in the second quarter of this year, down nearly 40 percent from the same period last year.(AFP/File/Emmanuel Dunand)AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.


Florida mortgage firm settles federal charges (AP)
AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
Congress to try to recoup Fannie, Freddie costs (AP)
AP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Summary Box: Mortgage rates hit low of 4.54 pct. (AP)
AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.
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