As widely anticipated, the Fed said it would reduce its monthly purchases of Treasury bonds and mortgage-backed securities from $15 billion to zero, ending its third round of bond buying since the crisis after less than two years. It began tapering those purchases from $85 billion a month in December as the economy and job growth strengthened.

Stocks initially fell after the Feds announcement at 2 pm ET.

Rancho Santa Fe mortgage broker gets 30-month sentence for fraud schemes

Defendant masterminded a multimillion-dollar loan-fraud and kickback scheme, cheated the IRS, and defrauded Hawaii Bankruptcy Court

– FBI press release:

Donald V. Totten — who had previously operated a lucrative mortgage business from his Rancho Santa Fe home — was sentenced today to 30 months in prison by US District Judge Michael M. Anello for orchestrating a host of fraud schemes.

Totten, who has been in custody since his arrest on July 24, 2013, pleaded guilty in February 2014 to four felony counts relating to his mortgage, tax, and bankruptcy frauds.

According...

Twenty tables within the gymnasium were each labeled with a different focus area: technology, planning for growth, effective transportation, maximizing financial resources, focus on mathematics, and others. 

Visitors could sit at a table of most concern to them and talk with facilitators and those knowledgeable in the area.

Each table’s participants were asked to create two goals the district could attain in the next five years, the superintendent said.

When Thomas was hired a year ago, he said, he was presented a list of goals, including reaching the top 20 percent of schools in the nation, raising ACT mathematics scores and unifying the district. Now that the district...

In a
divorce, its bad enough that youre losing someone you once loved or may still
love. It’s even worse when you find out you may lose your house, too.

And
finding a replacement, much like starting a love life all over, wont be easy.
After all, lenders tend to give mortgage loans to people with good credit and a
solid stream of income. If you were previously a two-income household, you
arent now, and if youre paying alimony, you have less money than you did.

Whether
youre in the midst of a divorce or its aftermath, here are some things you can
do to land a mortgage and what you can reasonably expect.

You may want to get your name...

Did President Barack Obamas credit card get hacked?

JP Morgan and the White House arent saying, but the question of whether Obamas card was one of the 76 million cards compromised in a massive hack attack on JP Morgan received fresh impetus when Obama revealed that his own personal credit card was declined last month at a New York restaurant.

Obama, Yahoo Finance noted, does have a JP Morgan card.

The president revealed his embarrassing experience while signing a new order mandating that federal agencies handing out benefits in pre-paid credit cards switch to chip-embedded cards instead of easily counterfeited magnetic strip cards as a measure to combat credit card fraud,...

WASHINGTON–(BUSINESS WIRE)–SubscriberWise┬«, a leading provider of analytics-driven subscriber
decision management technology and the nations largest issuing consumer
reporting agency for the communications industry, announced today that a
young adult from northeast Ohio is the latest victim of a fraud
perpetrated against him when he was a 12-year-old boy.

The individual learned of his victimization while applying for an
internet account. After providing his identifying information, a call
center representative discovered a delinquent account with several
hundred...

WASHINGTON (NNPA) After an arduous debate that stretched over three years, higher education advocates overwhelmingly supported the updated guidelines for the Federal Direct PLUS Loan Program recently issued by the Department of Education (DOE). The changes will impact nearly 400,000 students nationwide and provide much needed relief for Black students who disproportionately depend on the PLUS loan program to make it through college.

In a press release on the final rule change, United States Secretary of Education Arne Duncan said that the updated borrowing standards for the PLUS loan program demonstrated the department’s “commitment to ensuring families have access to the financing...

Patterson-UTI Energy Announces Completion of Previously Announced Pressure Pumping Acquisition

October 20, 2014: 04:10 PM ET

HOUSTON, Oct. 20, 2014 /PRNewswire/ — PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today announced that one of its subsidiaries has completed the previously announced acquisition of the Texas-based pressure pumping assets of a privately held company.  The acquisition included 148,250 horsepower of hydraulic fracturing equipment and provides Patterson-UTI with two additional bases of operations and employees to support customer activity in

INDIANAPOLIS – On Sunday, October 19, the Colts teamed up with HopeLine from Verizon Wireless to host a cell phone collection prior to the Colts vs. Bengals game. Volunteers from Verizon Wireless and Coburn Place collected cash as well as used cell phones and accessories in any condition to benefit Coburn Place Safe Haven. Donations were collected at the Colts Community Collection Stations located outside each Lucas Oil Stadium Gate.

The drive, taking place during Domestic Violence Awareness Month this October, will benefit Coburn Place Safe Haven, an Indianapolis organization that has growing waiting lists for families in need of transitional housing. The Colts and HopeLine...

PATASKALA – A local utility provider does not intend to raise its water and sewer rates in 2015.

Southwest Licking Community Water and Sewer District’s three-person Board of Trustees recently agreed to maintain the district’s same customer rate structure in the coming year, said Pataskala’s appointee to the board, Larry Meade.

“It will be the third year in a row the rates haven’t gone up,” Meade said. “That’s a good thing for us.”

SWLCWSD’S water rates start at a minimum of $18.08 a month, while its metered sanitary sewer rates start at a minimum of $30.53 a month. The utility provider also charges a debt...