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Economy

Mortgage aid sees dropouts

WASHINGTON, D.C. — More than 40 percent of homeowners seeking help from the Obama administration’s flagship effort to rescue those at risk of foreclosure have dropped out of the program.

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LLC filings rise

The New York State Division of Licensing Services on Friday announced that nearly 5,000 more New Yorkers — about 24 percent — were licensed in the second quarter of 2010 than in the second quarter of 2009.

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Homes lost to foreclosure on track for 1M

LOS ANGELES — More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans. Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service.

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Americans’ credit scores sink to new lows

WASHINGTON, D.C. — The credit scores of millions more Americans are sinking to new lows. Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 ...

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HIRE nets 4.5M hires

WASHINGTON, D.C. — Businesses have hired 4.5 million workers under a new program that provides tax breaks for hiring unemployed workers, the Treasury Department said Monday.

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Reform bill includes attorney exclusion

The House-passed financial reform bill contains key language stating that practicing lawyers and those acting under their direction are not subject to its regulations.

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Complete study, then crack down

WASHINGTON, D.C. — What to do about the size of too-big-to-fail banks? Order a study. How to hold stockbrokers accountable for their dealings with clients? Another study. How to ensure the reliability of credit rating agencies? Study that, too.

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