Federal Reserve Chairman Ben Bernanke sketched a more optimistic outlook for the economy, but said a $600 billion bond-buying program is needed because it will take up to five more years to bring unemployment back to healthy levels. Get the full story »
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Fed official: Mortgage system may need revamping
The mortgage servicing industry will need to make “substantial” investments to improve the foreclosures process, Federal Reserve Governor Daniel Tarullo said Wednesday. “Fixing the problems in the mortgage servicing industry may also require thinking about some fundamental structural changes to the current mortgage system,” Tarullo said in prepared remarks to Congress. Get the full story »
