A couple of nights ago I had just closed my book, turned off my light, and was drifting off to sleep when my cellphone started to shriek. I shot awake and groped for the phone. My sleep-befuddled brain was greeted with this message: "Boulevard, CA Amber Alert update." Then there was a license plate number, and a make and model of the car.
Groggily, I Google this town — Boulevard, Calif. — and discovered it was 541 miles away from my house. That's more than the distance between Washington, D.C., and Detroit. I was mystified. Why was I getting this?
Beth Glover was a juror on the trial of former Goldman Sachs trader Fabrice Tourre. When the lawyers were discussing the mortgages tied to the securities at the center of the case, Glover realized that, for all intents and purposes, they were talking about her mortgage.
"When they were looking at the subprime mortgage groupings, I think I would have been in one of those," Glover told me. "I didn't have as great as FICO score at that time."
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Today, mortgage giant Fannie Mae announced it made a $10 billion profit this past spring. That's a remarkable turnaround considering the government had to bail out Fannie Mae, along with Freddie Mac, when the housing bubble burst five years ago. It's certainly good news for taxpayers. It's also good news for homebuyers who count on the two companies to back most of the country's home loans.
Originally published on Thu August 8, 2013 6:56 pm
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Since Friday, CBS has been off the air for millions of Time Warner Cable customers. The two sides are fighting over how much Time Warner pays to carry CBS. Then a remarkable thing happened. Time Warner offered to unbundle the TV network, meaning only customers who want it would pay for it. That's close to blasphemy in the cable business and CBS quickly shot down the idea.
Basil is growing thick and leafy in many backyard gardens throughout the U.S. right now, which means many people are thinking about pesto. It's one of the more basic sauces you can make — in addition to basil, all you need is Parmesan or Romano cheese, a little garlic, some extra virgin olive oil and Italian pine nuts.
Driven by a recovery in the U.S. housing market, mortgage finance giant Fannie Mae netted profits of $10.1 billion in the second quarter, its sixth-straight quarter with positive results. The company, which has operated under federal conservatorship since 2008, reported its earnings Thursday.
Fannie Mae cited "a significant increase in home prices in the quarter," which nearly doubled that of last year's second quarter.