The Lede
Top National News
U.S. Will Track Secret Buyers of Luxury Real Estate
New York Times, Jan. 13, 2016--Story, Louise
Concerned about illicit money flowing into luxury real estate, the Treasury Department said Wednesday that it would begin identifying and tracking secret buyers of high-end properties.
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Mortgage Applications Rebound 21%: Here’s Why
CNBC, Jan. 13, 2016--Olick, Diana
A sharp drop in mortgage activity over the holidays was clearly temporary. Mortgage application volume increased 21.3 percent last week versus the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association.
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U.S. Economy Expands Even as Wages Stay Flat, Beige Book Says
Bloomberg, Jan. 13, 2016--Smialek, Jeanna
The U.S. economy expanded across most of the country in the past six weeks as the job market showed strength that's failing to stoke broad wage pressures, a Federal Reserve survey showed.
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U.S. Budget Deficit Ends Year at Lowest Level Since 2007
Wall Street Journal, Jan. 13, 2016--Timiraos, Nick
The U.S. budget deficit ended last year at its lowest mark since 2007, the sixth straight annual decline, the Treasury Department said Wednesday.
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Why Social Media Is Not the Best Place to Pick Up New Borrowers
National Mortgage News, Jan. 13, 2016--Finkelstein, Brad
Social media offers a unique opportunity to make personal connections online, but mortgage lenders should tread lightly when using this channel as a lead source for new borrower prospects.
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Summers Says Global Economy Can’t Withstand Four 2016 Fed Hikes
Bloomberg, Jan. 13, 2016--Chandra, Sho; Stilwell, Victoria
Policy makers need to heed the message from global commodity and stock markets that "risks are substantially tilted to the downside," former U.S. Treasury Secretary Lawrence Summers said Wednesday.
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Not Too Big to Fail. Too Expensive to Exist
Wall Street Journal, Jan. 13, 2016--Tracy, Ryan; Rexrode, Christina; Glazer, Emily
Forget too-big-to-fail. The operative question for the country's largest financial firms is increasingly whether the government has made it too expensive to be big.
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Cities Rethink Sports-Stadium Deals
Wall Street Journal, Jan. 13, 2016--Brown, Eliot; Carlton, Jim; Futterman, Matthew
A handful of California cities are closing the public checkbook to professional sports teams looking for glitzy new stadiums, in a move that could signal a shift in public attitudes toward such deals.
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JPMorgan’s Earnings Rise
Wall Street Journal, Jan. 14, 2016--Glazer, Emily
JPMorgan Chase & Co. said its fourth-quarter profit beat expectations thanks in part to cost-cutting and higher earnings within its investment banking division.
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