A trend of fewer homeowners refinancing their mortgages as interest rates climb is helping to curb sales of home-loan bonds without government backing. It’s also making new notes being issued safer, according to Moody’s Investors Service.
Thomas Borgen, chief executive officer of Danske Bank A/S, says Denmark’s largest lender doesn’t need legislation to drive a reduction in mortgage bond issuance identified by the financial regulator as risky.
Yale University, the University of Pennsylvania and Sacred Heart University are among colleges clarifying the application process for federal financial aid after a congressman said some students are being misled into paying unnecessary fees.
A year ago, New Jersey contractor Michael Mroz’s customers were focused on saving money when renovating kitchens and baths, he said. Now, with a resurgence of home equity lending, they’re ready to pay for the best.