According to an executive at Wells Fargo, the bank will begin issuing private-label bonds—the first time it's done so since 2008. Backed by non-government guaranteed mortgage loans, these bonds offer lower risk to banks and, therefore, lower interest rates for borrowers. JPMorgan and Redwood Trust have also begun issuing these types of bond as of late.
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GDP and Stocks Raise Recession Concerns
Although it may be hard to picture the U.S. falling into a recession with so many positive reports on the economy, certain data suggests that the time of darkness could be upon us.
Read More »Construction Spending Highest Since Start of Recession
Construction spending in the U.S. rose to the highest level since December 2007 in October 2015, when the recession had just began.
Read More »Homeless Student Numbers Reach a Record 1.36 Million
The number of homeless children in the U.S. public school system has doubled since before the recession, reaching a record total of 1.36 million in the 2013-2014 school year.
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