The latest from Bloomberg: President Barack Obama called for limiting the size and trading activities of financial institutions as a way to reduce risk-taking and prevent another financial crisis. The proposals will be part of an overhaul of regulations and … Read More

President Barack Obama today called for a special fee on the 50 biggest financial firms. A bank economist and an independent economist react: Scott Anderson, senior economist, Wells Fargo Anderson said much of the losses Obama mentions actually went to … Read More

President Barack Obama today proposed a special fee on 50 financial firms with assets greater than $50 billion each, saying banks should pay for their own bailout and calling executive bonuses “obscene.” While companies have paid back most of the … Read More

President Obama is likely to propose a fee on financial companies to help close the budget deficit and recoup some taxpayer funds used to bolster the financial system, reports the New York Times ( with a nod to Politico.com). However, … Read More

Bloomberg reports the U.S. House voted to tighten rules for derivatives and create powers to break apart healthy financial firms that threaten the economy. Here’s more: Lawmakers voted 223-202 to set up a Consumer Financial Protection Agency, expand oversight of … Read More

( Update II: Quotes added from defendants attorneys. ) The Securities and Exchange Commission today charged three former executives of failed Irvine-based subprime lender New Century Financial with fraud for allegedly misleading investors as the business was “collapsing” in 2006. … Read More

Comptroller of the Currency John Dugan today called on regulators around the globe to set minimum underwriting standards for all mortgages made in their respective countries. For the U.S., prohibiting most forms of loans where borrowers elect not to provide … Read More

The latest from National Mortgage News ( note: Orange County is a high cost area): House and Senate appropriators have agreed to extend the current loan limits for Fannie Mae, Freddie Mac and Federal Housing Administration loans for another year … Read More

The House Financial Services Committee this week approved an amendment that would sunset a deal on how home appraisers are selected. It remains to be seen if Congress will make it law. A little background: some folks say home appraisers … Read More

A group of real estate appraisers say home buyers and owners will be better served now that Governor Arnold Schwarzenegger has signed SB 237 into law. (Read about other bills he signed last week HERE and HERE. ) The bill … Read More