Orexigen puts obesity drug development on hold
Orexigen Therapeutics Inc. says regulators are making “unprecedented” demands about safety trials for its obesity drug candidate.
Energy prices held back growth in first quarter
Surging gasoline prices and sharp cutbacks in government spending caused the economy to grow only weakly in the first three months of the year. Consumer spending slowed even more than previously estimated.
Barnes & Noble reports $1B bid from Liberty Media
Book seller Barnes & Noble says online retail, media and communications conglomerate Liberty Media has offered to buy the company for $17 per share in cash.
AP-GfK poll: Americans more upbeat about economy
Americans are growing more optimistic about the economy, a sentiment that is benefiting President Barack Obama.
Relgious groups question Goldman on pay
Goldman Sachs Group executives and shareholders gather this morning for the company's annual meeting. And the place might resemble a house of worship.
http://www.wthr.com/story/14585209/relgious-groups-question-goldman-on-pay?t=2011-05-06T06:53:09Z
Buffett says odds of another US banking crisis low
Billionaire Warren Buffett says he doesn't think another U.S. banking crisis is likely, but sovereign debt issues in Europe remain a concern.
Mortgage Industry Changes Bring Good News for Home Buyers
Recent changes in the mortgage industry have some people worried. While it may seem like bad news for those seeking a home loan, it really is good news. It means no more bad loans and no more predatory loans. It means you will get a loan you deserve and a loan you can afford. Overall, it will be good for everyone. When looking for a loan, keep an eye out for the big three loan factors.
#1 A Word on Application Fees – The application fee while necessary is not a binding contract. Lending companies use the application fee to run your credit score and start the process. However, you can cancel the process at anytime. You are under no obligation to stick with the lender if you find a better deal or if you feel uncomfortable. Although you will not get your application fee back, do not let this stop you from canceling.
#2 How the Safe Act Affects You – The Safe Act means a loan writer has to pass a test before they can write a loan. You can use this information by asking if the person you are working with has passed the test. If they have not, then you know they cannot write the loan. You are not working with a lender. You are only working with a go between, a negotiator or an agent. How you handle this information is up to you. You will want to find out this information before you pay the application fee, as it will save you time and money.
#3 The Good Faith Estimate – As of January 2010, the laws changed about when lenders had to tell you about changes. Now lenders must tell you within 3 days of finding out about changes. They also must give you time before closing. This gives you time to think about what you are signing instead of springing it on you last minute.
It’s easy to lose sight of what you need on the Web searching for facts about mortgage deals, but we want to help you.