HawthorneVillager.com

http://www.cnbc.com/id/101137648

A must see f

Smoke and mirrors will not help as america crumbles



Bank of America BAC is looking to cut 3,000 mortgage jobs before the end of the year to cope with declines in refinancing and in its portfolio of delinquent home loans, according to a source.

About 1,200 mortgage employees received notice that their position would be eliminated on Thursday. A majority of the 3,000 cuts will come from temporary contractors, though full-time employees will also be laid off, said the source.

A Bank of America spokesman did not immediately respond to a request for comment.

The second-largest U.S. bank laid off more than 9,000 full-time employees in the third quarter. Finance chief Bruce Thompson said on an Oct. 16 conference call with analysts that the reductions were concentrated in the unit that collects payments on current and delinquent home loans, the unit that makes new home loans, and in many of the bank's branches.


(Read more: Bank of America loses fraud trial over mortgages )

Bank of America made $22.6 billion in home loans in the third quarter, down 11 percent from the second quarter. The number of mortgage applications the bank had received but not yet processed fell 60 percent from the end of June to the end of September.

Additionally, mortgage loans that were delinquent by more than 60 days fell by 94,000 to 398,000 in the third quarter. The bank expects delinquent loans to be below 375,000 by the end of 2013.

Rising interest rates have curtailed customers' demand to refinance their mortgage since the spring. The interest rate on a 30-year mortgage stood at 4.39 percent in the week ending Oct. 18, according to the Mortgage Bankers Association, down from a high of 4.80 percent in September but above the 3.59 percent rate in early May.

(Read more: Bank of America beats as cost cutting, credit boost results )

Bank of America expects to make fewer home loans in the fourth quarter and will look to cut more mortgage jobs, chief executive Brian Moynihan said on the conference call.

The Charlotte, North Carolina-based bank is not the only lender to lay off staff in response to a slowdown in refinancing. Wells Fargo WFC, the largest U.S. mortgage lender, said on Oct. 17 it is cutting 925 mortgage jobs. That comes on top of the 5,300 Wells Fargo mortgage employees that were notified that they would be laid off in the third quarter.

Humour me with the european free trade deal pending Billy, will cheaper bmw make it a sell for canadians? Are our cheese producers doomed?
Your honestly and insight appreciated.
Thanks in advance,

REALLY!! THE US IS FINISHED!! I don't think so. Anybody can go youtube post videos and be a critic. When you dig down deeper into the video the ones posting there message are trying to sell you there product!!

Good ole marketing sell people on bad news works all the time. Try my strategy it will help you get out from all that debt blah, blah, blah blah, blah!!

Go figure the US is kicking ass all over again!! Ned Goodman is a resource guy he is as good at this propaganda game as anyone of them

The nerve of you to suggest billy is misrepresenting.
With 46 posts you may get a pass,
Refrain in the future, some need and welcome his insight,
Keep em coming bill.

Walmart wants you

http://www.financialpost.com/m/wp/news/ ... 2013-11-14

https://www.youtube.com/watch?v=g2b-1SL ... ata_player

Classic lol

The only thing missing in toronto is a few uzis and amo...a coup with out the weapons no different than the resrof the world and then there is our fearless leader, kathleen wynne, elected by who? Right ok

Ha , Ha
Priceless!

http://edition.cnn.com/2013/11/26/world ... ?hpt=hp_t1

Start a conflict with China
there you go, we all know thats coming

one way to avoid paying the piper

But while the Fed was gaining much attention by saying nothing, the Chinese made a blockbuster statement that was summarily ignored. Last week, a deputy governor of the People's Bank of China said that buying foreign exchange reserves was now no longer in China's national interest. The implication that China may no longer be accumulating U.S. government debt would amount to the "mother of all tapers" and could create a clear and present danger to the American economy. But the story barely rated a mention in the American media.  Over the past decade or so, the People's Bank of China has been one of the largest buyers of U.S. Treasuries (after various U.S. government entities that are essentially nationalizing U.S. debt). China currently sits on $1 trillion or more in U.S. bond obligations.So, just as many expect that the #1 buyer of Treasuries (the Fed) will soon begin paring back its purchases, the top foreign holder may cease buying, thereby opening a second front in the taper campaign. This should cause any level-headed observer to conclude that the market for such bonds will fall dramatically, causing severe upward pressure on interest rates. But the possibility is not widely discussed.


From peter schiff

Put it together

Http://www.youtube.com/watch?v=DADfTSS- ... ata_player


Cheers

Check out this video on YouTube:

http://www.youtube.com/watch?v=l4XfNiqw ... ata_player


Sent from my iPad


A recap. Blast from the past..

Check out this video on YouTube:

http://www.youtube.com/watch?v=7H80JLOU ... ata_player


Sent from my iPad

Dead banksters

http://www.bayview-news.com/2012/11/lor ... o-sun.html


Dont speak your mind or else ......