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Congress Warns Loan Servicers about Lackluster Efforts
Rep. Barney Frank has warned loan servicers that their performance is increasing chances that cram down legislation will pass. At the same time, a Treasury official testified to substantial progress in the HAMP program which incentivizes servicers to modify loans.
Mid-Day Recap: Stocks Inch Higher Ahead of Beige Book
Despite a slow open, equity markets have been quietly climbing higher on Wednesday, helped out by a series of minor but positive headlines that are boosting investor sentiment.rnrnApproaching 1pm, an hour before the Federal Reserve releases its anecdotal summary of economic conditions across the 12 Fed districts, all three US indexes are well into positive territory. The Nasdaq is leading the pack with a 1.25% advance to 2,063 ― its highest reading since early October. The S&P 500 has also hit an 11-month high as it treads up 0.87% to 1,034. Meantime, the Dow is up 0.64% to 9,560, just
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