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WaMu loan underwriter recalls pressure (Seattle Times) As a senior mortgage underwriter, Keysha Cooper was proud of her ability to detect fraud and other problems in a loan application. But as a senior mortgage underwriter at Washington Mutual during the late, great mortgage boom, Cooper says she found herself in a vise.
Fed cuts key interest rate half-point to 1 percent (Lexington Herald-Leader) The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades. The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004. The funds rate has not ...