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Top Ten: MarketWatch’s top 10 stories of the week

The weekly highlights cover a broad range from Amazon to Facebook and from politics to payrolls.


Categories: Financial News

New York sues banks over electronic mortgage system (Reuters)

Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
Categories: Financial News

Taxing Times: Fewer tax changes, thanks to gridlock

The good news is that there aren’t a slew of tax-law changes to deal with this year. The bad news is that the changes taxpayers need to contend are not trivial. Read that story, plus find out how your Super Bowl bet will be taxed, all in this week’s Taxing Times.


Categories: Financial News

Real Estate Weekly: Home buyers give Florida markets another look

More people are looking to move to Florida than move out of it, with many house hunters from locales such as New York and Chicago searching for properties in the Sunshine State, according to a new report from Trulia.com.


Categories: Financial News

Personal Finance Daily: More jobs than you may realize

The U.S. economy added 243,000 jobs in January, some much-need good news after a long drought — though the past six months have been better, on the jobs front, than you may think. Read that story and more in today’s Personal Finance Daily.


Categories: Financial News

Video: Investing in Foreclosures: How One Company Does It

Buying foreclosures to turn them into rental properties is tricky business. Mack Companies, a Chicago real-estate firm, invests in about one out of every 40 homes it inspects. MarketWatch's Amy Hoak looks at why some make the cut and others don't.


Categories: Financial News

Retirement Weekly: U.S. lays out plan to enhance retirement security

The U.S. Departments of Treasury and Labor unveils two executive actions designed to “help enhance security for millions of Americans saving for retirement.”


Categories: Financial News

NY's Schneiderman sues banks in foreclosure effort (AP)

AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures.
Categories: Financial News

N.Y. sues banks over mortgage database: reports

CHICAGO (MarketWatch) -- The state of New York is suing Bank of America Corp. , Wells Fargo & Co. and JPMorgan Chase & Co. , claiming that they made fradulent use of an electronic mortgage database, according to published reports Friday. Attorney General Eric Schneiderman said the database, known as the Mortgage Electronic Registration Systems (MERS), has been used so that banks can "evade county recording fees [and] avoid the need to publicly record mortgage transfers," thereby making it easier to sell mortgages in large numbers, Reuters reported. The suit comes at a time when many Americans are in foreclosure or under the threat of such an action, due to the weakened economy.


Categories: Financial News

Chuck Jaffe: Why Facebook is likely to do a face-plant

You might like Facebook, but dig into the registration paperwork for the company’s massive IPO and the social-networking firm gets a big thumbs down. In fact, says Chuck Jaffe, it’s the Stupid Investment of the Week.


Categories: Financial News

Goldman to face mortgage debt class-action lawsuit (Reuters)

Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.
Categories: Financial News

Slide Show: Super Bowl XLVI: The countdown

Sunday’s match-up between the New England Patriots and New York Giants in Super Bowl XLVI could draw a record TV audience. It already has enticed 7,500 to pay for entrance to the event’s media day this week.


Categories: Financial News

If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool)

The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century."
Categories: Financial News

Emerging Markets Report: Major investors buying emerging-market debt

Behind a blizzard of negative headlines about the developed world’s debt problems, emerging-market bonds in Asia and elsewhere are catching the eye of global investment managers looking not just for yield, but also for stability and sustainable growth.


Categories: Financial News

Michael Sincere's Rookie Trader: 10 ways to trade penny stocks

The allure of penny stocks is simple: They don’t cost much money and promise big profits. But trading penny stocks is also a good way to lose money, writes Michael Sincere. Here are 10 ways to trade smartly.


Categories: Financial News

Conrad de Aenlle's Funds For Thought: ETF managed portfolios still finding their way

One advantage exchange-traded funds have over traditional mutual funds is they can be traded throughout the day. That’s also a disadvantage for most investors, writes Conrad de Aenlle.


Categories: Financial News

Realty Q&A: How to sell a share in your home

There are several ways to sell a share in your home, from sharing the space with others to selling future equity to an investor, Lew Sichelman writes.


Categories: Financial News

Analysis: Obstacles high for more mortgage prosecutions (Reuters)

Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.
Categories: Financial News

Mutual Funds Weekly: With index funds, the average outperforms

One rap on indexing is that you are guaranteed nothing more than average results. In fact, index funds may be ‘average,’ but the average can outperform.


Categories: Financial News

Rate on 30-year mortgage falls to record 3.87 pct. (AP)

AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
Categories: Financial News

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