Eyes on Fed after ECB, other bank stimulus moves

The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan. Thursday's larger-than-expected stimulus package from the ECB lifted U.S. stocks, helping indexes post gains for the week after three straight weeks of losses.


All eyes on Fed, Greece after ECB fires bazooka

After the surprises from central banks which rocked markets at the start of the year, the U.S. Federal Reserve will be watched as closely as ever this week to see that it doesn't stray from its own policy path. The atmosphere will already be tense as the fallout from Sunday's snap election in Greece settles and concern has grown in some quarters that central banks, which played such a big part in guiding economies through the financial crisis, are becoming less predictable. The shock of the Swiss National Bank abandoning its cornerstone currency cap had yet to fully subside when the European Central Bank said it would flood markets with over a trillion euros, more than expected, to prevent the euro zone from sliding into deflation. Canada also cut its rate out of the blue and Denmark did so twice to navigate a world of tumbling oil prices and weak growth.


Venezuela's currency woes an increasing threat to U.S. corporate profits

In a likely sign of things to come from a number of companies this results reporting season, Ford Motor Co on Friday said it was taking a pre-tax charge of $800 million for its Venezuela business. Ford also said that it was unable to maintain normal production in Venezuela with the availability of vehicle parts constrained. Also on Friday, diaper and tissue maker Kimberly-Clark Corp said it took a fourth-quarter charge of $462 million for its Venezuelan business.


U.S. existing home sales rise in December

U.S. home resales rose slightly in December, a hopeful sign as the housing market recovery looks to pick up pace in 2015. The National Association of Realtors said on Friday existing home sales increased 2.4 percent to an annual rate of 5.04 million units last month. For all of 2014, existing home sales fell 3.1 percent to 4.93 million. The housing market has struggled to maintain momentum since stagnating in the second half of 2013 following a run-up in mortgage rates.


Volkswagen to recall 80,000 Audis; 35,000 in China

German car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi due to issues with the fuel injection system, Audi said on Saturday, adding that around 35,000 of the affected vehicles ...


Exclusive: Big mortgage investors take first step toward suing Ocwen

Major mortgage bond investors including BlackRock (BLK.N), MetLife (MET.N) and Pimco (ALVG.DE) on Friday took a first step toward suing Ocwen Financial Corp (OCN.N), accusing it of having failed to properly collect payments on $82 billion of home loans, according to a person familiar with the matter and to documents seen by Reuters. The group sent a formal notice of non-performance to Ocwen and trustees for 119 residential mortgage-backed securities trusts, alleging improper loan modification practices, wrongfully recouped advances, and a failure to account for cash flows. The notice said that Ocwen also steered work to affiliates such as Altisource Portfolio Solutions (ASPS.O) and Home Loan Servicing Solutions (HLSS.O) for allegedly unnecessary or overpriced mortgage servicing to the detriment of the trusts, investors and borrowers. The investors said the trusts had losses of more than $1 billion because of Ocwen's failings.


Expedia Inc acquires Travelocity in $280 million deal

The deal follows a 2013 marketing agreement in which Expedia Inc's technology powered platforms for Travelocity's U.S. and Canadian websites, while Travelocity drove additional web traffic to Expedia. The merger marks further consolidation in the online booking space, which has seen a number of acquisitions from Expedia Inc's main competitor, The Priceline Group (PCLN.O), including its $2.6 billion takeover of restaurant reservation website OpenTable last year. "Given the success that they've had with integrating Travelocity into Brand Expedia (through the 2013 agreement), it's a positive outcome," said S&P Capital IQ analyst Tuna Amobi.


U.S. seeks reversal of landmark insider trading ruling

Federal prosecutors in New York on Friday asked a U.S. appeals court to reconsider a landmark ruling that curtailed their ability to pursue insider trading cases and jeopardized several convictions. Prosecutors under Manhattan U.S. Attorney Preet Bharara asked the 2nd U.S. Circuit Court of Appeals to grant a rehearing in the case of hedge fund managers Todd Newman and Anthony Chiasson, who in December won the reversal of their insider trading convictions.


Online data storage provider Box's shares soar in debut

Box's shares, which priced at $14, hit a high of $24.72 in morning trading on the New York Stock Exchange on Friday, valuing the company at nearly $3 billion. The stock's enthusiastic reception also underscored healthy investor appetite for technology stocks after the blockbuster debut of Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) in September. Box was founded in 2005 by University of Southern California dropout Aaron Levie, the chief executive, and his friend Dylan Smith, the chief financial officer. The Los Altos, California-based company has about 32 million users, compared with about 300 million for Dropbox, its popular privately held rival.


Diaper wars: Kimberly to take on P&G through innovation, higher ad spend

Industry analysts say moms are either going upscale and choosing Pampers or going down-market with Luvs, both P&G brands, leaving Kimberly-Clark's mid-tier Huggies Snug & Dry line without a real identity. To compete better, Kimberly-Clark said on Friday it would cut prices and "improve" its Snug & Dry line starting this quarter, without giving details. Huggies is the core of Kimberly-Clark's baby care products business, which generates about $7 billion in annual sales. Pampers, P&G's largest brand, alone has sales of over $10 billion.

It´s Fast

ICM Lending is a loan lender specializing in reverse mortgage. While we represent individuals for reverse mortgages throughout California, many of our clients have Orange County real estate and Los Angeles real estate. If you are 62 years of age or older and are interested in learning more about a reverse mortgage and how it can help to supplement your monthly financial needs, please contact ICM Lending...



251 Lockford
Irvine, CA 92602

Tel : 714-713-9193
Fax : 949-200-4541
E-mail: jack@icmlending.com

Mortgage & Real Estate Services

Our team is committed to providing our clients with the highest quality financial services combined with the lowest rates available in your area. Our outstanding mortgage professionals will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs. Whether you are purchasing your dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced team of loan officers can help you find the right loan program at the lowest rate no matter what your needs are...



It´s Easy

ICM Lending is a mortgage company that can help with your refinance needs. We refinance loans throughout California, particularly loans in OC and loans in LA counties. If you are looking for loan consolidation, ICM Lending can help you...



It´s Proven

Apartments and housing versus renting and buying. The decision is yours. If you are ready to purchase one of those houses for sale, ICM is your lending partner. ICM handles loans in OC, in LA, and loans in all of California. Our site has an easy to use online mortgage calculator so that you can look into your lending needs at your own pace. You may also speak with someone live at ICM Lending to discuss which loan program may best fit your purchase needs...