second loan and then you can get a perkins loan. and then you can end up being in the newspaper for having borrowed so much he that people write articles in "the wall street journal" about how we've create add circumstance where students are overborrowing and pay back their student loans. so i think the lyle is the quesy is, should taxpayers spend money over the years to make it possible for a student to go to a $50,000 a year school or should taxpayers spend that money to create a year-round pell grant and additional pell grants for low-income students who want another two years or four years of education? i think that's the question. and the government is about setting priorities. if we had an unlimited amount of money, we could have everything, except we do have a problem with overborrowing. and complexity. and when you add a third loan on top of two other loans so you can go to a $50,000-a-year tuition college, that's a choice that america has to make. i'm proud of the fact that we have those choices. but we've -- we have lots o

a loan. we were desperate and panicked. we realized we were taken to the cleaners. we were shocked when the complex math and contract was broken down by a reporter and explained to us that we were paying over 30% interest on our advance. the paperwork we signed did not disclose the interest rate. it did not break down how the numerous fees were paid to structured investments raised our interest rate. an example of these fees are the thousands of dollars we paid for a life insurance policy on me, required for the advance of our structured investments, listing structured investments as a beneficiary. and we needed to continue to pay this two years after the loan was paid off, because we needed consent from them in order to stop the insurance policy. we ended up paying more in interest with our pension advance than we would have paid if we simply paid off the interest over time on our existing debt. moreover, we learned after the fact that there were alternatives we could have used to reduce our

then hopefully graduate to large loans from capital one and also the city mayor and the team with the city has been incredibly helpful in facilitating the connections to local organizations working with underserved small business this would not have happened we wouldn't be able to help (calling names) tinder economic development project urban solutions and 50 other groups in san francisco that have actually promenade it in helping businesses like derrick's discover the keva playroom so the call to action for example, aura small business inform san francisco and struggling think about crowd funding and think about keva.org and get on to will have a zero percent along these 95 percent of businesses that post the loan gets funded in thirty days if you live in the city and you care of is economic vibrancy this is a simple way to liking a facebook you can now invest $25 with that, i want to to your knowledge cushion to you get involved and thank you very much again to capita one of the city of the list of the huge list of communicated supporters that make it easier for small businesses lik

put as much time into researching the loan as you do your new car. >> whatever the loan, consumer reportsends putting a down as much as you comfortedblely can afford. i'm not there on that. i'm telling you, if you think you can do better in the stock market or with a bond, you ought to do that with your money. you shouldn't just automatically -- >> 2%, sometimes less, you're better off spending their money than yours. >> it is raining in parts of the bay area. >> right now, a little fun, right? >> plenty of sun showers. abchutely. don't be misled by the sun. there are some pockets of instablgt with showers and thunderstorms. we'll talk about where it has been pretty active. still an active scene there. remember those thunter storms they're headed towards 580. heavy rain with those thunderstorms. you see the movement, it is southeastward. some showers were goping just northwest of winters. rainfall, here's what we've received so far. really, nothing nice to report in san francisco and oakland. 66 in san francisco, 74 san jose. half-moon bay, 66 degrees. low to mid 70s from santa rosa to na

been loaned.arrisburg was loaned money by wall street that it never should have bemoaned. it is a similar concept for girl and then they paid the price for that. although if certain things happen to individuals to pay of price but to raise city perhaps you don't? to know that it will affect those individuals. but the people of this city suffered. that harrisburg became the 20th most dangerous city in america. 20th most dangerous in this country. little harrisburg. 49,000 people it didn't have money to repair streetlights or potholes' or do the things it needed to do to keep quality of life ashley people that were living here proposing calls for opening up for i covered this story on jane reversed a giant sinkhole for actually three that open and not far from here and when they opened all the utilities were cut off for the people that lived there and they had to evacuate. a bitterly cold day the susquehanna and it was freezing that day. i noticed there was a red light in someone's house i knocked o

a loan." after having done this for 20 years, if it quacks like a loan and waddles like a loan, it's probably a loan. but they went to great lengths in order to avoid having typical contract loan language and discounting that it was a loan. one thing that was interesting and we caught them on was there were a number of cases early on where people tried to discharge in bankruptcy, and we were able to get the bankruptcy records with the same company coming in saying, no, no, no, it's not a loan. it's an assignment. so then we go to california and they say it's not a loan, it's not assignment, now we've got them. >> they say it's not a loan. >> you want to avoid the usury statutes. truth and lending. and they want to avoid having it discharged in bankruptcy. >> so they don't want to make the disclosures. they don't want to comply with the laws around loans. so they go to the other side and they say they're not loans, they're assignments. so let me ask that question then. if these are assignments

but these are not million dollar loans but small businesses typically don't need million dollar loans. >> i'm watching, this seems interesting, i need $100,000 there is a clearing house. >> there is. >> where? >> it's called company lending solutions.com. and they have access to all these different lenders out there that you don't know who they are but they are the ones who are going to do the underwriting. >> what questions do i need ask? >> make sure it's a legitimate lender and the interest rate is not ridiculous either. the hedge fund is going to want a return on its money. remember, cash is at zero these days so if they earn 5 or 10%, they will be happy. >> how do interest rates compare to the i get a bank loan? >> those -- bank loans for the most part are collateralized. they want secured loans, that's why the interest rates may be lower because if you don't pay they are going to take your factory or inventory. these tend to be unsecured in that there is no inventory. so that's why the interest rate may be higher. >> a little or a lot? >> maybe 10% or something. depends on the s

the average debt that an individual carries in student loans -- in student loan debt is about $29,000. that is crushing debt that for years, to be burdened with. i mean, even president obama, you know, not long prior to becoming president, he and the first lady have both talked about how they only just had paid off their student loan debt, just before they took office. imagine. into your not even -- late 40's. still paying off your debt from college and post graduate school. it's outrageous. yet republicans and let's make sure that we zero in on brass tacks here, republicans have consistently denied americans the opportunity to reform the student loan programs so that we can ensure that when they are paid a salary, that it is in line with how much they have to actually pay back out of their monthly paycheck to make sure they can make ends meet. mr. swalwell: i don't know if mr. ryan or mr. jeffries has heard of constituent casework like this but we have constituents in our district who are having their social security checks garnished because of student loan debt. so mr. ryan, i would

a couple of comedians weighed in on the payday loans. >> 41% of those surveyed who taken payday loansp having a bar from family or pond possessions or other things they could have done in the first place just to pay off that payday loan. and yet payday loans superficially look easier. all of these commercials are enticing and also they are everywhere. the least we can do is launch a counter campaign with celebrity spokesperson of our own to remind people to make sure they explore all their better options first. >> hi, i'm sarah silverman. if you're considering taking out a payday loan, i would like to tell you about a great alternative. it is called "anything else." instead of taking out a payday loan, you literally do anything else. , as wehrsa baradaran wrap up, the significance of what they are saying and also talk about postal banking. >> they say "anything else" but what? whenever i talk about this, people say, ok, people need to be educated on the harms of these loans. i think a lot of people know full well the harms of these loans, but what is that anything else? she goes into

the bank will never give me a loan now. if this business is causing you more worry than pleasure - maybe you should think about selling it. - and then what would i do ? you could start another business. doing what ? this was my dream. then i guess you'll just have to fight for it. i like your idea. i just don't know what weapons to use. i'll get it ! crossroads cafe ? yes, of course. one moment, please. mr. brashov, it's mr. littleton from the bank again. i'm sorry. mr. brashov stepped out for a moment. but i'll make sure that i give him the message. yes, of course i'm sure ! you're welcome. good-bye. - you're going to have to talk to him sooner or later. - i know. but not until i figure out what to do. what are you going to do ? i mean, about us ? i don't understand. - which one of us are you going to let go ? - we need to know, mr. brashov. is it jamal ? where is jamal ? - we haven't seen him. - but he isn't sick. we think he's out looking for another job. is he the one you're firing ? believe me, i don't want to let anyo

sure people could pay their loans back. .. windows security started to lose value, everyone started to take a huge loss and what they were doing buying these loans that had already been sold off to investors by wall street, that was a screwed up thing and they were trying to satisfy their wall street pack on those products, so they were trying to satisfy their housing goals, also. i went to pause on this issue of the housing goals in the crisis because i think there is this misconception that i think is worse than people who understand the issue because it's so much intellectual he dishonest because putting people who could not afford homes into homes is so dishonest. it was the majority of risky loans that were packaged up and turned into securities were not paid for the purpose of home ownership. whereby someone takes out a bigger mortgage, takes the cash, uses it to pay off bills, pay down a third data may be going vacation, maybe remodeled their house, but if you had intimate those loans and of the crazy investment loans w

>> if you get a bank loan, those are typically higher. bank loans are collateral.hat's why the interest rates may be lower. if you don't pay they'll take your factory. that's why the interest rate may be higher or -- >> or a lot higher? >> not that much. depends on the situation and credit. >> great. jordan, thank you for stopping by. >> very good. thank you, j.j. >>> travel can be a necessary but tedious part of running your small business. here now are inc.com's tips. >> choose one airline and stick with it. the better you should expect to be treated. two, sign up for tsa precheck and global entry. these programs can dramatically reduce the time you spend in security lines. >> three, play attention to flight delays when booking. take a look at a specific performance. skip airports or flights that are delayed more than half an hour. it can pay off. four, ship what you can. now that airlines charge for almost every checked bag, there's a good chance shipping your stuff would be competitive. and five, select your seat late. choose seats where you won't be next to an

the problem is the standard for the loans were getting riskier and risk your. so, around 2005 they did two things. they started buying some of the wall street securities in their own portfolio using them to meet their affordable housing goals and decided we needed to get into this business. you can trace back through market share numbers and the exit to dance and executive presentations. they were terrified that they were losing the propaganda losing their hold on the market so they began to make risky loans. you can see by the numbers they guaranteed were never as risky to help bring down the system. it is a fraction of the default rate but nonetheless contributed to the crisis and it was enough to create the perception that fannie and freddie needed a bailout. >> host: one of the things people allege in the market crisis is that it wasn't only fannie and freddie the decided to take more risk but that these affordable housing goals try to get them to take on more risk. they keep and produce profits and you can see that through executive presentations at the ti

risking loans packaged up into securities. they take the cash and use it to pay off bills and pay down their debt and may be remodeled warehouse. if you haven't done all of the crazy investment loans where people are buying seven or eight properties there wouldn't have been a financial crisis. so, the crisis becomes a referendum on the homeownership if it approves this idea that we should never extend credits to people who might be on the margins of being qualified it's not a referendum on that one way or another. it's a referendum on people who can't afford to pay it back to those partners at every income level that is not on the homeownership rate >> host: there've been entire books written even recently that claim any and freddie for the crisis so i guess why did this become a kind of slept for -- >> guest: i think that it is a clear way to simplify the issues in the clarity if you can see the government caused the financial crisis you have a simple explanation if you don't have to say it was all these complicated factors y

homes because fannie mae and freddie mac didn't make their own loans, but they would buy loans from originatorske banks. 30%they were told in 1992, of all the loans that you buy each year have to be made to people that are at or below the median income. in the places where they lived. if you look at these charts, you can see that we actually started them in 1996, not in 1992 because by 1996, it had already risen to 40%. of the top. but there were three kinds of categories: one was low and moderate income, the next was underserved areas, largely minority areas, and then special affordable, people with incomes that are 80% or even 60% of median income. and so, over the years, as you can see, those -- those requirements went up. the black lines are the requirements on fannie mae and freddie mac. the red and green lines are fannie and -- freddie exceeding those goals each year. but what happens when you are required to by more than 50% of all your loans from people who are at or below the median income where they live or, in some cases, 80% or 60% of the median income where they live? fannie and fr

likewise, interest rates on car loans, personal loans, mortgages and myriad other consumer loan products are clearly and conspicuously displayed. but as we will learn today, that is not true for so-called pension advances. pension advances are agreements under which consumers usually retirees receive cash lump sums in exchange for part or all of their monthly pension check. the effective interest rates on these lump sum payments can be outrageous. one company charged nearly 120% last year. that fact, however, is hidden in the pension advance agreements which do not include the simple and clear disclosures required by law for consumer loans. instead, these contracts are so convoluted that it is difficult for consumers to realize just how much their lump sum pension advance is really costing them. by way of comparison, i would like to direct your attention to this chart. using the state of washington as an example, this chart shows the average interest rate charged on various forms of consumer debt compared to the effective rates on pension advances. the first three bars from the left show

to buy of the loans that the lenders have made so then they make more loans. said the idea was this would foster home ownership and this was the beginning of the annie mae with a unique system no other country has a 30 year fixed rate either in most credit that to the existence of a peony and freddie. they have grown to be absolutely eagerness to gather with older guarantee of mortgage related debt. critical to the functioning of the financial system that is what makes our lives possible they expect to have a mortgage rate quoted to you. >> in recent history as one of the first to companies to be taken over by the government to be responsible for the financial crisis. and this is how far we have gotten. >> but the idea there is the silver lining with a global financial crisis you are riper but the first to companies but then to be bailed out by j. t. morgan. with that by line of credit from the treasury and when they were taken over the adn said this would be temporary to figure out how to reform the housing finance system and here we are seven years later the

this institution still has a loan, $32 million loan, from pre-castro cuba on their books. when they tell you, oh, we have this tiny amount of charge offs, what they are telling you is a lie. do you remember the hearings we had where we had the discussions what their impayments were? they just staired -- stared back at you because they didn't want to have that discussion. because every other financial institution has to honestly say, here's our impairments. this one, it was oil. we only had this level of charge up. what they are not telling you they are still carrying loans that have sat on the books for 50 years without a payment. look, to every citizen of this contry, understand when this piece of legislation passes you have just been put on the hook. your credit has just been put on the hook for these types of loans. that's what you intend to do to your taxpayers? that's what you're going to do to your constituency? look, this piece of legislation also reports to have reforms in it. the reforms in it if they are not already doing these things, they already should be lock

well, i didn't pay my car loan. on time. there's all kinds of mechanisms that have to do with policy choices, explicit policy choices. that's not in our national conversation. guess what. it's hard to start a movement. we have a great movement around policing right now because we can point to explicit practices and policy choices. wind you are talking about gaps in disparity, you don't have a villain. there's no, something, to move against the it's all about you just need to get yourself bank. >> i get to beckham so what's the alternative? what is the hashtag or the way to get people to think about people and not some line graph when we talk about this issue? >> i mean, i don't have the answer. good question. >> i mostly think about white people, not black people. because most white people think that they are discriminated against and they are discriminated against more than black people are discriminated against in this country. the polls are just overwhelming that they think special treatment for blacks and blacks get more

this institution still has a loan, $32 million loan, from pre-castro cuba on their books. when they tell you, oh, we have this tiny amount of charge offs, what they are telling you is a lie. do you remember the hearings we had where we had the discussions what their impayments were? they just staired -- stared back at you because they didn't want to have that discussion. because every other financial institution has to honestly say, here's our impairments. this one, it was oil. we only had this level of charge up. what they are not telling you they are still carrying loans that have sat on the books for 50 years without a payment. look, to every citizen of this contry, understand when this piece of legislation passes you have just been put on the hook. your credit has just been put on the hook for these types of loans. that's what you intend to do to your taxpayers? that's what you're going to do to your constituency? look, this piece of legislation also reports to have reforms in it. the reforms in it if they are not already doing these things, they already should be lock

with a 72 month loan with interest would be over $1300. and 84 month loan would be even higher. another problem with the loan, her car will be worth less than what she will owe. >> you'll spend extra time in the outside down situation. you won't get enough money to pay off the loan. >> if it's totaled in an accident, the check from your insurance company may not be enough. consider where you'll get your loan. more than 70% of car loans are financed at the dealership, but take your time to shop around. >> local banks, credit unions and online banks may be able to offer you a more competitive loan and a lower interest rate. >> the key to getting the best deal on the car loan, put as much time into researching your loan as you do your new car. >>> his conviction thrown out, coming up why a man who has spent 25 years behind bars for the murder of a tourist is getting a new trial. >>> how the food a man brought >>> we saw the crash, now we see the shooting. >>> tears of relief in court as a man who has spent 25 years in prison for the murder of a tourist in midtown has his conviction

likewise, interest rates on car loans, personal loans, mortgages and myriad other consumer loan products are clearly and conspicuously displayed. but as we will learn today, that is not true for so-called pension advances. pension advances are agreements under which consumers -- usually retirees -- receive cash lump sums in exchange for part or all of their monthly pension check. the effective interest rate on these lump sum payments can be outrageous. one company charged nearly 120% last year. that fact, however, is hidden in the pension advance agreements which do not include the simple and clear disclosures required by law for consumer loans. instead, these contracts are so convoluted that it is difficult for consumers to realize just how much their lump sum pension advance is really costing them. by way of comparison, i would like to direct your attention to this chart. using the state of washington as an example, this chart shows the average interest rate charged on various forms of consumer debt compared to the effective rates on pension advances. the first three bars from the left

so, we got to go with the loan mod. >> got to go there. >> so, understand that if your loan mod is approvedout of 10, whatever your arrears are -- penalties, interest, things like that -- they will take that, and they'll put it to the back of the loan. >> right. >> but it sounds like you're close, and you deserve it because you've lived here 18 years, you're good citizens, you're great americans. i'm going to explain exactly what karen and dennis need to do to save their home, when we get back. and we're gonna follow their story and check back with them in a few weeks just to see what's going on. [ woman vocalizing ] ♪ >> welcome back. i'm bob massi, the property man. and now it's time for the massi memo. earlier, we met karen and dennis, fighting to save their home of 18 years. now, they have a few options, but the only thing i see really that's gonna work for them is a loan modification. they need to get the bank to understand their situation and that it's in their best interests to keep them in the home and do something with their mortgage so they could afford the payment. so, i'm gonna

shady refinancing company for a get people falling behind on the home loan, car loan or student loan.ise lower payments but they're really extending your loan so you end up paying more. >> you never sign over any paperwork or sign any documentation stating that they have control of your loan. john: credit counselor says research any lender and be careful of ads with the f.h.a. or logos and images of president obama. you can lose your home. beware of any lender who requires a large upfront fee or tells you to stop paying your loan and pay them instead and throws around the terms like f.h.a., hope, harp. don't respond to the ads that could leave you worse off like tom did. so be skeptical to lower the monthly payment. don't waste your money. i'm john matarese, abc7 news. leon: a car found overturned in the water off the b.w. parkway. a person found inside. tonight the search for clues into what happened and how long it has been there. >> what i saw was one of the most horrendous things i've seen in 28 years on law enforcement. >> leon: that we saw that led to an arrest. and health warni

but that's the end of the loan?loan. >> so, we have a modification -- signed agreement between all parties? >> yeah. >> okay. you saved a little bit on your monthly payment, which helps. >> couple hundred. it helped. >> everything helped. >> yeah, definitely. >> but, more importantly, what you were concerned about was what was owed. were they gonna make you come up with that money? that allowed you to take a deep breath. >> that's right. >> and so with that -- now, i know you're working now. things are better with you, employment-wise. things are good with you. you successfully made it through some tough times. >> really bad, yeah. >> what's your message to those people who still find themselves wanting to keep their home? >> find someone like you. [ laughter ] >> it's true. >> just keep going and keep going. don't lose faith. >> that's it for today. be sure to send me your questions or property stories at... and check out our website at... i'm bob massi. i'll see you next week. [ woman vocalizing ] >>> good saturda

likewise, interest rates on car loans, personal loans, mortgages and myriad other consumer loan products are clearly and conspicuously displayed. but as we will learn today, that is not true for so-called pension advances. pension advances are agreements under which consumers usually retirees receive cash lump sums in exchange for part or all of their monthly pension check. the effective interest rates on these lump sum payments can be outrageous. one company charged nearly 120% last year. that fact, however, is hidden in the pension advance agreements which do not include the simple and clear disclosures required by law for consumer loans. instead, these contracts are so convoluted that it is difficult for consumers to realize just how much their lump sum pension advance is really costing them. by way of comparison, i would like to direct your attention to this chart. using the state of washington as an example, this chart shows the average interest rate charged on various forms of consumer debt compared to the effective rates on pension advances. the first three bars from the left show

poor loan quality. rising bad loans.rofitable loans korea the most erotic number we have seen is from bank of china. these banking stocks have gotten killed. stocks likely to be key movers in the hong kong session. we will be watching the financials. very closely. thank you for that. checking in on big baking stories. shareholders were left short on details. the co-ceo says deutsche bank will withdraw from countries as it tries to reduce a shares slump. in retail banking, we expect to reduce our product offerings by a third or so. we are exiting 10 countries completely where we do not see prospects of successful development. have ao not believe we sufficiently robust environment. costs taking a toll at barclays. they cut profit outlooks for next year. due to a a $60 million misconduct charge. this hurt third-quarter results. net income missed estimates by 10%. confirmed a ceo to accelerate cost cuts and boost profits. standard charges may be looking to boost $4 billion. they are trying to boost their balance sheet. made

two quarters in a row of real loan growth and a loan runoff is still happening, but loan growth is nothat. consumer loans up 4.5%, wealth management loans and global banking up about 10%. four straight quarters without legal fees totally wiping out profits. there were concerns, you have weak trading, not enough data to predict how q4 will turn out. and donofrio said 40% of its portfolio are not tied to oil, but 60% is. moynihan said the transition of executives will continue as planned until the next resubmission. they said there's no radical change in the management style with the new executives. people are watching ccar, how the fed will look at bank of america's processes and how much capital they can give back to shareholders. >> particularly with the problems in the past with the same view. >>> let's get down to rick santelli, on the floor here for the santelli exchange. rick? >> listen, in chicago, there's two legends. one is ernie banks, the other is art cashin. >> thank you. >> absolutely. art, when you look at the data, i see a trajectory of less than stellar data, not recessi

mae and freddie mac did not make their own loans but they would buy loans from originators like the banks. 30% ofre told in 1992, all of the loans that you buy each year have to be made to people at or below the median income. in the places where they live. if you look at the charts, you 1996, not started in in 1992 because by 1996, it had risen to 40% up at the top. but there were three kinds of categories. low and moderate income, below median income. the nets was underserved areas, largely minority areas. as special affordable, people with incomes 80% or 60% of median income. and over the years as you can see, those requirements went up. the black lines are the requirements of fannie mae and freddie mac and red and green lines are fannie and freddie in meeting those goals each year. what happens when you are required to by more than 50% of all of your loans from people who are at or below the median income where they live or in some cases 80% or 60% of the median income where they live? fannie and freddie were famous in 1992 before this law went into effect for buying only prime mortga

modify the loan, reduce it to a price we can afford. we'll even pay more than the value of the house, but get it down to a reasonable amount. i said, "the other option is we're gonna walk out of the house like most of our neighbors did." we were watching these people, these big-time people, get bailed out and getting all this free money that was passed to them and getting relief. and here, we're just little people. we're just out here trying to live in a house, and we can't even get anybody to talk to us, much less make a deal, as far as modifying a loan or anything else. you simply could not get anyone to have a conversation with you. i spent 23 1/2 years serving this country all over the world, and it was humiliating to think about what we had gone through and all the -- why can't you just pick up the phone and talk to somebody? >> work it out. >> when we were in the mediation, they asked me to start, and i told them basically the story that i've just said, talking about here. and the first thing the bank representative said -- "well,

i like that term, forgivable loans. they provide down payment assist toons the teachers so they can buy a home and continue to teach and live in the city. our school district and our office will jointly fund a housing development for at least 100 educator house holds. we will provide rental assistance frs at least 100 educators and provide at lease 250 thousand dollars of housing navigation counseling recollect if you will to over 100 education households within the next 5 years. all 4 of these programs are important because we heard in our discussions with teachers, with representatives, that not unlike the housing challenges in our city, the challenges for the teachers are just as variesied. stabilizing rental assistance, opportunities to buy a home through downpayment assistance and program and counseling all of that is important to keep the teachersism we believe the programs in the funded manner and we plan and the strategies we discuss it will allow at least 500 teachers afford to be here in san francisco through

also, the government is offering a plan to help with student loans but is it good for consumers? here's what you should know for your information. student debt is now a staggering $1.3 trillion and the consumer financial protection bureau says one in four borrowers is either behind in their payments or in default. vanessa is working to stay on top of her bills. >> i'm going to go med school so i'll go deeper. >> reporter: how much further do you have to go? >> at least 45 to 50. >> reporter: the department of education is k looking at changing as you earn limit. they are looking at changing rules for married couples who declare financial hardship. they look at incomes for both spouses and not just the borrower. with health insurance coverage, it's open enrollment season. medicare open enrollment began yesterday and runs through december 7th. the marketplace opens nevember 1st. enroll or make changes by december 15th. and you should know if you don't qualify for a waiver, penalties fotwr not having health coverage jump dramatically as of january 1st. if your income is under $80,00

and in terms of credit losses, the bank set aside millions for bad loans.down from what was aside last year and in the second quarter. which was amazing. scarlet: all of the energy credit, right? alix: right, in breaking down jpmorgan. johnson has more on a stock that is up in after-hours. cory: joining me now a guest from the intel headquarters. stacy, when you look at the interesting moving parts, what i was really struck by what was going on in the pc business, and the continued declines we see. both in notebooks and desktops. what have you seen? and theh what we: business has been offset by what you saw in the pc segment. the pc segment came in actually a little better. the quarter was a little better than we thought. you saw better pricing in your chips sold. you were thinking that the lower volume, it would be tougher to get price. ith: for us, it comes down to innovation. quarter thein the architecture. we saw today apple making an with the imac and s, so that is giving us a bit of an uplift as we go into the third quarter. cory: the macbook is an am

if you look at wells fargo, it is, what, 2% of their total loans?id: i want to get you both to react to the regulatory hurdles faced.lls has talking to the ceo of bank of america, talking to many executives, and one of the things he looked at is how they are managing dodd-frank. inwe are still not even done terms of that. i think the best answer is to stay the course. it has made it safer. it has made it simpler. you have got living wills and everything. let's just let this operate. thereforeit of praise there forise their -- dodd frank. wells never had to pay the settlements at everybody else did. yes, they had to pay something, but they came out relatively unscathed, but dodd-frank -- it is over regulation they went way too far. some had nothing to do with what drove the crisis, and i think the administration have to back off some of this regulation and allow the banks to lend. nobody is lending to that marginal market. fico trying to house, good luck trying to get a loan out there, and i think that is what is holding the economy back right now mo

, almost 50% are fha insured loans. of fha's total portfolio of first-time home buyers, african-americans represent about 10.7% of that and that is on the rise over the last couple of years. >> there are still americans living in environments where they're having trouble making payments when it comes to mortgage. what are the resources around helping them? >> over the last several years, hud has been very involved in trying to make it more feasible for folks to stay in their homes. we have programs, for instance, that work with lenders to encourage them to give folks an opportunity to adjust their mortgage payments, for instance. in certain instances, whether it was hurricane sandy or other natural disasters, we work with lenders to give folks extra time all of that has added up to default rates at fha we see are going down. so we're headed in the right direction, and with folks that are having challenges today, then they sow certainly seek out the help that hud and the department of treasury offered. >> tell me a littl

storm track seven meteorologist eileen loan is here now with your storm track seven forecast. winds are still strong from the west at 15 to 25 mph with gusts still over 30 mph at times. they will be slow to die down, but they will also keep temperatures in the mid 30s this morning from climbing much today... and it will keep it feeling even colder... wind chills are in the mid 20s this morning. we will stay breezy today and mostly cloudy with a stray shower tracking through. highs will try to get into the upper 40s to low 50s this afternoon. we do have warmer temps coming in for the weekend. i'll have that forecast for you in a few minutes. new this morning -- a big bump for ethanol. states are getting money to install more ethanol gas pumps. the u-s department of agriculture is spending 100-million dollars to install about five- thousand new pumps. iowa is getting about five million dollars of that money. but as the country's top corn-producing state, we could see benefits beyond that... from other states having these pumps which allow for higher blends of ethanol. and that b

trump admitted his dad loaned him a million dollars when he was young to get started. my next guest says he is out of touch with the average person. >> my father gave me a small loan after million dollars. all my life i was told no. million dollars isn't very much compared to what i have built. i've done very iconic things. awe believe active management can protect capital long term. active management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management. you can't breathed. through your nose. suddenly, you're a mouthbreather. well, just put on a breathe right strip which instantly opens your nose up to 38% more than cold medicine alone. shut your mouth and say goodnight mouthbreathers. breathe right technology empowers us it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. i

how many of the people in this crowd have student loans? how many have ever had student loans? had student loans. i had to pay them back. my husband had them. he had to pay them back. but it is not like it is today, where it cost so much and the interest rates are so high. we have 40 million americans with student loans. i want you to be able to refinance those loans to a lower interest rate and save thousands. if a corporation can refinance its debt, a young person ought to be able to refinance their your debt. and we need to make college affordable. i want to offer free community college and debt-free tuition at any public college or university. so that you can afford to go. because here is what happens -- if you are well off, even if your grades were not that great, you will have the resources to go to college and graduate. but if you are middle-class or working or poor, but just as ambitious, just as willing to do what it takes, you may not have the resources to start or you may not have the resources to finish. i'm going to do everything i can so that any young person in a

immediately contact the servicer of your loan about the zombie.e so far removed, you got to wake them up from the dead. if you get no response from the servicer, contact the consumer financial protection bureau and file a complaint. and, finally, if there's no action at all, please get a tough, competent real-estate attorney to bring the lender back to life. we also heard about crowdfunding. now, this allows people to be involved in causes and investments they never dreamed of, including the world trade center and real-estate ventures and businesses. let me break down the different types of crowdfunding. donation -- a crowd gives money because they want to support a cause. or reward-based crowdfunding -- individuals form a crowd. they give money to businesses in exchange for some type of reward. and then you have the equity crowdfunding. members of the crowd -- they become owners of a business, and certain type of financial guidelines must be met, including, by the way, real estate -- not just businesses but real estate, also. and then you have de

as lenders familiarize themselves with these changes loans may take longer to close. the goal is absolute clarity for consumers. buying a home can be full of complications especially when it comes to mortgages. now the process is expected to get a whole lot easier. among the changes the number of bank disclosure forms will drop from four to two and the terms are expected to be clearer. >> you can look at two different loans side-by-side. say okay i'll be spending this amount of money on my loan, this is how much equity i'll build. >> jana is a mortgage analyst. she says lenders are required to give you a better picture of all your fees and costs three days before closing. >> not only your closing costs but also the cash that you need to bring to the table to close. >> billions have been spent changing software for the new rules from the consumer financial protection bureau. >> the cfpb spent three years figuring out how to do these documents, they had focus groups, focus groups with english and spanish and what they came away with people liked to see how much they pay

currently the federal student loan program which provides some 90% of all student loans is expected to generate $135 billion in profits for the government in the next ten years. and then on the other side of the argument, there is dr. ben carson who stated his belief in personal responsibility whether it comes to paying for college. he's not advocating for any legislation to make higher education more affordable. and then finally, chris christie, he proposes refocusing student federal aid to the most needing students providing income share agreements and that's where students can agree to pay for some percentage of the future income in exchange for financing. i'm sure we'll hear about that and much more tomorrow night on this debate. definitely student loan debt when you're at the university of colorado boulder is definitely a big issue that a lot of people care about around the country and right here as well. >> i didn't realize they have the candidates have such different positions and ideas about it. sharon, thank you very much. we'll watch out for that important issue. sharon epper