Wednesday, May 22 2013 9:38 PM EDT2013-05-23 01:38:14 GMT
MOORE, OK - The trembling, mud-spattered dog whose photo went viral on Tuesday was not actually standing watch over her owner's body - her name is Susie, her owner is named Curtis Collins, and he's alive.ThanksFull Story >
There's a happy ending to the story of the little dog who was found standing guard over a body after the EF-5 tornado that decimated her neighborhood in Moore, OK. Her owner is alive, and they have been reunited thanks to the viral photo. Full Story >
Wednesday, May 22 2013 9:32 PM EDT2013-05-23 01:32:31 GMT
ORLANDO, FL (RNN) – A man with possible ties to a Boston Marathon bombing suspect was shot and killed after the FBI interviewed him early Wednesday. The FBI confirmed a special agent fatally shot a manFull Story >
A man killed Wednesday during questioning by the FBI said he and Boston bombing suspect Tamerlan Tsarnaev were accomplices in a 2011 slaying. Full Story >
Wednesday, May 22 2013 9:20 PM EDT2013-05-23 01:20:27 GMT
A suspect appeared in court Wednesday for allegedly sexting a minor. Landon Boettcher is accused of sending sexual text messages to a 14-year-old female. According to investigators, the messages includedFull Story >
A suspect appeared in court Wednesday for allegedly sexting a minor. Landon Boettcher, 28, is accused of sending sexual text messages to a 14-year-old female.Full Story >
Wednesday, May 22 2013 9:08 PM EDT2013-05-23 01:08:36 GMT
Wyoming residents are saying there's a troublemaker disturbing the peace in their neighborhood. Some are calling them a 'neighborhood nuisance'. "We have a dog, and we cant even let our dog out," explainedFull Story >
Wyoming residents are saying there's a troublemaker disturbing the peace in their neighborhood, with some even calling them a 'neighborhood nuisance'. Full Story >
Northwest Schools to hold multiple victim training exerciseFull Story >
(FOX19) - The Feds are proposing new rules under the Dodd-Frank bill that would put new requirements on lenders to prevent another housing crisis.
Before we get to that, how did we get in this housing crisis in the first place?
In 2002, the Bush administration urged Congress to pass the American Dream Downpayment Act, which subsidized the down payments of prospective home-buyers whose incomes were below a certain level.
Traditional mortgage loans with traditional safeguards began to decline and mortgage loans made under the "innovative" and "flexible" standards urged by government increased.
Yes, there were lot of lenders who were making loans to people who could not afford them, but don't kid yourself, Freddie Mac and Fannie Mae knew it was happening and supported it.
The Washington Post reported when the Department of Housing and Urban development or HUD "allowed Freddie Mac and Fannie Mae to count billions of dollars they invested in sub-prime loans as a public good that would foster affordable housing,"
You know the rest. All those bad loans wrapped into mortgage backed securities led to the housing market crash.
To be clear, Congressman Barney Frank oversaw Freddie Mac and Fannie Mae as the housing crisis hit. In response to the housing crash, Congressman Frank and then Senator Chris Dodd introduced and passed the Dodd-Frank bill.
That bill sets new rules for lending to now protect the housing industry.
The bill is massive, 2,300 pages. Bankers expect it to result in 5,000 pages of new rules as regulators turn its mandates into specific instructions for financial institutions in coming years.
In that bill, is a proposal to require lenders collect a 20 percent down payment from home buyers.
In the event that you want to buy a $150,000 dollar house, hardly a mansion, you would have to come up with $30,000 dollars cash.
Who has that kind of money in savings? Not most Americans.
According to study on retirement savings, fewer than 57 percent of Americans have even $10,000 dollars set aside for retirement.
So will everyone be locked out of buying a home?
Not exactly, lenders will be able to make loans outside of the 20 percent down payment but would have to keep in reserves 5 percent of the total loan amount
Here's what you need to know.
All these rules apply only to private lenders and banks. They will not apply to any FHA or Federal Housing Authority loans.
FHA loans require at the most, a down payment of only 3.5 percent.
In fact, between 2005 and 2009, the FHA loan program grew over 900%
Which means if these regulations go into effect, the only place most Americans will be able to buy a new home will be if they fund it through the Feds.
Tuesday, May 21 2013 10:31 PM EDT2013-05-22 02:31:55 GMT
The claim that the ongoing IRS scandal is limited to low level employees is falling apart. The six Cincinnati workers we have identified, who sent scrutinizing letters to conservative groups with wordsFull Story >
The claim that the ongoing IRS scandal is limited to low level employees is falling apart. Full Story >
Monday, May 20 2013 9:21 AM EDT2013-05-20 13:21:47 GMT
WILMINGTON, NC (WECT) - An Army wife who lost over 100 pounds while her husband was away in Afghanistan surprised the soldier Wednesday when he arrived at Wilmington International Airport. Misty Shaffer,Full Story >
A soldier from Wilmington returns from Afghanistan to a big surprise: a new wife, a new house and a different child.Full Story >
An Oregon girl abducted as a baby and missing for 18 years finally emerged in Dallas this week when her mother turned herself in to authorities, according to the Polk County Sheriff's Department. Full Story >
An Oregon girl abducted as a baby and missing for 18 years finally emerged in Dallas this week when her mother turned herself in to authorities, according to the Polk County Sheriff's Department.Full Story >
Monday, May 20 2013 5:09 PM EDT2013-05-20 21:09:30 GMT
A Warren County government office is evacuated after a suspicious powder is found. The Health and Human Services Center building on East Street in Lebanon was evacuated just after 11:00 on Monday. PoliceFull Story >
Police say that HAZMAT crews and the FBI were called to investigate the powder. The FBI has since left. Full Story >
Wednesday, May 22 2013 6:21 PM EDT2013-05-22 22:21:12 GMT
(RNN) - British officials are saying one man is dead and two others were injured in a possible terrorist attack in London on Wednesday.According to BBC News, eyewitnesses said man was attacked in a streetFull Story >
One man is dead after two men attacked him in broad daylight with knives and meat cleavers. Full Story >
Tuesday, May 21 2013 7:20 PM EDT2013-05-21 23:20:28 GMT
The Cincinnati Tea Party announced that it will protest the IRS on Tuesday over the targeting of liberty groups regarding their tax status. The protest will begin at Fountain Square at noon on TuesdayFull Story >
The Cincinnati Tea Party protested the IRS on Tuesday over the targeting of liberty groups regarding their tax status. Full Story >
Monday, May 6 2013 1:29 PM EDT2013-05-06 17:29:07 GMT
A man charged with public indecency is expected to appear in court. Police say 36-year-old Jason Fletcher and Laura Oditt engaged in sexual conduct in a public place. The location is not named in courtFull Story >
A man charged with public indecency is expected to appear in court.Full Story >
Wednesday, May 22 2013 11:38 AM EDT2013-05-22 15:38:38 GMT
A Brown County man has been arrested after an undercover drug investigation. Jeremy Collett, 30, of Winchester, Ohio was arrested and charged with two counts of Trafficking Drugs prescription pills toFull Story >
A Brown County man has been arrested after an undercover drug investigation.Full Story >
Wednesday, May 22 2013 12:47 PM EDT2013-05-22 16:47:42 GMT
A Cincinnati man who previously admitted to participating in a conspiracy to distribute heroin was sentenced to 162 months in federal prison. U.S. District Judge David Bunning sentenced Lee Moore, 43,Full Story >
A Cincinnati man who previously admitted to participating in a conspiracy to distribute heroin was sentenced to 162 months in federal prison.Full Story >