High five: Five of the biggest U.S. banks have cut struggling homeowners’ mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses. More than 550,000 borrowers received some form of mortgage relief between March 1 and Dec. 31, 2012, according to a report issued today by Joseph Smith, the monitor of the settlement. That translates to about $82,668 per homeowner, according to the report, which is based on the banks’ own accounts of their progress.
On the grow: A measure of the U.S. economy’s future direction increased in January from December, suggesting slow growth will continue in the coming months. The Conference Board says its index of leading indicators rose 0.2% in January to 94.1, the second straight increase after a gain of 0.5% in December. In November, the index was unchanged. The gauge is designed to anticipate economic conditions three to six months out.
Sip by sip: New figures show U.S. wine exports grew for the third consecutive year in 2012, setting a record of $1.43 billion in revenue. The San Francisco-based Wine Institute, which released the figures this morning, says 90% of those exports were from California. The European Union remained the top market for California wines, accounting for about 34% of all sales. But the state’s wineries also saw significant growth in Canada and Asia.
Today’s poll question: Which of these possible candidates for Louisiana governor in 2015 would you vote for if the election were today?
