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I have long been a proponent of referrals when choosing whom to do business with. But even with a referral, you owe it to yourself to do some homework. In terms of a mortgage, you have always had the Better Business Bureau and local regulators (like state banking departments) that you could contact. Over the past few years, the internet search engines have become popular ways of finding information beyond a company’s or a loan officer’s website.  Two other places I strongly recommend you visit online (one for the company and one for loan officers) are:

1.)

This is the website for HUD’s Neighborhood Watch. Neighborhood Watch is where HUD publishes a lender’s loan performance on FHA loans and how it compares to the national and local averages.

A compare ratio of 100% means “average” performance. Numbers greater than 100% are below average. And a ratio under 100% is above average. Understand that the Neighborhood Watch numbers measure the quality performance of FHA loans only.

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China has given permission to Citigroup Inc. to issue credit cards within the communist country, a move which comes amid a probe by the World Trade Organization on the legality of Chinese restrictions on allowing foreign companies to process transactions.

Citigroup will be the first western bank to infiltrate China, and only the second along side Hong Kong based Bank of East Asia which first entered the Chinese market in 2008.

Currently, banks that wish to process within the country must co-brand with operators in the country and issue the cards in yuan.

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The Kellogg Company said on Wednesday that it would buy Pringles for about $2.7 billion in cash, swooping in on the snack company after an earlier agreement with Diamond Foods fell apart.

The deal will add a prominent brand to existing Kellogg snack offerings Keebler and Cheez-It, helping the company increase its presence in snacks. Beginning with its $4.5 billion purchase of Keebler in 2000, Kellogg has tried to reduce its reliance on its mainstay cereal business, which includes Corn Flakes and Rice Krispies.

The snack business is growing faster and has greater appeal internationally. In a conference call with analysts, Kellogg’s chief executive, John A. Bryant, said that Pringles, known for its signature canned potato snacks, is in 140 countries and offers “the potential for increased scale in Europe and a good entry point into snacking in Asia and Latin America.” Pringles generates about $1.5 billion in annual sales.

Wednesday’s deal also provides some relief for Pringles’ parent, Procter Gamble, which agreed last spring to sell the business to Diamond for $2.4 billion in stock.

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KPMG today announced its acquisition of the U.S. assets of Thomson Reuters Corporation’s (TRI) widely respected ONESOURCE® Indirect Tax Managed Services business.

The service will become part of KPMG’s Indirect Tax Compliance Services, which is part of the U.S. firm’s existing State and Local Tax (SALT) practice and KPMG’s Global Indirect Tax Service offering provided by KPMG member firms throughout the world. KPMG will maintain an ongoing relationship with Thomson Reuters through the continued use of Thomson Reuters’ underlying technology to power these U.S.-based services.

“This acquisition brings the market-leading technology, content and skilled professionals of the ONESOURCE Indirect Tax Managed Services business of Thomson Reuters together with KPMG’s demonstrated ability to manage the complex, evolving landscape for indirect tax in the U.S. and globally,” said John B. Veihmeyer, Chairman and CEO of KPMG LLP, the U.S.

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Weekly Wrap Up

Despite the news that last quarter’s GDP was the highest it has been in a year and a half, stocks ended mixed as this slightly missed economists’ forecasts and there are several signs that 2012 isn’t going to start as strong. One of those signs is a softening in home prices and home sales that occurred in December and will likely end up extending into January. Stalled talks among the European Central Bank authorities over how to deal with their Greek bond holdings also was cause of investor anxiety this week. More Market News

Economic News

U.S. GDP grew at fastest pace in 1.5 years in fourth quarter 2011The nation’s on-and-off economic recovery has picked up its pace, the Commerce Department reported Friday, with the U.S. economy growing at an annualized rate of 2.8 percent for the end of 2011.

That rate is the fastest recorded in a year and a half, and it follows three quarters of growth below 2 percent.

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As an old relationship adage goes, “Opposites attract,” so might your credit scores. Many marriages seem to unite polar opposite credit scores.

If your credit score is poor, but your spouse’s is good, is there hope for qualifying for a better credit card, auto loan, or mortgage?

The short answer is, “Yes.” However, there are a few things to consider when you and your spouse are applying for new credit.

When Buying a Home

If you’re married and want to buy a home, owning and financing the house together is common. But keep in mind that if you are applying for a mortgage together, your mortgage lender will look at both credit profiles.

Both of your credit scores, lines of open credit, credit payment history and especially any prior mortgage payment history will all be examined together.

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