new report - 218 pages  - JOINT CENTER FOR HOUSING STUDIES of HARVARD UNIVERSITY - We are pleased to announce the publication of a new report, Understanding the Boom and Bust in Nonprime Mortgage Lending - 12 page intro.

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Army, major mortgage financers sign 'forbearance' agreement - By Gary Sheftick - The Army, Fannie Mae and several of the country' largest home financiers signed a memorandum of commitment Sept. 27 at the Pentagon which will help Soldiers and their families who are in trouble with their mortgages.  Mortgage lenders joining with Fannie Mae in signing the agreement with the Army included Bank of America, Citi-Mortgage, JP Morgan/Chase, USAA, Wells Fargo, First Citizens Bank and Luxury Mortgage Corp. - www.Army.mil 

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(don't celebrate yet) RUMOR: Rapid Refinance Loan Modification Plan to be Introduced in Congress - by Adam Quinones - As many as 30 million U.S. homeowners would be able to refinance their mortgage at record low interest rates regardless of their income, credit history or loan-to-value ratio under a plan to be unveiled on Tuesday by a Democratic lawmaker. - Mortgage News Daily

(on FN 3.5s and buydown comparisons)  Phantom MBS Coupon Makes Appearance. Mortgage Rates Slow to React - by Adam Quinones - Mortgage News Daily 
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(Fla.) Supreme Court will not stop foreclosures by law firms under investigation - By Diane C. Lade -  The state Supreme Court has declined a Florida congressman's request to halt all foreclosures being handled by several South Florida law firms under investigation by the attorney general for allegedly improper documentation procedures in thousands of cases, saying the high court has no jurisdiction. - Sun Sentinel