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Fannie Mae and Freddie Mac to Streamline Short Sales to Help Borrowers and Communities – Federal Housing Finance Agency
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(2 page pdf) CFPB Proposes New Rules for Mortgage Servicing Industry – by King & Spalding – JD Supra
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Bernanke On Why Subprime Turned Out Worse Than The Dot-Com Bubble – Steve Schaefer, Forbes – … but renewed his arguments that the chief cause for the extent of the crisis was not the meltdown in the subprime mortgage market, but a financial system rife with vulnerabilities including, but not limited to, insufficient regulatory authority and failure to exercise the authority that was available. …
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(real unemployment numbers) 88 Million (That’s One In Three Americans) Are Invisible to Government Employment Statistics - Mac Slavo – shtfplan.com
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(charts too) Median age for first marriage spikes to record, holding back family formation – Sober Look Blog – Given that household formation is such a critical driver of the housing market it is worth revisiting the subject by looking at some additional data. Here is what we’ve discussed so far: …
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(praise for Bernanke from the political left) The Federal Reserve Turns Left – William Greider – The Nation
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(moral hazard the greater risk?) For Fannie, Freddie, savings bring risk of loss - A plan to reduce principal for underwater homeowners could aid the agencies, but may encourage others to fall behind on mortgages. – By Jim Puzzanghera, Los Angeles Times – Cape Cod Times
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Bank of America’s payoff to Florida homeowners draws 678 short sales – By KIMBERLY MILLER – Palm Beach Post – … Bank of America’s payoff to Florida homeowners who do a short sale instead of dragging out a foreclosure has averaged $12,000 per deal and helped close 678 contracts statewide since it debuted in October. The Florida-only plan originally targeted 20,000 homeowners with incentives of between $5,000 and $20,000 to forgo the more than two-year foreclosure process and leave their home in "broom swept" condition for a new owner. …
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(chart too) RealtyTrac Reports Foreclosure Filings Down Again – by Mike Wheatley – … Non-Judicial Foreclosure States Keep Figures Down - … one of the biggest factors for the continuing decline in foreclosure filings was the decreasing activity in states that use a non-judicial foreclosure process, which accounted for 329,854 foreclosed homes. Twenty of these twenty-four states registered year-on-year decreases … – Realty Biz News
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Bank Of America To Sell Off Hundreds Of Foreclosed Homes In Second Bulk Offering – By Matthew Goldstein and Jennifer Ablan – Reuters - For the second time in five months, Bank of America is tapping the red-hot market for foreclosed homes by seeking bids on a bulk offering … has solicited bids for a bulk deal that includes up to 500 largely vacant single-family homes … One mortgage investor, who did not want to be identified, said it appears that Bank of America is moving to hold regular bulk sales of foreclosed homes as a way to reduce its inventory … – Huffington Post
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(again Barney says) Barney Frank: Don’t Blame Me For GSE Mess – by MortgageOrb.com
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