Mortgages and Housing: Short Sale Streamline, CFPB Proposed Servicer Rules, Bernanke on Subprime, 88 Million Unemployed, Marriage Age Study, Fed Turns Left?, Moral Hazard?, BofA in FLA, FCs Decline Again, BofA FC Bulk Sale

BillCoppedge_26Nov2011original content selection by MortgageNewsClips.com

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Fannie Mae and Freddie Mac to Streamline Short Sales to Help Borrowers and CommunitiesFederal 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 formationSober 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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