Helping borrowers who don’t deserve it - How much is enough? - BY JACK GUTTENTAG - I don’t ordinarily like to publish long letters, but this one is worth the space because it captures the mood of a sizable segment of the population: … - Inman News

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How to Rebuild US Home Prices and Fix the Economy - Ross DeVol and Michael Klowden -  FT.com -  editorial at Milken Institute

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IAS Sees ‘Normalization’ in House Prices - By KELLY CURRAN - US home prices remain down 13% year-over-year as of April, but the pace of decline in prices seems to have leveled off, according to IAS360 data released Tuesday morning.  “It’s too soon to call this a turn in the housing market, particularly given all the political and regulatory uncertainties,” said Dave McCarthy, president and CEO of Integrated Asset Services. “I think that we’re still in for some difficult spells ahead, but we are seeing a certain kind of pricing equilibrium in several important markets. That’s encouraging for the long term. - housingwire 

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1.  May U.S. foreclosures third highest on record - By Lynn Adler - … Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month on record.  “There were almost one million foreclosure filings in a three-month period, and that’s simply unprecedented,” Rick Sharga, senior vice president at RealtyTrac in Irvine, California, said in an interview … - Reuters

2.  Mortgage delinquencies may have peaked: Equifax - Nick Zieminski - U.S. consumers fell further behind on their debts last month, and consumer bankruptcies continue to increase at a double-digit rate, but the rate of mortgage and credit card delinquencies may have peaked, a top credit bureau executive told Reuters on Thursday. … “The next three months should determine if we’ve really flattened out,” Adams said, adding that a key factor would be the depth of job losses. … - Reuters