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Banking News – Daily Banking Update
Welcome to Banking Update, a roundup of articles and news from around the Internet. The government keeps trying new foreclosure programs despite the failure of previous ones, homeowners past due by...
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Housing Prices Have Crashed So Much You Can Buy One With A Credit Card
Home prices continue to plunge in value. According to the latest statistics from S&P/Case-Shiller, prices declined by over 1% in October. The crash in housing prices has now brought prices back...
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Banking News – Daily Banking Update
Welcome to Banking Update, a roundup of articles and news from around the Internet. Banks continue to be sued for selling defective mortgages, the Fed says a housing recovery is essential for economic...
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Banking News – Daily Banking Update
Welcome to Banking Update, a roundup of articles and news from around the internet. The Federal Reserve’s political moves threaten its independence, loan modification companies prey on vulnerable...
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Total 2011 Foreclosure Filings Reach 2.7 Million – Expect 2012 To Be Worse
Fed Chairman Ben Bernanke must be talking to himself by now. Despite driving interest rates to zero and the expenditure of trillions of dollars to prop up the housing market, home prices declined...
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Foreclosure Inventory Near Record Highs, Attempts To Slow Foreclosures Is...
LPS Mortgage Monitor has come out with a comprehensive series of charts including the current level of foreclosures, delinquencies by year of origination, length of time homeowners have not made a...
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Interest Rates At All Time Lows And Home Prices At Ten Year Lows – Why Are...
In Federal Reserve Chairman Ben Bernanke’s world, all he had to do was lower interest rates enough and housing prices would magically re-inflate. Wrong! Mortgage rates are at all time lows, home...
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Congress Moves To Prevent FHA Collapse With “FHA Emergency Solvency Act”
The latest FHA Single-Family Outlook report from the FHA shows that serious delinquencies continue to plague the FHA. The number of seriously delinquent FHA loans increased by 18.9% from last year to a...
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Connecticut Home Values Plunge As Banks Cut Jobs And Bonuses
Banking industry woes are translating into major price declines for high end residential real estate in Connecticut. For those who believe that real estate prices has bottomed out, please consider...
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FHA Loans Immediately Put Borrowers Into A Negative Equity Position
In a speech given at the Brookings Institution, Brian Moynihan, CEO at Bank of America, said “We need to look hard at some of the old assumptions and ask the question is homeownership the right...
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Fannie Mae Stock Soars As Mortgage Delinquencies Decline
Fannie Mae’s recently released Monthly Summary reports that serious loan delinquencies decreased slightly in January. A single family home mortgage loan classified as “seriously delinquent” is three...
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Mortgage Default Rates Soar for Senior Citizens as Feds Loosen Mortgage Rules...
The Consumer Financial Protection Bureau (CFPB) is concerned about the rapidly increasing default rate on mortgages held by senior citizens. A study done by the CFPB shows that the number of senior...
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