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Despite the continued efforts of mortgage giants Fannie Mae and Freddie Mac to find sustainable workouts for delinquent borrowers - and the fact that their loan modification activity has indeed increased significantly this year - the analysts at Standard & Poor's (S&P) expect the GSEs' foreclosure inventories to continue to swell...more |
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The pace of bank closings has returned to the recessionary "norm," following two consecutive weeks where we saw just a single bank failure. That temporary reprieve came to an abrupt halt on Friday, as regulators shut the doors on eight community-based lenders in one fell swoop - four were in California, two in Florida, and one each in Illinois and Virginia. ..more |
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Now that the federal government's homebuyer tax credit stimulus is in the rear view mirror, residential home sales are in a period of correction, according to RE/MAX LLC. ..more |
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The final phase of the landmark federal legislation that placed new restrictions on credit card interest rates and fees takes effect Sunday. Though the bulk of the law's provisions were enacted earlier this year, there are still a few important changes you need to be aware of...more |
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