The number of new foreclosures in 2011 dropped nearly 40 percent, according to year-end numbers just released by Lender Processing Services; there is, however, little cause for celebration. . . . → Read More: Robo-Reality: Final Foreclosures Fall as Pipeline Swells
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President Obama announced he was ordering the U.S. Attorney General to create a “Financial Crimes Unit,” its number one task being to go after the banks for faulty mortgage originations and securitizations. . . . → Read More: New Financial Crimes Unit Could Throw Wrench in ‘Robo’ Settlement After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are curr… . . . → Read More: President Obama Proposes Mortgage Refinances for ‘Responsible Borrowers’ If the theme of tonight’s State of the Union address is fairness, then President Obama would be wise to steer clear of housing; most of the proposals to fix the nation’s still struggling real estate market are intrinsically unfair to a large majori… . . . → Read More: State of the Union Preview: Housing and Fairness Don’t Connect The best and most expeditious way to clear the vast inventory of foreclosed properties weighing down today’s housing market is to get more investors in and sell them these properties at bulk discounts. . . . → Read More: Foreclosure Investors are Double-Edged Sword If there is a deal, beyond the politics, it could have a larger effect on the state of the housing market and its recovery. . . . → Read More: ‘Robo’ Foreclosure Settlement Turns Political |
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