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Redefaults on private modifications cut by more than half – By Jon Prior – Housingwire
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Why Romney Won’t Kill Dodd-Frank – By Phil Mattingly – … Instead, President Romney would likely try to give the financial industry something it wants more: a diluted financial reform law that would relax restrictions on some of its most profitable—and riskiest—investments but maintain enough government oversight to give the banks cover. … – Bloomberg Businessweek
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Is Housing Ripe For A Pullback? – by Street Authority – Seeking Alpha
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(more garbage remains?) Fitch: Refinancing creates cracks in pre-2005 RMBS deals – Posted by kpanchuk – Housingwire
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(lots of research good read) Prepare For The Coming Housing Collapse: Part II – Keith Jurow – Business Insider
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(real estate) A Hot New Investing Trend Among Super Rich Families – Linette Lopez – Business Insider
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The Next (Lack Of) Trading Casualty: Nomura’s Brand New $270 Million Trading Floor – Submitted by Tyler Durden – Zero Hedge
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Bank’s residential loan delinquency rates more than FIVE times historic norms – OC Housing News – … shadow inventory. The too-big-to-fail commercial banks have been endlessly can-kicking to delay what I believe are inevitable write downs. … If lenders continue at that pace, it will take another 16 years for delinquency rates to get back to historic norms. …
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Baby Boomers and Strategic Defaults – a Demographic Study: Why Did People Walk Away? Did They Struggle With Morality? Would they Recommend Walking Away to Others? – Michael Shedlock – Jon Maddux, CEO of You Walk Away, sent me a slide show of their recent Baby Boomer Strategic Default Survey. – MISH’S Global Economic Trend Analysis
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SunTrust Sells 93-Year Coke Stake as Crisis Hangover Ebbs – By Laura Marcinek – … The transaction will boost third-quarter net income by about $750 million, or $1.40 a share, … Proceeds of the sale will help the lender set aside $375 million to fund the repurchase of faulty mortgages and absorb a $250 million pretax charge tied to the writedown of soured loans. … – Bloomberg
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5 Reasons Why You Shouldn’t Buy a House Right Now – By Credit.com – AOL Daily Finance
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(in just one day – no privacy) One Woman’s Data Trail Diary – By SCOTT SHANE – … agreed to try to document her own data trail on one recent day. … – NY Times
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(eminent domain) Underwater mortgage acquisition proposal expands to include delinquent or defaulted homeowners – Joe Nelson – … “I don’t think it changes our approach at all or our views,” said Tim Cameron, a managing director at SIFMA. “Quite frankly, it’s a scheme, and they’re (MRP) looking to benefit short-term opportunistic individuals who have invested money to execute this scheme.” … – The Sun
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ResCap Says PWC Review Could Cost $250 Million, Up From $180 Million – DJ – Residential Capital LLC said it may cost $250 million for PricewaterhouseCoopers LLP to complete a government-mandated review of the mortgage servicer’s home-foreclosure practices. – Fox Business
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Did Hedge Funds Miss Their Opportunity in Mortgages? – Paul Muolo – The answer to that question is “probably not.” As I’ve told many over the past year the entire mortgage industry is up for grabs – National Mortgage News
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How Paul Volcker Misread Fannie Mae – By James R. Hagerty – Adapted from “The Fateful History of Fannie Mae,” by James R. Hagerty, published Sept. 4 by History Press. This is the first of four blog posts related to his book. – WSJ.com
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The Repricing of Oil – Traditional pricing dynamics no longer apply – by Gregor Macdonald – Peak Prosperity
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