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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

Unofficial Problem Bank List at 875 Institutions

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Unofficial Problem Bank List at 875 Institutions

Note: this is an unofficial list of Problem Banks compiled only from public sources. Here is the unofficial problem bank list for Oct 15, 2010. Changes and comments from surferdude808: The Unofficial Problem Bank List shrank this week in both the number of institutions and assets. There were eight removals and six additions leaving...
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RealtyTrac: Record Repossessions reported in September

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RealtyTrac: Record Repossessions reported in September

From RealtyTrac: Foreclosure Activity Increases 4 Percent in Third Quarter Foreclosure filings were reported on 347,420 U.S. properties in September, an increase of nearly 3 percent from the previous month and an increase of 1 percent from September 2009. A record total of 102,134 bank repossessions were reported in September, the first time bank...
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Duy: The Final End of Bretton Woods 2?

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Duy: The Final End of Bretton Woods 2?

Tim Duy is deeply concerned: The Final End of Bretton Woods 2? The inability of global leaders to address global current account imbalances now truly threatens global financial stability. Perhaps this was inevitable – the dollar has not depreciated to a degree commensurate with the financial crisis. Moreover, as the global economy stabilized the...
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IMF: Concern about fragile economy and exchange rates

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IMF: Concern about fragile economy and exchange rates

Via MarketWatch: Summary of IMF meeting communique Global economy: “Economic recovery is proceeding, but remains fragile and uneven across the membership. Faced with this source of potential stress, we underscore our strong commitment to continue working collaboratively to secure strong, sustainable and balanced growth and to refrain from policy actions that would detract from...
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Deloitte Financial names Bandolik director of distressed debt, asset practice

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Deloitte Financial names Bandolik director of distressed debt, asset practice

Steven Bandolik has joined Deloitte Financial Advisory Services as director of the company's distressed debt and asset practice. The company said Bandolik will develop tax, audit, and financial advisory and consulting services nationally. He said the real estate industry needs to return to the basics of managing hard assets and maintaining relationships. "Challenges need...
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Hatzius: Two main economic scenarios “fairly bad” and “very bad”

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Hatzius: Two main economic scenarios “fairly bad” and “very bad”

This all ties together … Neil Irwin at the WaPo has an interesting graphic on the output gap and unemployment: Why it doesn’t feel like a recovery Ezra Klein at the WaPo reports on some comments from Goldman Sachs chief economist Jan Hatzius and professor Paul Krugman at the “America’s Fiscal Choices” conference in...
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Foreclosure robo-signers put homebuyers’ tax credit at risk

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Foreclosure robo-signers put homebuyers’ tax credit at risk

Homebuyers who were set to close on the purchase of a foreclosed home may not qualify now for the homebuyer tax credit after lenders suspended those sales in 23 states, real estate agents tell HousingWire. The closing deadline for the homebuyer tax credit was extended earlier in the year from July 30 to Sept....
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Fannie Mae EarlyCheck looks to reduce future repurchase risk

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Fannie Mae EarlyCheck looks to reduce future repurchase risk

Fannie Mae launched a new product over the weekend that provides automated data checks at every point along the origination application process. EarlyCheck and is another part of the government sponsored enterprise's Loan Quality Initiative, designed to prevent bad loans from being funded and put into the marketplace. Between 2005 and 2007, many of...
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HUD reduces HECM Saver upfront fees to .01% of principal

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HUD reduces HECM Saver upfront fees to .01% of principal

The Department of Housing and Urban Development released more details on its latest reverse mortgage product, HECM Saver, which HousingWire reported in August. HECM Saver will have an upfront MIP of only .01% of the property's value, significantly reducing upfront costs. Under the HECM Standard option, the upfront mortgage insurance premium will remain at...
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Existing Home Inventory increases 1.5% Year-over-Year

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Existing Home Inventory increases 1.5% Year-over-Year

Earlier the NAR released the existing home sales data for August; here are a couple more graphs … The first graph shows the year-over-year (YoY) change in reported existing home inventory and months-of-supply. Inventory is not seasonally adjusted, so it really helps to look at the YoY change. Click on graph for larger image...
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