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  • Thu, May 31 2012
  • 8:41 PM » David J. Cross: Hispanic Home Buyers Becoming a Force in Real Estate
    Published Thu, May 31 2012 8:41 PM by The Huffington Post
    "This population has been underserved. The American dream is still very vibrant in the Hispanic heart." Read more: Housing Market , Hispanics , Movoto , Real Estate , Hispanic Homeowners , Latino Home Buyers , Money News
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 8:41 PM » It's a Record! U.S. Treasuries Hit a 220-Year Low
    Published Thu, May 31 2012 8:41 PM by The Atlantic
    One of these days, the bond vigilantes will show up. Today was not that day though. Tomorrow's not
  • 8:39 PM » Geithner Hears Spain's Plans to Strengthen Financial Sector
    Published Thu, May 31 2012 8:39 PM by Bloomberg
    Geithner Hears Spain's Plans to Strengthen Financial Sector Bloomberg US Treasury Secretary Timothy F. Geithner and Spain's deputy prime minister, Soraya Saenz de Santamaria, met today to discuss Spain's plans to bolster its banking system. The two officials discussed "the significant progress that Spain has made on ...
  • 5:16 PM » ResCap Unsecured Creditors May Fight Quick Sale, Lawyer Says
    Published Thu, May 31 2012 5:16 PM by Bloomberg
    ResCap Unsecured Creditors May Fight Quick Sale, Lawyer Says Bloomberg Residential Capital LLC's unsecured creditors may oppose plans by the bankrupt mortgage company to quickly sell most of its assets to Fortress Investment Group LLC (FIG), a lawyer for the creditors said in court. The official committee of unsecured ...
  • 5:08 PM » FHA Foreclosures Jump 73 Percent in April - Bloomberg
    Published Thu, May 31 2012 5:08 PM by Bloomberg
    FHA Foreclosures Jump 73 Percent in April Bloomberg Foreclosure starts on loans backed by the Federal Housing Administration rose 73 percent between March and April, driven by defaults on mortgages issued in 2008 and 2009, according to a report today by mortgage data provider Lender Processing Services. and more »
  • 4:44 PM » Huge Spike in Foreclosures With Loans Backed by US
    Published Thu, May 31 2012 4:44 PM by CNBC
    Huge Spike in Foreclosures With Loans Backed by US<br/>http://www.cnbc.com//id/47634203
  • 4:09 PM » FHFA Announces Appointment to Coordinate the Strategic Plan for Fannie Mae and Freddie Mac Conservatorships
    Published Thu, May 31 2012 4:09 PM by FHFA
    May 31, 2012: FHFA Announces Appointment to Coordinate the Strategic Plan for Fannie Mae and Freddie Mac Conservatorships
  • 3:41 PM » PIMCO's Gross warns of economic "breaking point"
    Published Thu, May 31 2012 3:41 PM by Reuters
    NEW YORK (Reuters) - The debt crisis and central bank policy responses have degraded the quality and value of debt markets and signal a "potential breaking point" in the global economy, PIMCO's Bill Gross, manager of the world's largest bond fund, said in his monthly letter to investors.
  • 3:15 PM » Wells Fargo Lending Discrimination Case Seen Possible by US
    Published Thu, May 31 2012 3:15 PM by Bloomberg
    Wells Fargo Lending Discrimination Case Seen Possible by US Bloomberg The Justice Department has "sufficient basis" to file a lending discrimination complaint against Wells Fargo & Co., the largest US mortgage lender, said Assistant Attorney General Thomas Perez in a conference call with reporters today.
  • 3:13 PM » CRL: FDIC Promises Investigation of Bank Payday Lending
    Published Thu, May 31 2012 3:13 PM by CRL
    The FDIC has promised that to make investigation of bank payday lending a priority investigation. In response to a letter submitted by 250 advocates, Acting Chairman Martin Gruenberg said the banking regulator is concerned that banks are violating guidelines for fair and affordable products.
  • 3:10 PM » Justice Department Reaches $21 Million Settlement to Resolve Allegations of Lending Discrimination by Suntrust Mortgage
    Published Thu, May 31 2012 3:10 PM by www.justice.gov
    SunTrust Mortgage Inc., the mortgage lending subsidiary of the nation's 11th-largest commercial bank, has agreed to pay $21 million to resolve a lawsuit by the Department of Justice that it engaged in a pattern or practice of discrimination that increased loan prices for many of the qualified African-American and Hispanic borrowers who obtained loans between 2005 and 2009 through SunTrust Mortgage's regional retail offices and national network of mortgage brokers.
    Click Here to Read the Full Article

    Source: www.justice.gov
  • 2:47 PM » Assistant Attorney General for the Civil Rights Division Thomas E. Perez Speaks on the Fair Lending Settlement with SunTrust Mortgage Inc.
    Published Thu, May 31 2012 2:47 PM by www.justice.gov
    "Today's settlement with SunTrust builds on an unprecedented period of fair lending enforcement by the department. Since the establishment of the Fair lending Unit, thanks to the committed career professionals in the Division, we have brought record numbers of enforcement actions," said Assistant Attorney General Perez.
    Click Here to Read the Full Article

    Source: www.justice.gov
  • 2:02 PM » S&P Housing Views: Consumers' Financial Condition
    Published Thu, May 31 2012 2:02 PM by S&P/Case Shiller
    Reports today from the New York Federal Reserve and RealtyTrac shed some new light on consumers’ financial conditions and mortgages. Improvements continue for consumers in the mortgage market; the one weak spot in the NY Fed report was student loans. The NY Fed reports that some 291,000 individuals had foreclosure notations on their credit reports [...]
    Click Here to Read the Full Article

    Source: S&P/Case Shiller
  • 2:01 PM » Study: Buying a house makes people less entrepreneurial
    Published Thu, May 31 2012 2:01 PM by Washington Post
    The recent bust was a rude awakening about the downsides of owning a home. Researchers have uncovered yet another potential drawback: Purchasing a home makes people 20 to 25 percent less likely to start their own business. A new paper from the UK's Spatial Economics Research Centre explains: Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 2:00 PM » Abacus Federal Savings Bank indicted for mortgage fraud
    Published Thu, May 31 2012 2:00 PM by Reuters
    NEW YORK (Reuters) - Abacus Federal Savings Bank, which caters to Chinese immigrants in New York and other communities, has been charged with selling hundreds of millions of dollars worth of fraudulent mortgages to Fannie Mae.
  • 1:41 PM » Federal government unloads real estate
    Published Thu, May 31 2012 1:41 PM by CNN
    The federal government, the nation's top property owner, said Thursday that it is on track to save $8 billion by the end of the fiscal year by consolidating its real estate holdings and selling off the excess.
  • 1:40 PM » Lacker Says Rising Federal Debt Poses Challenge for Fed
    Published Thu, May 31 2012 1:40 PM by Bloomberg
    Lacker Says Rising Federal Debt Poses Challenge for Fed Bloomberg Federal Reserve Bank of Richmond President Jeffrey Lacker said a projected increase in US government debt during the next decade would complicate policy makers' efforts to hold inflation within their 2 percent goal. "Those projections are alarming, ... and more »
  • 1:09 PM » Bloomberg TV: SIFMA EVP Ken Bentsen on the Volcker Rule and Getting It Right
    Published Thu, May 31 2012 1:09 PM by Bloomberg
    Bloomberg TV: SIFMA EVP Ken Bentsen on the Volcker Rule and Getting It Right<br/>http://www.bloomberg.com/video/93731461-bentsen-says-regulators-shouldn-t-rush-volcker-rule.html
  • 12:08 PM » Obama Administration Hogs Housing Credit
    Published Thu, May 31 2012 12:08 PM by The Huffington Post
    WASHINGTON -- The Obama administration wants all the credit for a drop in Nevada foreclosure filings even though housing analysts have attributed some... Read more: Obama Foreclosure , Department of Housing and Urband Development , Obama Administration , Foreclosure , Nevada Foreclosure , Shaun Donovan , Negative Equity , Politics News
    Click Here to Read the Full Article

    Source: The Huffington Post
  • 12:02 PM » Whistle Blower on Bad Mortgages at Citigroup Wins $31 Million
    Published Thu, May 31 2012 12:02 PM by The Big Picture
    Source: Woman Who Couldn't Be Intimidated by Citigroup Wins $31 Million Bob Ivry Bloomberg Markets Magazine, May 31, 2012 12:01 AM ET http://www.bloomberg.com/news/2012-05-31/woman-who-couldn-t-be-intimidated-by-citigroup-wins-31-million.html
    Click Here to Read the Full Article

    Source: The Big Picture
  • 11:57 AM » Bankers Nationwide Fight Lending Protections in California
    Published Thu, May 31 2012 11:57 AM by CRL
    California homeowners need common-sense protections during the foreclosure process. The Legislature should resist industry pressure and approve the Homeowner Bill of Rights.
  • 11:22 AM » Fed Says Household Debt Fell 0.9% During First Quarter
    Published Thu, May 31 2012 11:22 AM by Bloomberg
    Fed Says Household Debt Fell 0.9% During First Quarter Bloomberg Household debt in the US fell 0.9 percent during the first quarter as a decline in real-estate borrowing outpaced an increase in student loans, according to a Federal Reserve Bank of New York survey. Consumer indebtedness shrank by $100 billion from ...
  • 10:38 AM » [The BBQ Interview] Rick Sharga of Carrington Mortgage Holdings â€" “Why is REO Volume Down?”
    Published Thu, May 31 2012 10:38 AM by Google News
    I was looking for guidance/insight on the issue of future REO volume because I had anticipated a faster pickup in REO volume once the state AG agreement was signed with the major servicers (ie being held back after robo signing... Read More
  • 10:34 AM » Yeah! The Housing Bottom Is Here! (PWBC™)
    Published Thu, May 31 2012 10:34 AM by The Big Picture
    Ever since the data made it obvious — at least to us — that Housing was topping out in 2006, we have watched with various degrees of bemusement the annual ritual that is the erroneous housing bottom call. Many casual observers of Housing (along with a few pros) fail to understand the difference between monthly [...]
    Click Here to Read the Full Article

    Source: The Big Picture
  • 10:24 AM » Flood Insurance Program Gets Another Two Months
    Published Thu, May 31 2012 10:24 AM by WSJ
    Lawmakers on Capitol Hill moved to keep the federal government's flood-insurance program running for another two months, giving Congress more time to finish a long-term overhaul that aims to shore up the program's finances.
  • 10:24 AM » A Tale of Two Markets: Mega Homes Surge
    Published Thu, May 31 2012 10:24 AM by CNBC
    From $16 million log mansions in Aspen to $90 million Manhattan penthouses, high-end real estate is defying the broader real-estate slump.
  • 9:50 AM » DataQuick: April Portland Home Sale Press Release
    Published Thu, May 31 2012 9:50 AM by DataQuick
    Portland Region April Home Sales Portland-area home sales rose year-over-year for the 10th consecutive month in April as the portion of sales to investors and other absentee buyers hit a new high. The median sale price inched up from a year earlier for the second month in a row as distressed property sales held at about 40 percent of the resale market, a real estate information service reported. A total of 2,489 new and resale houses and condos closed escrow during April in the five-county Portland-Vancouver-Beaverton metro area. Sales rose 4.5 percent from the prior month and rose 8.4 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. A sales gain between March and April is normal for the season, with the increase averaging 2.4 percent since 1994, when DataQuick's complete Portland-area statistics begin. This April's sales were still low in a historical context, falling 30.6 percent short of the average sales tally for all months of April since 1994. The median price paid for all new and resale houses and condos that closed escrow in the Portland region during April was $215,000, up 2.4 percent from the prior month and up 1.4 percent from a year earlier. It was the median's third consecutive month-to-month gain and the second consecutive year-over-year increase. April's $215,000 median was the highest for any month since last November, when the median was $218,500. April's median was 25.6 percent lower than the peak $289,000 median in October 2007, and it was 10.3 percent higher than the post-peak trough of $195,000 in January this year. Another price measure analysts track, the median paid per square foot for resale single-family detached houses, rose to $130 in April. That was up 3.2 percent month-to-month and it was the same as a year earlier, marking the first time in 21 months that the median price paid per square foot didn't drop on a year-over...
  • 9:46 AM » Gross Says Quality of Sovereign Debt Threatens Monetary System
    Published Thu, May 31 2012 9:46 AM by Bloomberg
    Gross Says Quality of Sovereign Debt Threatens Monetary System Bloomberg Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., said the lower quality of sovereign debt represents a threat to the global monetary system. Investors should favor debt of nations such as the US, ...
  • 9:44 AM » FDIC Issues Third Quarter 2012 CRA Examination Schedule
    Published Thu, May 31 2012 9:44 AM by content.govdelivery.com
    Press Release FDIC Issues Third Quarter 2012 CRA Examination Schedule FOR IMMEDIATE RELEASE May 31, 2012 Media Contact: Greg Hernandez (202) 898-6984 Cell: (202) 340-4922 Email: ghernandez@fdic.gov   The Federal Deposit Insurance Corporation (FDIC) has issued the public list of institutions that it has scheduled for a Community Reinvestment Act (CRA) examination during the third quarter of 2012. This list is published pursuant to revised CRA regulations published in May 1995 that require each federal bank and thrift regulator to publish a quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The examination schedule reflects the effects of an institution's size and CRA rating on examination frequency. Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of Satisfactory can be subject to a CRA examination no more frequently than once every 48 months. Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of Outstanding can be subject to a CRA examination no more frequently than once every 60 months. The schedule of institutions to be examined July 1, 2012, through September 30, 2012, is based on the best information now available. Examination schedules may change. For example, a regulated financial institution not otherwise scheduled for an examination may be examined in connection with the application for a deposit facility. Alternatively, some institutions may require more time and resources than originally allotted, thus delaying other scheduled examinations. If an institution is rescheduled for a different quarter, that information will be included on a later list. The regulators encourage public comment on the institutions to be examined under the CRA. Comments about FDIC-supervised institutions should be directed to the institutions themselves or to the Deputy Regional Director of the appropriate FDIC regional office (a list of those locations...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
  • 8:05 AM » US Planned Layoffs Jump 53%: Challenger Report
    Published Thu, May 31 2012 8:05 AM by CNBC
    Job cuts jumped by 53 percent in May from April, with Hewlett-Packard's layoffs propelling the computer industry to the top spot among the biggest job cutters this year, a report by consultancy firm Challenger, Gray & Christmas showed.
  • 8:02 AM » Short Sales of US Homes on Track to Exceed Foreclosure Deals - Bloomberg
    Published Thu, May 31 2012 8:02 AM by Bloomberg
    Short Sales of US Homes on Track to Exceed Foreclosure Deals Bloomberg Short sales of US homes rose to a three-year high in the first quarter as banks agreed to let more borrowers unload property at a loss, putting the transactions on pace to surpass deals for foreclosures, RealtyTrac Inc. said.
  • 7:58 AM » US Sales of Bank-Owned Homes Fell in First Quarter
    Published Thu, May 31 2012 7:58 AM by CNBC
    US Sales of Bank-Owned Homes Fell in First Quarter<br/>http://www.cnbc.com//id/47624924
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