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A popular theme in the responses we have received to our request for feedback from the foreclosure front has been the confusion , delays, and inflexibility on the part of mortgage servicers in handling " short sales ." Short sales are requests to discharge mortgages when a third party is willing to purchase...
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The six big agencies that regulate most of the nation's banking system issued "guidance" Tuesday encouraging mortgage servicers to work with borrowers to mitigate loan losses and keep families in their homes where "possible and appropriate." The Federal Deposit Insurance Corporation, Board of Governors...