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Government programs

Investor Money Goes Down the Rabbit Hole with Foreclosure Freezes

In last two weeks, three of the nation's largest mortgage loan servicers called an emergency halt to foreclosures because employees in their servicing shops were submitting foreclosures to the courts without reading the foreclosure documents, and without properly notarized signatures attesting that the documents have been read.

A Deal Too Good To Be True

People often write to me seeking advice. These generally aren't "Dear Abby" types of requests. Rather, they have questions about the mortgage industry-the status of the housing market and home prices, job openings, advice about their home loans, you name it.

The Irony of Credit Reporting

In today's New York Times, there is a lengthy piece by Peter S. Goodman about the failures of the Obama administration's Making Home Affordable program. 

Bailing Out Banks

Just a year ago, the market was completely upside-down, with everyone watching big banks line up for bailout money from the US government.  Now, in a surprising turn of events, banks that have made it through in relatively stable shape are lining up to lend the FDIC money to cover its guaranty obligations. 

Drawing a Line on Loan Modifications

I've heard a lot of talk about how modifications are so innocuous that nobody wants them.

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