Homeowners Say Banks Not Following Rules for Loan Modifications – by Paul Kiel – ProPublica
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FHA lifts 90-day waiting period – Anti-property-flipping measure waived for one year – Starting Feb. 1, housing regulators will suspend for one year a 90-day waiting period on property resales that it says has put FHA borrowers at a disadvantage in bidding on foreclosed properties. – INMAN NEWS
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details why – Why The Administration’s HAMP Anti-Foreclosure Program Will Be A Failure – by Tyler Durden – … Yet a recent analysis by Moody’s senior director Celia Chen demonstrates that out of the 3 to 4 million loans that the administration had hoped would benefit from HAMP, at most 1 million will experience a foreclosure benefit, and more realistically, this number would be a mere 400,000, less than 1% of all U.S. first mortgages … – Zero Hedge
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Souring Mortgages, Weak Market Force FHA to Walk a Tightrope – By NICK TIMIRAOS – good article about Dave Stevens, the challenges at FHA, and how it is being handled. – Wall Street Journal