CoreLogic: Shadow Inventory Shrinks 12% from Year Ago in October

“As of October 2012, 2.3 million housing units still remain in shadow inventory, CoreLogic reported Wednesday. The total translates into a supply of 7 months and sits 12.3 percent lower than the 2.6 million units in October 2011, according to the data provider. From September 2012, shadow inventory shrunk by about 1 percent. In dollar …

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New short-sale program offers relief for underwater homeowners

One of the federal government’s most-important financial relief efforts for underwater homeowners started operating Nov. 1.  Traditionally short sales, where the lender agrees to accept less than the full amount owed and the house is sold to a new purchaser at a discounted price, are associated with extended periods of delinquency by the original owner. …

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New REO Inventory in 2011

RealtyTrac’s year-end report released Thursday shows foreclosure filings – including default, auction, and bank repossession notices – were reported on 1,887,777 U.S. properties in 2011. Of that total, 804,423 homes were taken back by lenders as REO. Last year’s tally of nearly 1.9 million properties with a foreclosure filing seems staggering, but it’s actually the …

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Senators Want Answers on Bonuses

Lawmakers Want Answers on Bonuses to GSE Execs Lawmakers on Capitol Hill are up in arms over the news that the Federal Housing Finance Agency (FHFA) approved $12.79 million in bonus pay for 10 executives at Fannie Mae and Freddie Mac. Sixty senators put their partisan differences aside and presented a united front in a …

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