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  • Wells Fargo reaches $110 million class action settlement over fake accounts

    The fallout from Wells Fargo's fake account fiasco is far from over, as the bank announced late Tuesday that it reached a $110 million settlement in a class action lawsuit brought on behalf of the bank’s customers who had a fake account opened in their name. Click the headline to read more about the settlement.

Real Estate The Ticker

Is the shadow inventory threat overstated?

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According to The Wall Street, media outlets are continuously reporting that a large shadow inventory of potential foreclosures remains a threat to the housing market. But the paper says:

There’s just one problem: the data doesn’t show it.

For the past three years, a number of housing pundits have issued ominous warnings about the millions of underwater mortgages, modified mortgages, and delinquent mortgages that threatened to drag down the housing market. But efforts to modify and refinance mortgages—together with surprisingly strong demand from investors for distressed properties—have whittled down this shadow supply.

Source: WSJ
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