Senate approves short sale tax break

Senate approves short sale tax break

Allows tax relief on 2014 short sales

Senate fails to pass Terrorism Risk Insurance Act

Housing groups "extremely disappointed" in "alarming failure"

Another regulator investigates Ocwen Financial

Ocwen’s terrible, horrible, no good, very bad year just got worse
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The Ticker

Yellen talks interest rates and oil prices

Fed Chair comments on FOMC announcement
Brena Swanson
Federal Reserve Chair Janet Yellen commented on two hot topics in the market right now: interest rates and oil prices. And her answers might surprise you.
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Bank of America, U.S. Bancorp face another MBS suit

NCUA files lawsuit against two large banks
Brena Swanson
Some of the country's biggest banks are facing another mortgage-related lawsuit. This time the National Credit Union Administration Board is filing the suit, claiming that both Bank of America and U.S. Bancorp failed to review mortgage loan files for irregularities.
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HOPE NOW: 39,000 homeowners saved from foreclosure

Continues steady pace of mortgage solutions
Brena Swanson
Servicers maintained a steady pace of loan modification for homeowners in October, with the number of solutions outpacing foreclosure sales.
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Michigan to get $75 million more to fight blight

$47.4 million earmarked for Detroit
Ben Lane
The fight against residential blight isn't over in Michigan. The state is about to get an injection of federal funding to continue its efforts to clean up the neighborhoods that were the hardest hit by the economic downturn.
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North Miami mayor found guilty of mortgage fraud

Marie Lucie Tondreau now faces up to 30 years in prison
Ben Lane
Marie Lucie Tondreau, the mayor of North Miami, Florida, was found guilty of mortgage fraud, stemming from her part in a scheme that defrauded lenders to the tune of $8 million. Prosecutors said she used her fame to recruit straw buyers.
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Large banks lower lending standards to pre-crisis levels

Underwriting standards start to weaken
Brena Swanson
A new survey shows that the days of risky mortgage lending may be back, citing concerns that big lenders are lowering their standards on some of the riskiest lending.
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Open Mortgage acquires reverse origination arm from 360 Mortgage Group

360 Mortgage winds down reverse mortgage originations
Brena Swanson
After entering the business earlier this year, 360 Mortgage Group reached an agreement with Open Mortgage to sell its reverse origination arm.
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Americans are 40% poorer than before the recession

This is your “recovery”
Trey Garrison
If it seems like for all the talk of recovery, job gains and such feel a bit empty, there’s a reason.
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FDIC, other federal buildings lose power

Outage only lasts a few minutes
Brena Swanson
The power has been restored to several federal buildings in Washington, D.C., including the Federal Reserve and Federal Deposit Insurance Corporation, after a transformer explosion at the Office of Personnel Management Monday morning.
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Equifax: Seriously delinquent mortgages hit new low

More than 29.8% year-over-year decrease
Brena Swanson
The latest housing data from Equifax showed improving credit numbers across the board, particularly in delinquent mortgages and home equity lines of credit.
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