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2010-03-11 18:18

Slideshow: Slideshow: Mystery of a reclusive heiress

Why are the mansions of one of America’s richest women sitting vacant? Click to follow this photo narrative of the reclusive Huguette Clark and her father, William Andrews Clark, the "Paris millionaire senator." Where is Huguette Clark? And what will become of her fortune?Why are the mansions of one of America’s richest women sitting vacant? Click to follow this photo narrative of the reclusive Huguette Clark and her father, William Andrews Clark, the “Paris millionaire senator.” Where is Huguette Clark? And what will become of her fortune?





United States - Wealth - Narrative - Government - Politics

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2010-03-11 18:18

Survey: Pace of foreclosures may be slowing

A foreclosure home for sale is shown in this Aug. 22, 2006 file photo taken in Spring, Texas. RealtyTrac Inc. said Thursday March 11, 2010 that the number of U.S. households facing foreclosure in February grew 6 percent from the year-ago level, the smallest annual increase in four years.RealtyTrac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from the year-ago level, the smallest annual increase in four years.




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2010-03-11 18:18

Foreclosures drop for 2nd month in February: RealtyTrac (Reuters)

In this Feb. 28, 2010 photo, a realtor's sign proclaims a residential home sale in Sudbury, Mass. Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, March 11, 2010, weeks before a government program that has been keeping rates low is scheduled to expire.(AP Photo/Bill Sikes)Reuters - U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.


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2010-03-11 18:18

Foreclosure rates up by smallest amount in 4 years (AP)

A pre-foreclosure sign is displayed outside a home in Miami, Florida in 2009. The US home mortage sector remains under siege -- as recent huge losses reported by government-run Fannie Mae and Freddie Mac show -- from high unemployment and troubled loans.(AFP/Getty Images/File/Joe Raedle)AP - The foreclosure crisis isn’t over, but the pace of growth may finally be slowing down.


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2010-03-11 18:18

Summary Box: Foreclosures grow more slowly (AP)

AP - FORECLOSURES UP: Foreclosure listing service RealtyTrac says the number of households facing foreclosure last month grew 6 percent from a year ago.

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2010-03-11 18:18

Gov’t official warns on home down payment hikes (AP)

AP - The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the housing market.

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2010-03-11 18:18

Fannie Mae to offer $6b in notes (AP)

AP - Fannie Mae on Thursday said it will offer $6 billion of new 3-year notes due May 7, 2013.

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2010-03-11 18:18

Rates Better But Activity Worse

The average 30-year fixed-rate mortgage fell 2 basis points from the prior week in Freddie Mac’s latest Primary Mortgage Market Survey.

Freddie said the average one-year adjustable-rate mortgage improved 5 BPS from a week earlier.

New loan activity was down 3% from last week, with the latest Mortech-MortgageDaily.com Mortgage Market Index declining to 34.00 inquiries-per-user from 35.21 a week earlier.

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2010-03-11 18:18

2006 & 2007 Vintage Drive Jumbo Deterioration

The 60-day delinquency rate on securitized prime jumbo mortgages increased 30 basis points between January and February, Fitch Ratings reported.

Fitch said delinquency on jumbo loans securitized during 2006 and 2007 was three times as bad as the rate on pre-2005 issuances.

Moody’s Investors Service said last month that it downgraded 32 tranches from 2005, 2006 and 2007 residential mortgage-backed securities because of "rapidly deteriorating performance of jumbo pools in conjunction with macroeconomic conditions."

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2010-03-11 18:18

FHA Testimony Addresses LTVs, Suspensions

In testimony before the U.S. House of Representatives, the Mortgage Bankers Association’s president and chief executive officer outlined his group’s position on the Obama Administration’s package of Federal Housing Administration reforms.

He told lawmakers that the administration seeks to give FHA the authority to nationally suspend a lender based of the performance of one of its regional branches.

But he said FHA needs to think twice before making such a move.

He also warned about an across-the-board decrease in FHA loan-to-values.

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