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The Mortgage Machine Backfires

A ruling last month against the Mortgage Electronic Registration System has significant implications for both the mortgage industry and troubled borrowers. Go to Source





A Reckoning on Option ARMs

Homeowners in the greater New York City region will be less sharply affected by foreclosures from rising monthly payments on adjustable-rate mortgages. Go to Source





California Joblessness Reaches 70-Year High

The unemployment rate in the country’s most populous state underscores how the incipient economic recovery continues to elude millions of Americans seeking work. Go to Source





Housing Agency Reports a Shortfall in Reserves

The Federal Housing Administration said its financial cushion will sink below mandatory levels, but officials said the agency won’t need to be rescued. Go to Source





As an Exotic Mortgage Resets, Payments Skyrocket

Defaults linked to unconventional mortgages are expected to hamper the real estate recovery for years to come. Go to Source





Student Filmmakers, Not Ceasing or Desisting

Three filmmakers are examining a group of Brooklyn homeowners facing foreclosure and the developer of the homes they live in. Go to Source





Judges’ Frustration Grows With Mortgage Servicers

Consumers are succumbing to foreclosure and bankruptcy proceedings as they and frustrated judges wait for responses on loan modifications. Go to Source