Foreclosure filings in Massachusetts totaled 2,136 in May, the eighth consecutive month in which they have exceeded 2,000, according to ForeclosuresMass.com, a provider of foreclosure data based in Framingham, Mass.The company said lenders initiated foreclosure proceedings against 23,638 homeowners over the past 12 months, a 74% increase from the 12-month level recorded a year earlier. "May continues to be a record month for foreclosures affecting Massachusetts homeowners, and the trends suggest that we may continue experiencing these [historic] numbers throughout 2007," said Jeremy Shapiro, president and co-founder of ForeclosuresMass.com. The company can be found online at http://www.foreclosuresmass.com.
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Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
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The shift, which is in line with a similar one by other regulators, could be significant for mortgage businesses that work with Fannie Mae and Freddie Mac.
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Jumbo lending helped offset a decline in June's credit numbers, as government-backed programs noticeably contracted, the Mortgage Bankers Association said.
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Colorado homeowners pay the highest premiums at $463 a month, as insurance costs now exceed property taxes in 15 states, LendingTree found.
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CPI inflation remains above the Federal Reserve's 2% target, but the slower rate of increase gives the central bank time to weigh the best course of action.
July 14 -
Michael Burry, a GSE investor and early predictor of the Great Financial Crisis, is eyeing the senior preferred liquidation preference and a 2028 deadline.
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