We're starting to hear solid reports that one decent sized warehouse lender is cutting back its commitments to many nonbank customers. We continue to research the story and hope to have an update for you shortly. The lender is a publicly traded depository in Texas. Meanwhile, in an unrelated development, a new report from CoreLogic estimates that short sale fraud is costing the financial services industry roughly $310 million annually with the risk of "unnecessary losses" occurring in one of every 53 short sale transactions. The average amount of unnecessary loss is $41,500 per transaction, CL says.
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