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Housing

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Chicago Tribune

No drugs. No guns. No dogfighting. The 40 officers on the scene — from the Chicago Police Department Animal Crimes Unit, two SWAT teams and the Cook County Sheriff's Department — left. The raid was over. For the Harris family, however, the s

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NY Times

Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses among the law firms it had hired to remove troubled borrowers from their homes. But the company did little to correct the firms’ practices, according to

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LewRockwell.com

“But there’s no law that says that real estate has to stick to its trend-line. Or more specifically, that it just goes back to the trend-line and stops there. If it can go way over trend, it can also go way under trend. And that’s what I think we’re

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Reuters

The talks aim to settle allegations that banks including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, seized the homes of delinquent borrowers and broke state laws by employing so-called "robosigners," workers who signe

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Market-ticker.org

Indeed it is a disaster. Oh, and who holds those RMBS? Pension funds of various sorts, including traditional pension holders and insurance companies that use them as the base for annuities, in the main, as their relatively long duration...

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ZeroHedge.com

So to sum up: first the taxpayers were asked to save Freddie and Fannie, then they were asked to save the banks, now when it is politically expedient to do so, the first entity which is still being saved is suing the second...

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NY Times

The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the