Posts Tagged ‘United States’

Consumer bureau to unveil monthly mortgage statement prototype

The Los Angeles Times

The Consumer Financial Protection Bureau this week will unveil a prototype for a new monthly mortgage statement for consumers designed to clearly show important information from their servicer.

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http://www.latimes.com/business/money/la-fi-mo-mortgage-statement-20120213,0,5870776.story

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Tip of the Week: Consumer Protection Working Group launched to Combat Consumer Fraud

The Consumer Protection Working Group, formed under President Barack Obama’s Financial Fraud Enforcement Task Force (FFETF), recently convened its first meeting to address consumer fraud, which can financially cripple households and can cause extensive losses to the economy.
The newly created group will work across federal law enforcement and regulatory agencies, and with state and local partners, to strengthen efforts to address consumer-related fraud, including schemes targeting vulnerable populations, such as the unemployed, those in need of payday loans, and those suffering from the burden of high credit card and other debt. The new working group will also focus on scams that exploit prospective students, active-duty military personnel and veterans.
More info

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The “new American home” continues shrinking

The Wall Street Journal

The nation’s average home size, which peaked at 2,500 square feet in 2007, is expected to shrink to 2,152 square feet by 2015, according to the National Association of Home Builders.

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http://blogs.wsj.com/developments/2012/01/18/the-new-american-home-continues-shrinking/

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Home seizures may jump 25 percent this year

The San Francisco Chronicle

Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac said.

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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/12/BUPF1MOFAU.DTL

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Low mortgage rates likely to continue through 2012, experts say

Los Angeles Times

The mortgage market told a sad story throughout 2011: Record low rates, but few people taking advantage of them to buy homes.  The likely scenario in the new year, according to many analysts, is more of the same.
Read the full story:
http://www.latimes.com/business/la-fi-mortgage-rates-20120103,0,2240865.story

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