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Home | News | Loss Mitigation

Firm to Sell $2.3 Billion in Nonperforming Loans for HUD

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Online marketplace exchange DebtX has announced its intention to sell 15,000 nonperforming residential loans for the U.S. Department of Housing and Urban Development (HUD) as part of the agency's Single-Family Loan Sale (SFLS) program. The unpaid principal balance of the loans amounts to about $2.3 billion. The bid is scheduled for September 30. The loans will be sold in eight national pools ranging from $94.5 million to $804.5 million.

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Michigan-Based Bank Discussing Settlement With CFPB

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Flagstar Bancorp, Inc. announced earlier this week that it has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) in order to notify its investors that the bank is currently trying to work out a settlement with the Consumer Financial Protection Bureau (CFPB) regarding alleged violations of financial laws.

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Realtor.com Still Sluggish Amidst DDoS Attack

Move, Inc., reported that it is continuing to combat the distributed denial of service (DDoS) attack which has interrupted its websites' operations since mid-day June 17. The company said in a release that they are "working around-the-clock" to mitigate the attack and restore operations.

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