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Author Archives: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

Chase and Fed Regulators Receive Threats

Chase Bank and federal banking regulators have fallen victim to what is being investigated as the first public backlash over the country’s financial crisis. Yesterday, more than 30 letters containing a suspicious powder were mailed to Chase bank branches and federal banking offices in nine states, authorities said.

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UPDATE: What About the Bad Mortgages?

Last Tuesday, the government declared that it was going to use a good portion of the $700 billion rescue fund to invest in banks and give them much needed capital to keep on lending. To keep pace with European counterparts who initiated their own recapitalization plans the weekend prior, U.

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Fitch: Home Prices to Drop 10 Percent More

Fitch Ratings said yesterday it expects another 10 percent drop in home prices before we begin to see stabilization in 2010, with the rate of decline slowing in the coming months. To date, national home prices have declined by 22 percent, the ratings agency said in a press statement.

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RE/MAX and REO Maestro Partner to Improve REO Management

RE/MAX International Inc. announced yesterday that it has formed a partnership with REO Maestro, a Colorado company that blends contemporary software development with hands-on REO agent experience. This new partnership will help RE/MAX offices across the country effectively manage foreclosure property listings from referral through closing, the company said in a press statement.

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IMS Launches Notary Service to Expedite Loss Mitigation Process

As the number of defaults and foreclosure filings continue to rise across the country, servicers face pressures from all sides – from within the industry, and now from federal regulators, the general media, and even the judicial system – to finalize workouts at a faster rate.

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Bernanke Pushes for Second Stimulus Plan

Federal Reserve Chairman Ben Bernanke endorsed a second economic stimulus package in his testimony before the House of Representatives’ Budget Committee yesterday. Bernanke said that despite big moves by Congress and federal regulators to prop up the country’s financial system, the economy is likely to be weak for several quarters, and the House should consider adopting a second round of stimulus measures.

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NAR Proposes New Housing Stimulus Plan

The National Association of Realtors (NAR) has put forth a four-point legislative plan to reinvigorate the housing market, calling on Congress to act immediately following the November elections. NAR said it believes the plan will give a much needed boost to the economy and help to calm jittery potential home buyers.

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J.D. Power and Associates Ranks Lender Customer Satisfaction

J.D. Power and Associates released its 2008 Primary Mortgage Origination Satisfaction Ratings today, and according to the marketing information services firm, in the current economic situation, improving the relationship between loan officers and mortgage customers is critical to customer satisfaction.

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