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Regulators Want More Loan Mod Data

The Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) are expanding the scope of the mortgage performance data gathered from national banks and thrifts to include additional information on the affordability and sustainability of loan modifications made in 2008.

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President Signs $787B Stimulus

President Barack Obama signed the administration’s sweeping stimulus package into law on Tuesday. It now carries a $787 billion price tag, and is a mix of government spending and tax cuts. The White House estimates the package will save or create 3.

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Obama to Announce Housing Plan on Wednesday

White House officials said that President Barack Obama is scheduled to unveil the administration’s new housing and mortgage relief program on Wednesday during a speech in Phoenix, Arizona, one of the areas hardest hit by the nation’s foreclosure epidemic.

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Lenders One, StreetLinks Partner

St. Louis, Missouri-based Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, has enlisted StreetLinks National Appraisal Services to provide its members with appraisal services and compliance expertise.

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MBS Purchases by Fed Total $115B

The Federal Reserve Bank of New York purchased $23.2 billion in mortgage-backed securities (MBS) for the week ending February 11th. That tally brings total MBS purchases since the government program began in early January to $114.

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FBI: Mortgage Fraud on the Rise

Federal Bureau of Investigations (FBI) Deputy Director John Pistole told a Senate Judiciary Committee on Wednesday that mortgage fraud investigations are intensifying in both volume and scope as the economic crisis worsens.

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Regulator Calls for Foreclosure Suspension, Banks Consent

On Wednesday, the Office of Thrift Supervision (OTS) – the primary regulator of federal savings holding companies and thrifts, including the nation’s largest banks and mortgage lenders – called on the more than 800 OTS-regulated institutions to suspend foreclosures on owner-occupied homes until the Financial Stability Plan’s home loan modification program is finalized.

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