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MBA: Delinquencies Hit Record-Highs

The Mortgage Bankers Association (MBA) released its Mortgage Delinquency Survey for 2008 on Thursday, which showed that Americans fell behind on their mortgages and banks seized homes at a record pace in the fourth quarter of last year.

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Freddie Launches REO Rental Initiative

On Thursday, Freddie Mac announced the official launch of its new REO Rental Initiative, giving qualified tenants and former owners the option to lease their recently foreclosed properties on a month-to-month basis.

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Gov. Launches Securities Loan Facility

As part of the administration’s Financial Stability Plan, on Tuesday, the Department of the Treasury and the Federal Reserve Board announced the launch of the Term Asset-Backed Securities Loan Facility (TALF).

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Zillow Reports Surge in Refi Loan Requests

Amidst the announcement of President Barack Obama’s housing plan, and with mortgage rates reaching historic lows, Seattle-based real estate web site Zillow.com reports record-breaking traffic and loan request activity within its free marketplace for custom mortgage quotes.

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Treasury Releases Loan Mod Details

The Treasury Department released guidelines on Wednesday that will enable servicers to begin modifications of eligible mortgages under the administration’s Homeowner Affordability and Stability Plan – announced by President Barack Obama just two weeks ago.

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Fannie Reports $58B Loss for 2008

Washington, D.C.-based Fannie Mae reported a loss of $58.7 billion, or ($24.04) per diluted share for fiscal year 2008. The GSE’s annual deficit is a significant increase from 2007, when the company reported a loss of $2.

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Citi Reduces Mortgage Payments for Unemployed

Citigroup announced on Tuesday that it is initiating a new mortgage program to help the rising numbers of unemployed Americans hold onto their homes. The initiative is aimed at those homeowners whose economic conditions have changed because of the deteriorating national economy, leaving them unable to meet their mortgage obligations.

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HOPE NOW: 123,000 Modifications in January

HOPE NOW, a foreclosure prevention alliance of mortgage servicers, non-profit counselors, and investors, today announced that its members and the larger mortgage lending industry modified 123,000 mortgages in January 2009.

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