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Fed Survey: Banks Tightened Lending in Q3

The Federal Reserve released its quarterly survey on lending practices yesterday, and it showed that 95 percent of banks have tightened their lending standards on at least some forms of loans. The survey of 55 domestic banks and 21 U.

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Vacant Homes on Market Edge Upward

The number of vacant residential properties for sale inched up to 2.23 million units in the third quarter of 2008 from 2.1 million units in the second quarter, according to a Census Bureau report released last week.

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Fidelity National Introduces Open MLS Platform

Fidelity National Real Estate Solutions, a division of Fidelity National Financial Inc., a Fortune 500 provider of products, services, and technology solutions to the financial and real estate industries, is now offering its MLS customers reInsight Data, a new open architecture data sharing solution, the company announced yesterday.

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Company Calculates Future Value of Today’s REOs

Bankers Real Estate Services (BRES) Advisors Inc., a California analytics and transaction execution company, has introduced an evaluation product to the real estate owned (REO) market that determines the properties’ end game, the company said in a press statement.

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Zillow Survey Shows Half of Homeowners Think Home’s Value Hasn’t Declined

Months of government bailouts and stock market volatility brought Americans’ perception of the values of their own homes closer to reality than it was last quarter, but surprisingly half of U.S. homeowners still believe their home is insulated from the nation’s home value declines, according to the Zillow Q3 Homeowner Confidence Survey.

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Anti-Foreclosure Plan Stalls in White House

The White House has said it is currently reviewing several foreclosure prevention programs, but reportedly has major drawbacks to the national loan modification program that Sheila Bair, chairman of the Federal Deposit Insurance Corporation (FDIC), has submitted.

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Chase Expands Loan Mod Program

Chase, the U.S. consumer and commercial banking arm of JPMorgan Chase & Co., announced on Friday that it is xexpanding its already significant mortgage modification program by undertaking multiple initiatives designed to keep more families in their homes, including extending its modification programs to WaMu and EMC customers,x the bank said in a press statement.

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