Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-55317 Thu, 30 Oct 2014 18:55:35 GMT NYDFS Says OCWEN Began Back Dating Docs In 2010 http://implode-explode.com/viewnews/2014-10-30_NYDFSSaysOCWENBeganBackDatingDocsIn2010.html iehi-feed-55306 Wed, 29 Oct 2014 15:22:43 GMT Mortgage Purchase Applications Plunge To 19-Year Lows http://implode-explode.com/viewnews/2014-10-29_MortgagePurchaseApplicationsPlungeTo19YearLows.html iehi-feed-55296 Tue, 28 Oct 2014 20:52:35 GMT Are Deutsche Bank & OCWEN Trying To Steal The Home Of A Military Veteran With Cancer? http://implode-explode.com/viewnews/2014-10-28_AreDeutscheBankOCWENTryingToStealTheHomeOfAMilitaryVeteranWithCa.html iehi-feed-55294 Tue, 28 Oct 2014 19:50:40 GMT It Shouldn't Hurt This Much to Get a Mortgage - Barry Ritholtz http://implode-explode.com/viewnews/2014-10-28_ItShouldntHurtThisMuchtoGetaMortgageBarryRitholtz.html iehi-feed-55292 Tue, 28 Oct 2014 19:49:11 GMT Home Prices in U.S. Show Slower Year-to-Year Increase in August http://implode-explode.com/viewnews/2014-10-28_HomePricesinUSShowSlowerYeartoYearIncreaseinAugust.html iehi-feed-55286 Fri, 24 Oct 2014 20:01:02 GMT No Picket Fence: Younger Adults Opting to Rent http://implode-explode.com/viewnews/2014-10-24_NoPicketFenceYoungerAdultsOptingtoRent.html "They're not going to go from living with their parents to buying a home," said Mark Zandi, chief economist at Moody's Analytics, speaking at a housing conference in Washington. "They're going to rent an apartment."

...

While construction of single-family homes is only halfway back to its prerecession levels, construction of multifamily units -- which include both condos and rentals -- is at its highest level in 25 years. Apartment construction is exceeding its prerecession peaks in some markets, including Austin, Tex.; the Washington metropolitan area; and San Jose, Calif., according to a recent report from the Joint Center for Housing Studies at Harvard.''

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iehi-feed-55285 Fri, 24 Oct 2014 19:57:22 GMT Nevermind: New-Home Sales Staying Sluggish, As Stats Revised http://implode-explode.com/viewnews/2014-10-24_NevermindNewHomeSalesStayingSluggishAsStatsRevised.html iehi-feed-55280 Thu, 23 Oct 2014 20:34:22 GMT SAY WATT? Fannie & Freddie Encourages Sub-Prime Lending | Mandelman Matters http://implode-explode.com/viewnews/2014-10-23_SAYWATTFannieFreddieEncouragesSubPrimeLendingMandelmanMatters.html iehi-feed-55269 Wed, 22 Oct 2014 15:45:42 GMT Top mortgage servicing firm accused of foreclosure abuses http://implode-explode.com/viewnews/2014-10-22_Topmortgageservicingfirmaccusedofforeclosureabuses.html iehi-feed-55264 Wed, 22 Oct 2014 15:33:40 GMT New rules adopted in hopes of spurring home loans (but not for another year) http://implode-explode.com/viewnews/2014-10-22_Newrulesadoptedinhopesofspurringhomeloansbutnotforanotheryear.html iehi-feed-55246 Sun, 19 Oct 2014 18:53:00 GMT Foreclosures Rising 1st Time in 3 Years, Says RealtyTrac - Mandelman http://implode-explode.com/viewnews/2014-10-19_ForeclosuresRising1stTimein3YearsSaysRealtyTracMandelman.html iehi-feed-55233 Thu, 16 Oct 2014 16:03:13 GMT Future SHOCK for Older Homeowners: You Won't Get a HELOC, a Second, or Refi based on your Equity | Mandelman Matters http://implode-explode.com/viewnews/2014-10-16_FutureSHOCKforOlderHomeownersYouWontGetaHELOCaSecondorRefibasedo.html iehi-feed-55231 Thu, 16 Oct 2014 15:52:32 GMT For Bank Of America, Crime Is Now An Ordinary Course Of Business http://implode-explode.com/viewnews/2014-10-16_ForBankOfAmericaCrimeIsNowAnOrdinaryCourseOfBusiness.html iehi-feed-55224 Wed, 15 Oct 2014 18:55:24 GMT Americans face post-foreclosure hell as wages garnished, assets seized http://implode-explode.com/viewnews/2014-10-15_Americansfacepostforeclosurehellaswagesgarnishedassetsseized.html Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their wages and seizing their assets.

... The two big government-controlled housing finance companies, Fannie Mae and Freddie Mac, as well as other mortgage players, are increasingly pressing borrowers to pay whatever they still owe on mortgages they defaulted on years ago.

Using a legal tool known as a "deficiency judgment," lenders can ensure that borrowers are haunted by these zombie-like debts for years, and sometimes decades, to come.

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iehi-feed-55221 Wed, 15 Oct 2014 15:43:25 GMT Bank of America Stock Slides Despite Smaller Than Expected Per-Share Loss http://implode-explode.com/viewnews/2014-10-15_BankofAmericaStockSlidesDespiteSmallerThanExpectedPerShareLoss.html iehi-feed-55211 Tue, 14 Oct 2014 14:28:45 GMT Mass Protest Planned At David Trott's Posh Real Estate Office http://implode-explode.com/viewnews/2014-10-14_MassProtestPlannedAtDavidTrottsPoshRealEstateOffice.html iehi-feed-55190 Fri, 10 Oct 2014 02:02:37 GMT BofA Reportedly Cutting Back 1000 Jobs in Mtg Fulfillment; Adding To Loss Mit http://implode-explode.com/viewnews/2014-10-09_BofAReportedlyCuttingBack1000JobsinMtgFulfillmentAddingToLossMit.html This just in from a reader:

BOA just shut down all fulfillment jobs (over 1000) in Jacksonville FL site and announced a majority of us will be converted to loss mit. As a DE underwriter, I am patiently waiting to see if they pay my salary to be a Hamp Underwriter. This shows the economy is sucking, Hamp was ended 2 years ago, and now it is panic mode at Bank of America.

The economy is still in the toilet, you say? We are shocked... SHOCKED...

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iehi-feed-55182 Wed, 08 Oct 2014 17:04:37 GMT "Schuette On Duty" Is AWOL When It Comes To Foreclosure Fraud http://implode-explode.com/viewnews/2014-10-08_SchuetteOnDutyIsAWOLWhenItComesToForeclosureFraud.html iehi-feed-55181 Wed, 08 Oct 2014 16:26:01 GMT Dear Bloomberg & Financial Advisors: They can't get a HELOC & don't want to sell their homes - Mandelman Matters http://implode-explode.com/viewnews/2014-10-08_DearBloombergFinancialAdvisorsTheycantgetaHELOCdontwanttosellthe.html iehi-feed-55173 Tue, 07 Oct 2014 19:39:55 GMT Lloyds Cutting Thousands of Jobs as CEO Pares Costs http://implode-explode.com/viewnews/2014-10-07_LloydsCuttingThousandsofJobsasCEOParesCosts.html