| Dec 6, 2012 3:17PM Edward J. DeMarco , Acting Director of the Federal Housing Finance Agency, told members of SIFMA this afternoon that "The secondary mortgage market infrastructure that served this country for many years is broken." It is not effective when it comes to adapting to market changes, issuing securities that attract private capital, aggregating data, or lowering barriers to market entry he said. There must be some updating and continued maintenance of the government sponsored enterprises securitization... Dec 6, 2012 9:26AM Just as they had a year earlier, foreclosure and pre-foreclosure sales made up nearly one-fifth of the residential home sales in the third quarter of 2012. According to RealtyTrac's Q3 U.S. Foreclosure and Short Sales Report TM released on Thursday, 19 percent of home sales nationally were either bank inventory (REO) or properties pre-foreclosure. These are usually short sales in which the bank agrees to accept less than the full mortgage balance to release its lien. This share is identical to that...
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