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Banks Reluctant to Agree to Short Sales, Despite Few Better Options

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Bank of America Resumes Foreclosures (New York Times)BofA acknowledges it has found errors during its foreclosure review — but says the errors were "caught early in the process through control steps," and "do not reflect exceptions in final documents that are being resubmitted to the courts."

Independents Flee Democratic Party – GOP Wins Are Projected in November (Politico) The reasons for independent dissatisfaction? No surprises here: Weak job growth and the handling of the economy rank high on the list of discontents.

Freddie: Foreclosure Pipeline is Slowing (Financial Times)The time it takes to foreclose on a home has increased a third, from six months to eight months. The increase is due to both an uptick in foreclosure volume as well as the outstanding legal questions associated with loan documentation.

Banks Reluctant to Agree to Short Sales, Despite Few Better Options (New York Times)And then there is the risk of short sale fraud.

Dollar at Fifteen Year Low against the Yen (Bloomberg)The agreement of finance ministers may have caused a global equities rally, but investors continue to price in QE2 expectations into the currency prices of currency pairs.

Emerging Markets Bolster U.S. Multinational Earnings (Financial Times)