Hudson & Marshall Will Auction nearly 130 Homes in Kansas City on March15th and 120 Homes in St. Louis on March 16th ST. LOUIS, March 3 /PRNewswire-USNewswire/ -- Tumbling home prices andmushrooming inventory make it a perfect time to buy a home. Faced with aplethora of choices, buyers are combing the market for bargains andincreasingly turning to bank-owned real estate auctions to find the bestdeals on the block. Hudson & Marshall, America's largest auction firm of"real estate owned" REO properties (foreclosures owned by banks), willauction nearly 300 homes in cities throughout Missouri on March 11-16. "Private auctions of bank-owned homes offer buyers an opportunity topurchase property below market value because lenders are eager to movethese non-performing loans off their books," remarked Dave Webb, principalHudson & Marshall. "Unlike foreclosures sold at county or sheriff auctions,bank-owned foreclosures, sold through private auctions, come withguaranteed title insurance paid for by the sellers, ensuring there are noback taxes or liens on the properties," added Webb. Foreclosure activity continues at a brisk pace nationwide. According toRealtytrac(R), Missouri ranked 20th nationally among the states, reporting3,359 filings in January 2008 an increase of 48% the same time a year ago.The National Association of Realtors also found nationally housinginventory rose 5.5% at the end of January to 4.5 million homes for sale,which is a 10.3 month supply at the current sales pace. Valued from $7,000 to $500,000, all the Missouri homes being auctionedhave been foreclosed upon or "repossessed" by the lenders and are vacant.Winning bidders will be required to make a cash or check deposit of 5% ofthe total sales price or $2500, whichever is greater. Homes are sold "as-is" and interested buyers are advised not to bid onany property they have not inspected. An open house is scheduled for allhomes March 8th and 9th from 1:00pm-3:00pm or by contacting listing agents.Detailed property information is available at
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The Consumer Financial Protection Bureau has received more than 11,000 comment letters on its proposal on personal financial data rights, but banks say the agency should ensure that more fintech partners take on their fair share of the rule's compliance burden.
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The bank doubled down on promises to use legal action if the Consumer Financial Protection Bureau brings an enforcement action against it related to fraud on the Zelle platform, saying in a statement that it would "not hesitate to seek assistance from courts."
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Industry participants say more direct communication between fintechs and federal regulators could help avoid bad outcomes. Some underused legal tools could help bridge the gap.
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A bill from Sens. Richard Blumenthal, D-Conn., and Elizabeth Warren, D-Mass., and companion House legislation from Rep. Maxine Waters, D-Calif., would change the Electronic Fund Transfer Act to guard consumers against losing money in authorized transfers that involve scams
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South Carolina's Optus Bank appoints Benita Lefft its new president; B2B marketplace DesignRush releases its hottest states for digital business growth; Morgan Stanley announces Ellen Zentner's newly created team within the bank's investment wing; and more in the weekly banking news roundup.
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The agency admitted navigating the different rules and regulations involved in its four existing lines of credit proved time consuming and confusing and kept some lenders from offering them altogether.
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