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County's foreclosures up 63% from prior year

April 12, 2006

By COCO SALAZAR

Foreclosures surged in Los Angeles County as rising rates stressed
borrowers who used "aggressive financing" to get into homes they could
not otherwise afford.

The number of foreclosures in Los Angeles County during the first
quarter totaled 5,949, up 17 percent from the previous three-month
period and a whopping 63 percent above the total in the comparable
quarter a year earlier, Default Research ...   more »

Blog sponsored by Bankrupt-Law.com


April 14, 2006

By COCO SALAZAR

Concerns about adapting to the new credit scoring system recently
announced by the three credit bureaus were addressed by a panel that
included representatives from one of the bureaus and a major subprime
lender.

The teleconference panel members included Experian representatives Steve
Robles and Chuck Robida and New Century Mortgage Senior Vice President
Bill McKay.

While Experian, TransUnion and Equifax have traditionally used slightly
customized algorithms based on software developed ...   more »