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...But even with mortgage rates near a 50-year low, too many families with solid credit who want to buy a home are being rejected....
...In response to demands by US regulators, the largest home loan companies have been reviewing foreclosures in 2009 and 2010 to ensure that borrowers of all kinds were not improperly evicted....
...The ResCap auction is taking place at the same time as the estate of the bankrupt Lehman Brothers investment bank is seeking a buyer for Aurora, its Delaware-based mortgage servicer....
...Lehman Brothers staged a further retreat from the troubled home-loan industry yesterday, saying it would cut about 1,300 mortgage jobs and reduce lending activities by its Aurora Loan Services subsidiary...
...Lehman will continue to originate mortgages by its Aurora Loan Services platform that focuses on Alt-A mortgages, which are closer to meeting prime mortgage standards....
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