PUMP IT UP (3 BIG BANKS)

WELL IT SEEMS THE HOUSING MARKET IS COMMING BACK (YEA SURE FOR HOW LONG)
 WELL AS LONG AS THE BANKS HOLD OFF SALES AND LET THE PRICES INCREASE AND SLOWLY FLOOD THE MARKET WHAT BETTER WAY TO MAKE MORE PROFITS  WHAT IS PRICE = THE ADJUSTED VALUE OF SUPPLY AND DEMAND..........
 DECREASE  SUPPLY = INCREASED DEMAND  ALSO EQUALS  INCREASED SUPPLY = DECREASED DEMAND
GNS+RESEARCH

Keeping The 'Recovery' Dream Alive; 3 Big Banks Halt Foreclosures In May

By Tyler Durdenhttp://www.zerohedge.com/print/474510

Created 05/28/2013 - 13:19

[1]

Submitted by Tyler Durden [1] on 05/28/2013 13:19 -0400

• Citigroup [2]
• Foreclosures [3]
• Housing Market [4]
• JPMorgan Chase [5]
• recovery [6]
• Wells Fargo [7]

What is the only thing better than Foreclosure Stuffing [8] to provide an artificial supply-side subsidy to the housing market? How about completely clogging the foreclosure pipeline, by halting all foreclosure sales, which is just what the three TBTF megabanks: Wells Fargo, JPMorgan and Citi have done in recent weeks. Under the guise of 'ensuring late-stage foreclosure procedures were in accordance with guidelines', the LA Times reports that these three banks paused sales on May 6th and all but halted foreclosures. Perfectly organic housing recovery - as we noted earlier... [9] and guess what states the greatest number of 'halts' are in from these banks - California, Nevada, Arizona - exactly where the surges in price have occurred [9].
Via The LA Times, [10]

Sales of homes in foreclosure by Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. ground nearly to a halt after regulators revised their orders on treatment of troubled borrowers during the 60 days before they lose their homes.

The banks said they paused the sales on May 6 to make sure that their late-stage foreclosure procedures were in accordance with the guidelines. The banks wouldn't say exactly which issues had been under scrutiny.

...

Wells and Citi were still on hold as of Friday, according to PropertyRadar.com, which tracks foreclosure filings in California, Nevada, Arizona, Oregon and Washington.

...

"We simply needed to take the time to assure that we can validate and document our compliance," Wells Fargo added.http://www.zerohedge.com/print/474510