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NEW YORK (Reuters) - Defaults on privately insured mortgages rose sharply in April, showing homeowners continue to struggle to keep up with loan payments.
But a one-time change in some of the data may have painted a worse picture than reality, according to Mortgage Insurance Cos of America,
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According to a study prepared for the Department of Housing and Urban Development, the home-mortgage industry takes advantage of lower income, lesser educated borrowers to charge higher fees.
The following article is from the May 30, 2008 Wall Street Journal article by James R. Hagerty:
The study
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