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Iowa rank: 25 90+ Day Delinquency Rate Foreclosure Rate February 2013 1.6% Unemployment Rate 2.6% 5.0% year ago 1.7% 3.0% 5.4% year-over-year change -5.6% -14.6% -7.4% Top County FranklIn CounTy 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.5% 6.0% year ago 2.3% 5.6% year-over-year change 9.0% 7.1% Top Core-Based Statistical area ClInTon, Ia 90+ Day Delinquency Rate Foreclosure Rate February 2013 3.3% 4.1% year ago 3.1% 4.3% year-over-year change 3.8% -5.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS Iowa Senator Grills Attorney General over 'Too Big to Jail' Institutions U.S. Attorney General Eric Holder caused a stir recently by voicing the idea that certain financial institutions may be "too big to jail" in testimony before the Senate Judiciary Committee on Justice Department Oversight. Sen. Chuck Grassley (R-Iowa), ranking member of the committee, stated at the hearing that the Justice Department "continues to follow through with an unfortunate policy of continually entering into civil or criminal settlements with large financial institutions that include large fines, but no jail time for individuals who perpetrate . . . frauds and wreak havoc on the financial sector and individual lives." Grassley contends that large financial institutions are settling for pennies on the dollar and the fines that the Department of Justice has handed down are becoming 92 simply a "cost of doing business for these institutions." Grassley specifically cited the treatment of HSBC, which agreed to pay the government $1.92 billion to settle a money laundering investigation. "What's worse is that the Department publicly proclaimed a 'record' settlement in this case," Grassley said, noting the settlement amount equates to less than 11 percent of HSBC's 2012 profits. "Many believe that HSBC may have made a profit from the DPA [Deferred Prosecution Agreement] because it actually made more than $1.92 billion by providing services to drug kingpins and terrorists," Grassley added. Standing before Grassley and other members of the Senate committee, Holder addressed their concerns about his department's leniency toward certain banks. Holder stated, "I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute when we are hit with indications that if we do prosecute and bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy. I think that is a function of the fact that some of these institutions have become too large." Holder added that the sheer size of many banks today "has an inhibiting influence, impact on [the Department of Justice] to bring resolutions that I think would be more appropriate." On the subject of banks charged with mortgage fraud leading into the financial crisis, however, Holder asserted the department has been "appropriately aggressive" and noted that "these are not always easy cases to make." "When you look at these cases, you see that things were done 'wrong,' then the question is whether or not they were illegal. And I think the people in our criminal division—the people in our U.S. Attorney's Office in the Southern District of New York, for instance—I think have been as aggressive as they could be, brought cases where we think we could have brought them," Holder said. "I know that in some cases that has not been a satisfying answer to people, but we have been as aggressive as we could have been." Holder's remarks have drawn fire from Grassley and other critics who say the Justice Department and the Obama administration haven't been assiduous in pursuing the parties they blame for the nation's economic meltdown. Kansas rank: 32 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.2% Unemployment Rate 1.7% 5.5% year ago 2.3% 2.2% 5.9% year-over-year change -7.9% -21.5% -6.8% Top County BourBon CounTy 90+ Day Delinquency Rate February 2013 Foreclosure Rate 2.7% 4.0% year ago 2.4% 5.1% year-over-year change 12.9% -22.2% Top Core-Based Statistical Area ATChiSon, KS 90+ Day Delinquency Rate Foreclosure Rate February 2013 3.1% 3.9% year ago 3.2% 3.6% year-over-year change -3.4% 7.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS United States Appraisals Joins Collateral Risk Network United States Appraisals, a national appraisal management company (AMC) based in Leawood, Kansas, announced it has joined the Collateral Risk Network (CRN). Composed of chief appraisers, collateral risk managers, regulators, and valuation experts, CRN focuses on resolving risk and compliance challenges facing the collateral risk profession. The network has more than 400 members represented by leading AMCs, lending institutions, Wall Street, Fannie Mae and Freddie Mac, the Veteran's Administration, the Federal Housing Administration, and appraisers. "We are pleased to join an organization that utilizes the diverse backgrounds of its members for the common good of the industry," said United States Appraisals president Aaron Fowler. "Obviously, risk and compliance are hot topics in the mortgage

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