Yuck ...

In the subprime housing scam on the poorest wannabe homeowners .... the poop keeps rising: The Poop on Foreclosures

There's a blog for everything ...

The Housing Doom Housing Bubble Blog has an blurb and some comments about Arizona's mortgage fraud legislation.

Commenter 'ducksface' writes:

I’ve read the bill. It has a basic ring of truth to it but it simply duplicates laws already on the books but specifically mentions the word mortgage in it.
The head of the AZDFI will use it to punish appraisers. Right now appraisers are not under the AZDFI but this bill will allow easier unilateral investigations and punishments outside of the specific enforcing agency much like a drug task force sometimes uses animal control laws to get more charges to stick.

More rosy news in Phoenix May Home Sales Are Slow- And This Is Rush Hour -- a title that I initially considered a form of dry humor but now categorize as the reverse.