FHA to Sell 9k DQ Mortgages, Demographics, HOPE Hotline Calls, Freddie on Rates, FC Risks, Credit Worthiness, CFPB Rules Wave Coming, Underwater and Shadow Inventory, UBS Next?, Low Rate Chats, David Rosenburg, REO Held Off Market

BillCoppedge_26Nov2011original content selection by MortgageNewsClips.com

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FHA readies sale of 9,000 delinquent mortgages – By Jon Prior – The Federal Housing Administration began qualifying investors to bid on 9,000 delinquent loans. Roughly 3,5000 of the mortgages underlie properties in Chicago, Phoenix, Tampa and Newark, N.J., according to details on the loan pool released Wednesday. Investors buying these loans can only push half of them through foreclosure and resell the homes as REO.Housingwire

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(disability payments are why – many charts) Demographic Time Bomb in Pictures and Dollar Amounts; Ratio of Social Security Beneficiaries to Private Employment Now Exceeds 50% – Michael Shedlock – MISH’S Global Economic Trend Analysis

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Increase in Calls to HOPE Hotline Could Signal Next Foreclosure Wave – BY: SARA ORTEGA -  A surge in increased calls to the Homeowners HOPE Hotline, which helps distressed homeowners navigate financial challenges, could signal a possible new wave of foreclosures according to a report released by the Homeownership Preservation Foundation (HPF). … … calls to the hotline from homeowners who are current with their mortgages are up 70 percent this year. Of those counseled, half stated that “mounting instability” to continue payments could cause them to default. – DS News

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Freddie Mac economist says recession could drive mortgage rates even lower – By Hudson Sangree –Sacramento Bee

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(foreclosure risk) Has Your Bank Advised You To Skip Mortgage Payments? – by Donna S. Robinson – … If you do receive this kind of advice from your lender or loan servicer, the rub is it’s probably true, but it may also result in foreclosure. Most folks don’t realize that the department talking to you about your loan is not the same department that will handle foreclosing on you. In fact, they may not even be in the same state, and they may even work for different companies. These departments do not communicate closely, and often “the right hand does not know what the left hand is doing” so to speak. … – Realty Biz News

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(interesting logic) Reader Questions on "Credit-Worthiness": Did Banks Give Mortgages to Non-Creditworthy Borrowers? – Michael Shedlock – MISH’S Global Economic Trend Analysis 

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(mortgage rules coming) Consumer bureau poised to unleash rules – Kathleen Pender- … Beneath the surface, the bureau – which turns 1 Saturday – has been feverishly laying the groundwork for a flood of new regulations and enforcement actions. It already has more than 900 people including about 20 in San Francisco. "Things are about to reach a crescendo. Between now and Jan. 21 you will see an avalanche of regulations dealing with mortgage lending," says Alan Kaplinsky, a partner with law firm Ballard Spahr who represents financial companies. "Once that gets out of the way, they will turn to other product classes." … – SF Chronicle

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10 Million Underwater Mortgages And Shadow Inventory Worth $246B Mean Housing Trouble – Agustino Fontevecchia, Forbes  – … Despite the first monthly increase in home prices in 7 months, as the Case-Shiller indexes showed on Tuesday, there are still more than 10 million properties with underwater mortgages, and a shadow inventory of 1.5 million, or four months supply.  Negative equity will continue to take its toll on consumption, while the shadow inventory, worth about $246 billion according to CoreLogic, will constrict lending and probably affect banks’ earnings. …

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(Liborgate – UBS next?) U.S. Is Building Criminal Cases in Rate-Fixing – BY BEN PROTESS AND MARK SCOTT – NY Times Dealbook

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(low rates around the world 7 charts) The Entire World Is Experiencing The Opposite Of A Sovereign Debt Crisis – Joe Weisenthal – Business Insider – None of this is actually "good" news. … What this essentially means is that there’s a lot of money out there that sees no productive investments in the real world,  … It’s about a growth-deficient world, governments being the one place that can absorb all this money. …

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David Rosenberg’s Brilliant Demographics Chart That Explains Why Treasuries Are Surging And Stocks Are Going Nowhere – Joe Weisenthal – Business Insider
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‘Shadow REO’: As Many as 90% of Foreclosed Properties Held Off the Market – By Teke Wiggin – The Street.com
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RealtyTrac, CoreLogic Confirm Housing Bear Thesis: 85-90% of REO Being Held Off Market, Meaning “Tight” Inventories Are Bogus – Yves Smith – Naked Capitalism

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