Rentals Are Sexy (3), Low HO Rate, BofA vs. FNMA, Eminent Domain, Realtors on Underwater, Walmart, After 50 Become A Woman, Free FC Reviews, Fed Buys Stocks?, Fed’s Next Tools

BillCoppedge_26Nov2011original content selection by MortgageNewsClips.com

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Rental Section (3)

Rent increases pushing up housing starts but will also impact CPISober Look Blog – The only positive news coming out of the US economy seems to be the housing market. Housing starts had a nice increase in spite of a slowdown across most sectors.
and 
Blackstone bets on housing recovery, buys 2,000-plus homes-for-rent – Ilaina Jonas – Reuters – Chicago Tribune – also – … Asset management firm TCW, which specializes in fixed-income securities and oversees $128 billion in assets, recently launched the TCW Home Place Partners fund, as an opportunity for wealthy investors to invest in the "housing turnaround" by buying foreclosed homes from banks and federal government agencies. Beazer Homes USA, Inc in early May announced Beazer Pre-Owned Rental Homes, Inc –– founded by the company and which includes an investor group led and arranged by affiliates of private equity firm Kohlberg Kravis Roberts & Co . …
and 
Exclusive: Ex-Goldman mortgage chief plans foreclosed home fund – By Matthew Goldstein, Jennifer Ablan and Lauren Tara LaCapra – (Reuters) – Former Goldman Sachs Group Inc. (GS.N) executive Donald Mullen, one of the architects of the subprime mortgage trade, is trying to raise at least $500 million for a fund that will buy foreclosed homes with an eye toward renting them out.
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Other News:

How low can the American homeownership rate go? – Posted by kpanchuk – The American homeownership rate fell from 69.2% in 2004 to a low of 65.4% in the first quarter of the year, but how much further does that rate have to fall? Paul Diggle, a property economist with Capital Economics, asked that question in a new research report released this morning. The future of homeownership depends a great deal on how young buyers will view homeownership in the future.Housingwire

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BofA mortgage repurchase dispute with Fannie Mae grows to $7.9 billion in loans – By Jon Prior – Bank of America executives said Fannie Mae will either have to file litigation or agree to a settlement to resolve the dispute over mortgage repurchase claims. The bank and the government-sponsored enterprise disagree over $7.9 billion in mortgages Fannie claims BofA should buy back because of faulty origination practices, up from $3.7 billion at the end of last year. The bank said it should not have to buy back the loans because borrowers made at least 25 monthly payments on them. The claims stem from mortgages originated in 2006 and 2007Housingwire
and
What Relief? Bank Of America Faces New Mortgage Claims Reaching $23 Billion – Halah Touryalai, Forbes  – It seems that when Bank of America puts one mortgage-related problem behind it another pops up. This time the new problem is in the form of $6.8 billion in new repurchase claims.
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Mortgage-seizing eminent domainers face Herculean task in proving public good – Posted by Justin T. Hilley – The Securities Industry and Financial Markets Association released a legal memo on Tuesday drafted by law firm O’Melveny & Myers at the request of the association that addresses what it says are legal and constitutional problems with the infamous eminent domain proposal out on the West Coast. The association then held a conference call in which it gave three reasons why it thinks the proposal does not provide an overall public good, which it must — by law: … more – Housingwire

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(realtors say underwater homeowners not a factor?) Will Underwater Homeowners Lead to Higher Prices? – BY: KRISTA FRANKS BROCK – The M Report
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Walmart’s Positive Impact On Home Prices: NBER – BY: ESTHER CHO – Despite Walmart’s ubiquity and popularity, the retailer faces local opposition when attempting to build a new store because opponents argue that the store, known for low prices, also lowers home prices in the area. A study from the National Bureau of Economic Research (NBER) explored the question of Walmart’s impact on home prices and found that the opposite appears to be true.DS News

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(great charts) After 50: Get A Job, Work Longer, And Become A Woman – Submitted by Tyler Durden – Zero Hedge

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Borrowers wary of free foreclosure reviews – Lily Leung – Imagine trying to move on from a foreclosure, and years later, getting a letter asking if you’d consider a free review of that painful event. Would you take it or leave it? It appears few are saying yes to those offers, which lenders were required to send out under government order. Of the 4 million people who may be eligible for reviews, only 5.3 percent have actually submitted for one – UT San Diego

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ROUBINI: If Everything Goes Wrong, The Fed Will Start Buying Stocks – Matthew Boesler    – … The NYU economist – known as "Dr. Doom" and the forecaster of the "global perfect storm" for the world economy in 2013 – told Reuters’ Chrystia Freeland in an interview that the Fed may not be able to prevent the next stock market plunge. … – Business Insider

and
(has 6) FOMC’s New Tools – By Walter Kurtz – Speculation on the Fed’s future tactics for economic recovery. – Minyanville

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