Bounce and Slog, 7 Presidential Questions, San Bernardino, Home Builders, REOs, Sharpie Parties, FED Owns Everything, Reverse Mortgage Leads, New Jersey, Appraisals, Ocwen and FHA, SPOC Problems

BillCoppedge_26Nov2011original content selection by MortgageNewsClips.com

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(charts and logic) A theory on the bounce and slog housing market – Will rising home prices resurrect those negative equity home owners? – Dr. Housing Bubble – … The premise is interesting and I think this is likely a path for housing for the next few years.  A sort of bouncing along on the bottom as distressed inventory is funneled out but also, many underwater home owners come online to sell and thus pushes inventory up putting a cap on how high home prices can go up.  Supply and demand on the MLS but behind the scenes, we have a potential pool of inventory that has never existed in the US housing market. …

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(7 questions) Time for presidential candidates to talk housing – By Kerry Curry – … "We are entering a critical phase of the presidential campaign," said David Abromowitz, a senior fellow at the Center for American Progress. CAP and the National Council of La Raza, among others, sponsored the event. In conjunction with the event, CAP released a set of seven housing questions it said it sent to each presidential candidate in a "Home for Good" campaign to bring more awareness to the still struggling housing market: … – Housingwire

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San Bernardino County residents push back against eminent domain – By Jon Prior – … Residents in the area are suspicious of the eminent domain proposal and the investor group pitching it. "I object to government sharing the immense power of eminent domain with private companies," said Margaret Michaels, who lives in the area. "We give this power to our elected officials so we can vote them out if we want. This could be a loss of defenses for the homeowners." … – Housingwire

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US Home Builders Begin to See Credit Thaw – By: Diana Olick – CNBC

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(2 reasons) Why Lenders Don’t List REOs: The Conspiracy Theories – By Daren Blomquist, RealtyTrac 

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‘Sharpie Parties’ Fuel Rampage on Foreclosed US Homes – By: Reuters – In the age of Facebook and Twitter, a new crime has hit America: "Sharpie parties," gatherings of revelers armed with "Sharpie" magic markers and lured by social media invitations to wreak havoc on foreclosed homes. … At least six Sharpie parties were reported in one California county in recent months, … The partygoers are handed Sharpie pens on arrival by their hosts and urged to graffiti the walls – a destructive binge that often prompts other acts of vandalism, including smashing holes in walls and doors, flooding bathrooms and ripping up floors. … – CNBC

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(what happens after the Fed owns all treasurues?) Behold The Fed’s Takeover Of The Bond Market – Submitted by Tyler Durden – The must see time lapse video below courtesy of Stone McCarthy shows the distribution across the entire curve of the US marketable debt, as it was held by either the Fed, or the private sector over the past three unconventional monetary policy programs: starting in 2003 and concluding yesterday. In one short minute, this clip demonstrates very vividly how the Fed effectively took over the US bond market. Zero Hedge

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Online Versus TV Reverse Mortgage Leads: It’s a Different Type of Borrower – by Elizabeth Ecker – With many reverse mortgage lenders today testing the waters of online marketing, some are starting to see enough results to say that the online borrower is a different type from the traditional sales leads generated through direct mail or TV ad campaigns. – Reverse Mortgage Daily

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(is economy really getting better?) New Jersey Unemployment Hits 35-Year High of 9.8%; What Does That Suggest About Retail Sales? – Michael Shedlock – As I continue to ponder reported rising retail sales, I note that Bloomberg reports New Jersey Jobless Rate Increases to 35-Year High of 9.8% – MISH’S Global Economic Trend Analysis   

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(this is interesting read this) Agencies Issue Proposed Rule on Appraisals for Higher-Risk MortgagesFR Board of Governors Press Release
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Ocwen to securitize FHA mortgages – By Jon Prior – A special vehicle put together by subprime mortgage servicer Ocwen Financial Corp. plans to acquire government-backed loans soon and package them into bonds for investors. Ocwen and its former asset management firm Altisource built Correspondent One last year. The vehicle will buy mortgages originated by Lenders One, which Ocwen estimates wrote 8% of all home loans in the U.S. last year. Lenders One is a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Correspondent One will also acquire Federal Housing Administration mortgages soon for future securitization – Housingwire

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(SPOC Problems) Report: Small, Midsize Servicers to Lose Most Under New Rules – BY: RYAN SCHUETTE – The Consumer Financial Protection Bureau strikes once more – against the little guy, reports suggest. One of those came from Moody’s Investors Service on Thursday. The ratings agency released a report that linked a tide of new rules from the credit bureau to “costly” and “challenging” new costs for small to midsize servicers. … According to Moody’s, these servicers will likely encounter “significant hurdles” in moves to adopt the single point of contact strategy. … – The M Report

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