Rent Too High?, GSE Financials, Zillow, Rentcroppers, G-fees Rise, Originations Will Drop, Reverse Mortgages, Peter Wallison, Fannie REO, Fiscal Cliff, Realtors Hate Bulk Sales, 2nds To Be Hit, Keeping Rates Low

BillCoppedge_26Nov2011original content selection by MortgageNewsClips.com

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Are Multifamily Operators Pushing Rents Too High? – Brian Collins – … but tenants are starting to push back when landlords get too aggressive on prices. … -  National Mortgage News

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FHFA starts to certify GSE financial statements – By Jon Prior – … Before then, the FHFA simply took the government-sponsored enterprises’ word for it. … – Housingwire
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Zillow: July Sees More Home Value Gains, Market To Cool In Fall -BY: TORY BARRINGER – DS News

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(another viewpoint on rentals worth reading) Our Coming Rentcropper Society – Yves Smith – … We are in the midst of a sea change in terms of the relationship of ordinary Americans to the housing market. Policymakers are not only in denial as to its magnitude, but are actively enabling courses of action that are likely to prove destructive. … – Naked Capitalism

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G-fees could rise 8 basis points – By Jon Prior – … A tax cut law enacted by Congress in December specifically required the average g-fee charged for 2012 originations financed by the government-sponsored enterprises be at least 10 bps higher in order to pay for the cuts. With no increases done in the first three months of the year, the upcoming raise will have to be nearly as steep as the initial 10 bps increase in April. … – Housingwire
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(originations will drop) Fannie Mae Tightens Mortgage Standards for Some Home Buyers – By Jody Shenn  -  … The changes include a reduction of the maximum loan-to- value ratios for some adjustable-rate mortgages to 90 percent, from as much as 97 percent, and an increase in required credit scores for certain loans, the Washington-based company said yesterday on its website. Fannie Mae also will start demanding more tax returns from self-employed borrowers, according to Matt Hackett, underwriting manager at New York lender Equity Now Inc. … more – Bloomberg Businessweek

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Could Reverse Mortgage Opportunity Be Found in the Least Obvious Places? – by Elizabeth Ecker – California, Texas and New York continue as specific strongholds for reverse mortgages relative to other states, but several unsuspecting regions have also emerged over the course of the past month, according to a report today from Reverse Market Insight. – Reverse Mortgage Daily

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Peter Wallison: Did Geithner seal Fannie, Freddie’s fate? – By PETER J. WALLISON – … With no opportunity to accumulate retained earnings, the two … (GSEs) will have no net capital, no chance to function independently of the government and thus no chance to be released from the conservatorship that now controls their activities. … The Treasury’s action reflects a recognition that the greatest obstacle to GSE reform is the possibility that Fannie and Freddie will return to profitability as the housing market recovers. This would generate enormous political pressure … to release them from the conservatorship with their government backing intact. The new Treasury plan seems to make this virtually impossible. … – OC Register

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Nearly half of Fannie Mae REO unable to reach market – By Jon Prior – Housingwire

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Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says – By Steven Mufson and Lori Montgomery – …if  Congress is about to steer the nation over what is being widely dubbed a “fiscal cliff” by failing to agree on a budget, then maybe the Fed should save its ammunition. … – Washington Post

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(realtors want their 6%) C.A.R. Calls for Transparency in FHFA Bulk Sales Pilot – BY: TORY BARRINGER – DS News 
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(has interesting numbers examples) New FHFA short sale cap may equal big losses on some second liens – By Jon Prior – Housingwire

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FOMC Minutes: Discussion of policy tools the FOMC "might employ" – by Bill McBride – Update: Here is a key sentence: "Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery" … This seems to suggest that "many participants" are supportive of QE3, although an alternative might be an extension of the period of exceptionally low rates. …Calculated Risk

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