GSE Purchases Double, G-Fee Rise, Budget Deficit, Manhattan Is Expensive, Morganson MERS Muddle, Short Sale Hardship Cases, Consumer Spending, Foreclosure and Voting, Levin on Servicing Settlement, CFPB and Appraisals


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(has Fannie, Freddie, and Ginnie) Fannie Mae mortgage purchases nearly double from last year – By Jon Prior – Housingwire

Fannie Mae, Freddie Mac Guarantee Fees Increased By Regulator – By Clea Benson – … FHFA Acting Director Edward J. DeMarco called for the increases, starting in November, to help restore the taxpayer- owned companies to fiscal stability and shrink their footprint in the mortgage market, where they now own or guarantee about 60 percent of U.S. home loans.“These changes will move Fannie Mae (FNMA) and Freddie Mac pricing closer to the level one might expect to see if mortgage credit risk was borne solely by private capital,” DeMarco said in a statement. … – Bloomberg

Goldman: US faces $8 trillion budget shortfall through 2022Sober Look Blog – Goldman’s latest analysis of the US budget shows a staggering gap of $8 trillion in the next 10 years. This materially diverges from the latest White House projection as well as from the CBO’s “baseline”. 

Manhattan by far the most expensive place to live in the US – By ANDY SOLTIS – … Manhattan rates a Cost of Living Index of 233.5, according to the Council for Community and Economic Research. That’s based on a national index average of 100 — so Manhattan is well over twice as pricey as the average. … – NY Post

(MERS) Mortgage Registry Muddles Foreclosures – By GRETCHEN MORGENSON – NY Times

Fannie, Freddie ease short-sale rules in hardship cases – By Kenneth R. Harney – … Starting Nov. 1, owners whose loans have been purchased or guaranteed by Fannie or Freddie may qualify for a short sale if they fit key hardship criteria including: unemployment; divorce; long-term disability; a change of employment that is more than 50 miles from the current home; a business failure; death of the primary or secondary wage earner; or a natural or man-made disaster. … – LA Times

New rules on short sales of homes may not go far enough, critics say – Duane Marsteller – The Tennessean
US consumer spending has been surprisingly briskSober Look Blog

Poverty, foreclosures make get-out-the-vote effort difficult – By Don Walker – Milwaukee Journal Sentinel 
National Mortgage Servicing Settlement Progress Report: Little to Show (And Little Expected
) – posted by Adam Levitin – Credit Slips 
Consumer agency continues to ride herd on appraisals – By KENNETH R. HARNEY – hattip April Smith – Seattle Times 


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