Unemployment, QE Bet, MRP and Eminent Domain, Pre 2005, Six Year High, FC Sales Drop, Romney Plan, Clear Capital, Trulia, Down Payments, FHA Streamlines, FHLBs, Down Payments and QRM, Reverse Call Centers, Corelogic, Hope Now, Bill Gross

 

mncfay[5]BillCoppedge_26Nov2011

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(unemployment number) Labor Market Strengthens Bernanke’s Case for More Easing – By Joshua Zumbrun and Jeff Kearns – Bloomberg
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(QE bet) Mortgage-Bond Spreads Fall to Five-Year Low on Bets Fed Will Buy – By Jody Shenn  – Bloomberg

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(by screwing bondholders?) MRP could net 30% profit on expanded eminent domain plans – By Jon Prior – Housingwire

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(most prepaid so only bad left) Previously Strong Vintage Now Faltering: Fitch – BY: KRISTA FRANKS BROCK – Adverse selection is leading to rating downgrades for “one of the strongest U.S. residential mortgage vintages,” the pre-2005 vintage, according to Fitch Ratings. … more than 93 percent have already been repaid in full … – The M Report

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Home Prices Rise to Six-Year High in July: CoreLogic – BY: TORY BARRINGER – The M Report

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Foreclosure sales drop to lowest level since 2008: Clear Capital – By Jon Prior – Roughly 20% of home sales in the three months ending in August were previously foreclosed homes, a drop from more than 26% for the previous three months and the lowest percentage since April 2008, according to analytics firm Clear Capital. – Housingwire 
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(not say how) Romney housing plan accuses Obama of slowing economic recovery – By Jacob Gaffney – … The Romney plan includes a sell-off of 200,000 vacant, foreclosed properties owned by the government … – Housingwire

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Clear Capital September 2012 Market Report August housing trends remained positive, though with a new twist. Fair market home prices outperformed the REO segment price gains on a rolling quarterly basis for the first time since April 2011. Clear Capital’s September HDI Market Report examines how this emerging trend could affect the broader market, both through price changes and policy shifts.
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Trulia: Asking House Prices increased in August, Rent increases slow – by Bill McBride – Calculated Risk

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Consumer Groups: Keep Downpayment Language Out of QRM Rule – by Brian Collins – Including a downpayment requirement in the ‘Qualified Residential Mortgage’  rule will create an unnecessary barrier to homeownership for low- and moderate-income families, according to six consumer and fair housing groups. – National Mortgage News

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FHA streamline refinances increase 42% in July – By Jon Prior – Housingwire

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(good read I learned 2 new things) What Does The Future Hold For The Federal Home Loan Banks? – by Edward DeMarcoMortgageOrb
1.  acquired member assets (AMAs), are held in portfolio
2.  Meanwhile, in the past year, growth of FHLBank membership has been concentrated among insurance companies, which have collateral arrangements with the FHLBanks that differ in some critical ways from those with insured depository institutions
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Consumer Groups: Keep Downpayment Language Out of QRM Rule – Brian Collins – Including a downpayment requirement in the ‘Qualified Residential Mortgage’  rule will create an unnecessary barrier to homeownership for low- and moderate-income families, according to six consumer and fair housing groups. – National Mortgage News

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New Retail Reverse Mortgage Leaders Emerge, Call Centers Top List – by Elizabeth Ecker – Big banks no longer have a stronghold on the reverse mortgage market, and those that have made big gains in the retail space are trending largely toward the call center model of loan origination. – Reverse Mortgage Daily

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CoreLogic Soars With the Housing Market – By Marc Courtenay – We’re talking about a wide array of customers with deep pockets and recurring needs. Information is only as good as it is current and fresh. So the client base of CLGX has to keep going back to the well for the latest updates and reports. – TheStreet.com

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HOPE NOW: Proprietary Loan Mods Up 43% in July – BY: TORY BARRINGER – DS News
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PIMCO Investment Outlook – Bill Gross – September 2012 – ​The Lending Lindy
1. Our entire finance-based monetary system –
led by banks but typified by insurance companies, investment management firms and hedge funds as well – is based on an acceptable level of carry and the expectation of earning it.
2. In a New Normal economy where lenders dance to the Blue Danube instead of the Lindy
, how should we move our own feet?  Carefully, I suppose, and with recognition that historic returns are just that – historic.​

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For Rob Chrisman’s latest daily post, click here.

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