Home Valuations Richard Koo, Housing and QE3, HARP Repurchase Relief, FN In-House REO, CFPB and Small Servicers, QM Definition, Tight Credit vs QE3, Reverse House Staging and Flopping

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Appraisals, Evaluations, BPOs and AVMs – (regulators want better valuations but don’t specify how)  A New Due Diligence Dilemma – by Michael H. Christensen – MortgageOrb
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What Richard Koo Learned When He Went Undercover Into A Bank And Pretended To Be A Homebuyer – Joe Weisenthal    – Business Insider
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Betting the house with the Fed – Stock market at levels last seen in December of 2007 – Examining what has changed and impact of Federal Reserve on housing. QE3 preemptive strike on fiscal cliff?Dr. Housing Bubble

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GSEs ease mortgage buyback rules on HARP – By Jon Prior – Fannie Mae and Freddie Mac eased some guidelines for lenders refinancing mortgages, including new relief from buying back the loan, according to an alert sent to lenders.Housingwire

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Fannie Mae moving REO management in-house – By Jacob Gaffney – The use of third parties to help Fannie Mae sell its REO properties is coming to an end. Fannie Mae notified remaining vendors that the government-sponsored enterprise will transition all REO sales work completely to Fannie Mae’s in-house teams over the course of the next several months. – Housingwire

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CFPB-proposed mortgage servicing standards may prove costly for small players – Posted by Jacob Gaffney – Housingwire

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Trade Groups Push CFPB For Broad QM Definition – by MortgageOrb.com A coalition of 10 financial services trade groups sent a letter to Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), that calls for a broadly defined Qualified Mortgage (QM) rule that includes a legal safe harbor
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NAR: Tight credit could limit boost from QE3 – Trade group questions proposed mortgage regulations – Inman News

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(‘reverse house staging’ and flopping) Housing prices: Agents make houses sell for a lot less. On purpose. – By Schuyler Velasco – … One of the more curious new trends in real estate is called “reverse house staging.” Instead of bringing in a professional to make a home look better, some real estate agents make it look worse. They fake water damage, put faux-finish “cracks” on the walls, tear up the lawn, and remove furniture. … – CS Monitor

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