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
What Richard Koo Learned When He Went Undercover Into A Bank And Pretended To Be A Homebuyer – Joe Weisenthal    – Business Insider

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


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

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

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

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
NAR: Tight credit could limit boost from QE3 – Trade group questions proposed mortgage regulations – Inman News

(‘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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