ZIRP and Reverse Mortgages, When Fed Hikes, Fed and Gold, Workflow Processing, Headship Rate, Housing Supply Drops, Single HO Buyers, mREIT Pressure, Mods and Shadow Inventory, Redfin, Banks Hiring, LTVs and FCs, Rescap

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Will Zero Percent Interest Rates Force Older Homeowners Into Reverse Mortgages? – by Donna S. Robinson – Realty Biz News 
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(3 charts) Shifting expectations of the Fed’s first rate hike – Discussions on the first tightening move by the Fed are taking place once again, as investors become a bit more optimistic about the US economy. The tightening action timing was brought into spotlight by the latest speech by Bernanke. The Chairman did not discuss further QE in 2013, which was somewhat unexpected (and disappointing to some) – Sober Look Blog 
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(another way to kick the can) The Keynesian Fiscal Cliff: Federal Reserve Out of Ammunition – By Peter Lumaj – … The news is this: before the Fed goes bankrupt, it should mark-up the value of this gold equity reserves. Our guess is that the Federal Reserve will continue marching along the fiscal Keynesian cliff without ever having to touch its gold reserves. Institutions will be bailed out. Spending and taxation will not be cut. … – Examiner.com 
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(compliance and workflow processing) Using Technology To Solve Default Servicing Challenges – by Ron Redmer – MortgageOrb

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(introducing ‘headship rate’) Goldman Sachs On The Demographic Trend That Could Keep The Housing Market Booming For Years – Joe Weisenthal    – … The improvement in expected household formation is driven by an increasing headship rate among the young, population growth, and the aging population.  … For those not familiar with the term “headship rate” it basically just means the rate at which individuals become heads of households, something that dropped precipitously during the crisis … – Business Insider

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If You’re Trying To Sell Your Home, You Will Be Thrilled By This Chart – Joe Weisenthal – … The important line here is the red line: Months of housing supply on the market. The months of supply is down to 5.4 months, which is down from last month, and sharply down from a year ago. … – Business Insider 
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(stringent credit standards?) NAR: Fewer Single Buyers Make Up The Housing Market – by Michele Dawson – … The 2012 National Association of Realtors® Profile of Home Buyers and Sellers reveals that 65 percent of all buyers are married couples. Two years ago, just 58 percent of buyers were married. … – Realty Biz News 
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mREITs still under pressure – … We believe it’s more an issue of a lack of MBS demand, rather than selling, but it’s been another source of pressure. … – Sober Look Blog
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(charts and comments) Borrowers with modified mortgages re-default as homes re-enter shadow inventorySober Look Blog – … We think we are now seeing a wave of re-defaults from the modifications over the last two years that failed. This wave should last through 2013, and a greater share of current-to-30 rolls will come from re-defaults going forward. …
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Redfin: October Home Sales Defy Usual Slowdown – BY: TORY BARRINGER – The M Report

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(Banks finally hiring) Banks Hiring for Home Loans as U.S. Rebounds – By Heather Perlberg – Bloomberg
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ProTeck Examines Relationship Between LTV Ratios and Foreclosure – BY: KRISTA FRANKS BROCK – … The probability of foreclosure peaks during either the second or third year of distress, according to ProTek. LTV is also “a key driver” in the transition into foreclosure, … In their first year of negative equity, properties with an LTV of 125 percent have just under a 15 percent chance of going into foreclosure. Properties with an LTV of 200 percent have just over 40 percent chance of falling into foreclosure. … – DS News 
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ResCap Wins Court Approval of Ocwen Servicing Unit Sale – By Steven Church – … The ruling comes after ResCap resolved the main objections from the servicing unit’s biggest customers, including mortgage- owners Fannie Mae and Freddie Mac. ResCap will continue negotiating with Fannie Mae and other mortgage holders over their demands for so-called cure payments, cash payments that compensate creditors for actual and potential losses caused by a bankruptcy filing. … – Bloomberg

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