Red States Win Residents, G-Fee Increases, Fed on Margins, REO Sales Lessen, Fiscal Cliff, 2004 Repurchases, State FC Timelines, Trulia and CoreLogic Prices Up, Raise Taxes or Else


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Where Americans Are Moving – By Joel Kotkin – The red states may have lost the presidential election, but they are winning new residents, largely at the expense of their politically successful blue counterparts.  – Forbes 
BofAML: Forecasted g-fee increases could triple in 2013 – By Christina Mlynski – While g-fee increases will continue nationally, state level g-fee pricing – proposed by the Federal Housing Administration – will result in an increase in guarantee fees charge for mortgages in Connecticut, Florida, Illinois, New Jersey and New York. … As a result, g-fees are expected to rise by at least an additional 30 to 50 basis points to match recent private label execution in 2013, according to BofAML … – Housingwire

(Fed: you are making too much money) Fed to hold lenders’ feet to the fire on mortgages – By Jonathan Spicer and Leah Schnurr – (Reuters) – Frustrated Federal Reserve policymakers on Monday sought an explanation from mortgage lenders as to why the benefits of lower interest rates were not filtering to home buyers as quickly as in the past even as investors benefited 
REO Sales Diminish to Under 20% of Overall Home Sales: Clear Capital – BY: CARRIE BAY – … Even with fewer fair market sellers put their homes on the market—which is typical during the winter season—Clear Capital says REO sales held steady at 18.4 percent of total sales. … Should distressed sales hold around their current level for the next several months, Clear Capital says downward price pressure should be minimal –- but that’s barring any other outside economic stress. … – DS News 
(fiscal cliff and housing) Clear Capital Home Data Index Market Report – December 2012 – Fiscal cliff and winter face off. Recovering housing markets barely a year in, face double whammy of fiscal cliff and winter slowdown.
(2004 repurchases!) US Bancorp: Freddie Mac raises demands for banks to take back sour mortgages – Posted by cmlynski – … Freddie Mac informed U.S. Bancorp and other banks during the Goldman Sachs Financial Services conference that the GSE would demand banks to take back defaulting mortgages made in 2004 and 2005. Previously, both Fannie Mae and Freddie Mac only demanded banks to take back mortgages made in 2006 or later. … – Housingwire 
(FC timelines by state) How foreclosure backlogs could hurt home buyers – Amy Hoak – MarketWatch – The situation appears worst in New York, where it takes an average of nearly three years — 1,072 days, to be exact — for a home to go through the foreclosure process. It’s not much better in New Jersey, where it took an average of 931 days to foreclose on a home in the third quarter, according to statistics from RealtyTrac. Or in Florida, where it took about 858 days. See: How long a foreclosure takes in your state 

(details) Trulia: Asking House Prices increased in November – by Bill McBride – Calculated Risk 
CoreLogic: House Prices up 6.3% Year-over-year in October, Largest increase since 2006 –  by Bill McBride – Calculated Risk 
(raise taxes or else!) On Twitter, Obama puts question mark over mortgage deduction – By Mark Felsenthal and Jeff Mason – (Reuters) – Taking to Twitter to press his case in “fiscal cliff” talks with Congress, President Barack Obama said on Monday that tax breaks benefiting middle class families such as the mortgage interest deduction could be at risk if rates for top earners do not rise. 


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