Fewer FCs, Wells Fargo, Not Printing Money, Pine River, Killing IR Deduction, Print More Money, Citi Jobs Cut, HUD Distressed Sales, Maxine Waters, Freddie Buybacks, Short-Sale Deadline, FHFA Principal Forgiveness, 5 State Tax Exodus, Mortgage Debt Relief Act, Hoe Price Recovery

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(FCs held back) Despite Analyst Predictions, Number of Properties for Sale Reaches Decade’s Low – by Alina Popescu – Realty Biz News 
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Wells Fargo serves up principal reductions and popcorn – By Kimberly Miller – Palm Beach Post 
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(4 great charts) Fed lowers mortgage rates without “printing money” – Sober Look Blog –  … If lowering mortgage rates was what the Fed intended to accomplish with the latest monetary expansion, the central bank has succeeded. … 
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Pine River Embracing Reverse Debt to Dodge Bernanke: Mortgages – By Heather Perlberg, Christine Harvey & Jody Shenn – Bloomberg 
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The Liberal Plan to End the Mortgage-Interest Deduction – Posted by: Joshua Green – The Center for American Progress, a liberal think tank, … it’s worth paying attention to what CAP is proposing, since its politics and policy usually track pretty closely with those of the White House. … – Bloomberg Businessweek 
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(answer: print more money) The Fed Is Making The Fiscal Cliff Problem Worse – By Matthew Yglesias – Slate.com

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(mostly foreign ops) CITIGROUP CUTTING OVER 11,000 JOBS – Julia La Roche – Business Insider – (financial services continue to contract. Remember that UBS recently cut 10k people) 
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(some new news here) HUD To Accelerate Distressed Asset Sales In 2013 – by MortgageOrb.com – …  first quarter of 2013, will include approximately 10,000 to 15,000 loans, and will have targeted Neighborhood Stabilization Outcome (NSO) pools located in select metropolitan areas in Georgia, California, Florida and Ohio.
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(more entertaining than Barney!!!) Waters Named Top Democrat On Financial Services Committee – by MortgageOrb.com

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Freddie’s 2013 Buyback Strategy: Older Loans for QC but Fewer Reviews – BY: KRISTA FRANKS BROCK AND CARRIE BAY – DS News 
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Short Sales of Homes Surge as Tax Break to Expire: Mortgages – By Kathleen M. Howley – … tax break expires at the end of the year.Bloomberg

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Deutsche Bank predicts any FHFA principal forgiveness will be earned – By Christina Mlynski – … Simply, borrowers with good payment histories could earn forgiveness by continuing to perform. This would avoid the “moral hazard”  … – Housingwire

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Tax Exodus: 5 States That Residents Are Fleeing – By ResidencyHQ, Minyanville – hattip Mallory Hill 
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Update: Mortgage Debt Relief Act – by Bill McBride – The Mortgage Debt Relief Act of 2007 is set to expire at the end of 2012 and this could have a significant impact on short sales. … If this act isn’t extended, short sales could decline sharply. …Calculated Risk

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There’s a home price recovery… but it’s really, really slow – By Les Christie @CNNMoney

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