Servicer Advance Securitization, Dignity Mortgage, CA FCs Drop, Dodd-Frank Unconstitutional?, Freddie Purchases Drop, Forced Placed Insurance, LA Flipping, Case-Shiller, Even More CRA, Emirates Down Payments, Buy Mortgages, QM Table, FNMA Underwater DILs, More Miami Condo Towers

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(uses overcollateralization shows flowchart)  Nationstar brings servicer advance securitization to secondary market – By Christina Mlynski – … In other words, Nationstar gets paid to service mortgages. This deal securitizes those payments. As long as Nationstar can keep forwarding the payment portion to investors, the risk of nonpayment is slim. … – Housingwire

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Housing advocates push for new type of subprime loan – The Dignity Mortgage would have a higher rate for higher-risk borrowers but include rate cuts after five years of on-time payments. … Edward J. Pinto, a former Fannie Mae chief credit officer who argues that lax FHA lending helped feed the foreclosure crisis in low-income neighborhoods, said the Dignity Mortgage proposal “is a stupid and crazy idea — a poison pill.” …  – By E. Scott Reckard, Los Angeles Times

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California Foreclosure Starts At Lowest Level Since 2006MortgageOrb – … according to new statistics released by San Diego-based DataQuick. …
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Dodd-Frank is an Unconstitutional Disaster – Phil Kerpen – Townhall.com

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Freddie Mac monthly purchases drop by nearly half – By Christina Mlynski – Freddie Mac bought $33.6 billion worth of mortgages and mortgage-related securities in November, down almost 50% from $62.5 billion purchases in November. – Housingwire http://www.housingwire.com/news/2013/01/25/freddie-mac-monthly-purchases-drop-nearly-half
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(forced placed insurance) Fannie Mae’s Efforts Could Lead To The Break Up Of A Key Monopoly Among The Big BanksSeeking Alpha
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Flip this shack: Eagle Rock and other hipster areas. Flipper activity reaching a fever pitch in certain Los Angeles neighborhoods.Dr. Housing Bubble
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Zillow forecasts Case-Shiller House Price index to increase 5.3% Year-over-year for November – by Bill McBride – … Zillow’s forecasts for Case-Shiller have been pretty close.  Right now it looks like Case-Shiller will be over 6% in 2012 (through the December / Q4 reports to be released in February). … – Calculated Risk
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(we are fools, we never learn – CRA back even more) Obama Pushing Same Type Of Mortgages That Previously Contributed to CrisisWeasel Zippers 
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(common sense) Emirates Banks Association Proposes 75% Mortgage Cap – By Stefania Bianchi – Bloomberg

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As the Fed Buys Mortgages You Should Too – Rebert Lenzer – Forbes

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New Qualified Mortgage categories are confusing until you look at this tableOC Housing News

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Fannie Adds Bailout For Underwater Walkaways: Mortgages – By Kathleen M. Howley – Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money. Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March … – Bloomberg

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Six years after condo crash, 100 new towers proposed – As unsold condo inventory from the last boom continues to dwindle, many new projects are on the horizon. – BY PETER ZALEWSKI – THE MIAMI HERALD

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