FC Apps, FNMA Predictions, Credit Scores Rise, DQs and ORIGs, CFPB Challenge, Foreign HO Rise, Bubble Dissection, QEternity Weakens GDP, CA Million-Dollar Home Sales, FHA Premium Hike

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(has several) The Best Apps for Real Estate ForeclosuresRealty Biz News 
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Fannie Mae Report: Housing Market Transitions to a New ‘Normal’ – BY MIKE WHEATLEY – Realty Biz News
Here’s a quick summary of the main points highlighted in Fannie’s report:
Interest rates to stay lower than 4.2% until at least the end of 2014.
Less refinancing
Cost of FHA loans to rise
Foreclosure rates to fall
More housing starts
Mortgage originations to rise
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Credit Scores Among Online Mortgage Applicants On the Rise – BY: KRISTA FRANKS BROCK – … In 2012, the average FICO score for online mortgage shoppers was 734, a four-point increase from 2011. Last year’s average was also 70 points above the overall national average credit score of 664, according to MortgageMarvel.com’s findings. … – The M Report 
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(charts and comments) LPS: Fewer Delinquencies in 2012, Highest level of Mortgage Originations since 2007 – by Bill McBride – Calculated Risk

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Challenge to CFPB Authority – posted by Bob Lawless – In the wake of the D.C. Circuit’s decision striking down recess appoints, Carter Dougherty at Bloomberg reports what may be the first example of a defendant raising the CFPB’s lack of authority as a defense in an enforcement proceeding. Stay tuned. Credit Slips

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Homeownership Rates Rising For Foreign-Born Households – by MortgageOrb.com – …  according to new data from the U.S. Census Bureau. … The Census Bureau found that 10 metropolitan statistical areas accounted for about half the nation’s foreign-born households in 2011, … 
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Dissecting the Fed-Sponsored Housing Bubble; HPI-CPI Revisited; Real Housing Prices; Price Inflation Higher than Fed Admits – Mike Shedlock – MISH’S Global Economic Trend Analysis     

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(weak GDP?) FOMC: Fed Warns Of Halted Economy And Disinflation; QEternity Is Here To Stay – Agustino Fontevecchia, Forbes – .. will continue to purchase $40 billion in RMBS and $45 billion in Treasuries a month if “the outlook for the labor market does not improve substantially.” … 
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California 2012 Million-Dollar Home Sales Highest in Five Years – … The number of homes sold for more than $5 million rose to an all-time high, a real estate information service reported. A total of 26,993 homes sold for $1 million-plus last year, up 26.9 percent from 21,267 in 2011. … according to San Diego-based DataQuick. … – DQ News

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FHA to hike premiums on mortgages – By Les Christie @CNNMoney  – Government-insured mortgages are about to get more expensive.
The (FHA), announced Wednesday that it will raise premiums by 10 basis points, or 0.1%, on most of the new mortgages it insures.
Translation: A borrower opting for a 30-year, fixed-rate mortgage who puts 5% or more down will now pay an annual insurance premium of 1.3% of their outstanding balance. And someone who puts less than 5% down will pay a premium of 1.35%.
The agency said it will also raise premiums for borrowers with jumbo loans
— or loans of $625,000 or more — by 5 basis points, or 0.05%, and increase the minimum down payment requirement on these loans to 5% from 3.5%.
and
FHA Announces Imminent Reforms to Rebuild Capital – BY: TORY BARRINGER – The M Report

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