REO Rental Securitization?, Ohio Short Sales, Bernanke, FC Settlement Details, Cordray Nomination, Owners Equivalent Rent, All Are Renters, Sunsetting Reps, GSE Risk, Cordray Jumps In, FHA Problems, Bond Bears


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Blackstone eyes first-ever REO-to-rental securitization – By Adam Tempkin – … and the deal could come later this year, … Word of the plans comes a week after the private equity giant got an increased bank loan from Deutsche Bank and others to expand its significant holdings of single-family homes. … Since last year, credit rating agencies have been working on possible criteria that would be used to rate a REO-to-rental securitization. … – Reuters

(Ohio Short Sale Speedup) Senator Brown Introduces Plan To Address ‘Underwater’ Mortgages – By Emily McCord – Nearly 1 in 4 Ohio mortgages are underwater, according to numbers from real estate data company Zillow Inc. US Senator Sherrod Brown says that’s why he’s introducing legislation to speed up what’s known as short sales. Emily McCord reports. – WYSO Public Radio

EDITORIAL: Behind the Bernanke curtain – Senate must act to bring transparency to the Federal Reserve – … The value of the work the Fed has done so far is open to question. … From the beginning, the Federal Reserve has presided over the wholesale destruction of the American dollar, which has lost 95 percent of its purchasing power since 1913. … Despite the enormous power and influence it has over the daily lives of Americans, the Federal Reserve has never submitted its books to a full and public audit. … – Washington Times

Regulators Provide Payment Details for $9.3B Foreclosure Settlement – BY: ESTHER CHO – About 4.2 million eligible borrowers should expect to receive a check ranging from hundreds of dollars to $125,000 in the next few months as part of the new agreement that replaced the Independent Foreclosure Review (IFR), regulators announced during a call Wednesday. – DS News
Cordray Nomination at Stalemate as Senators Refuse to Negotiate – By Cheyenne Hopkins – … Cordray faces a pledge by 43 Republican senators — enough to prevent a floor vote — to block his confirmation unless Democrats agree to structural changes to the bureau, created by the 2010 Dodd-Frank Act. … – Bloomberg 
(interesting chart & concept) On CPI And Owners Equivalent Rent – Cullen Roche – Seeking Alpha

You Say You’re A Homeowner And Not A Renter? Think Again – by Mike Bryan and Nick Parker – The Federal Reserve Bank of Atlanta – As we’ve said before, we’re suckers for cool charts. The latest that caught our eye is the following one, originally created by the U.S. Bureau of Labor Statistics. – Seeking Alpha 
(on sun-setting reps and warrants) Banks, Rating Firms Square Off Over Mortgage Bonds – By Al Yoon – Wall Street Journal 
(2 kinds of risk – link to white paper) FHFA OIG: GSEs Face Significant Loss from Interest Rate Risks – BY: ESTHER CHO- Fannie Mae and Freddie Mac are at risk of losing billions as a result of fluctuations in interest rates, according to a white paper from the Federal Housing Finance Agency (FHFA) Office of Inspector General. – DS News

Richard Cordray jumps back into the ring – By Kerri Ann Panchuk – Housingwire

Problems at FHA Too Big for Congress to Ignore – Larry Taylor – Recent blog posts from the House Financial Services Committee about the risks in the Federal Housing Administration indicate significant and growing political risk for the program. Clearly Chairman Jeb Hensarling (R-TX) and his fellow Republicans have some issues with the program, but even less partisan observers of the program recognize there are significant problems. Most recently, the U.S. Government Accountability Office identified the program as high risk and in need of reform.American Banker BankThink 
What A Bear Market In Bonds Would Actually Look Like – Jay Feuerstein, 2100 Xenon – Business Insider 


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