On FHA, Freddie Shrinking?, Mortgage Cube Farm, House Prices (2), Subservicer Compliance, Landlords, Banks Fight Back, GSE FC Prevention, RealtyTrac Foreclosure Inventory Analysis, Pending Sales Slip

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(charts and commentary) FHA loan guarantees now amount to $1.1 trillion: Upcoming changes to FHA mortgage insurance premiums and the cost of low down payment loans. – Dr. Housing Bubble

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Business Continues to Slip at Freddie Mac – BY: TORY BARRINGER – Business Insider
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(on headcount and performance) Keeping Them Down On the Cube Farm – By Garth Graham – WE’RE HEARING that in 2012 the industry experienced a better-than-expected year, buoyed by very high revenue per loan. These high margins have outpaced the higher costs associated with producing a loan, and companies are feeling pretty good overall. – National Mortgage News

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Analysts increase 2013 house price forecasts – by Bill McBride – Calculated Risk

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GUNDLACH: The Southern California Housing Market Hasn’t Been This Crazy Since The ’80s – Sam Ro – Business Insider 
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Subservicers Work To Remain In Step With Industry Changes – by Phil Hall – MortgageOrb – … “It requires subservicers to maintain the same standards as servicers,” he says, adding that this new level of scrutiny comes with a price. “ Subservicers may not have the balance sheet to support such changes.” … Annemaria Allen, president and CEO at The Compliance Group, based in San Marcos, Calif., points out that subservicers that are now subject to California’s new Homeowner Bill of Rights also run the risk of being forced to shell out large amounts of money …

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Investors Pile Into Housing, This Time as Landlords – By Nick Timiraos – WSJ – Yahoo News

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(banks fight this tooth and nail) Banks Seek to Overturn Judge’s Ruling in Critical Mortgage Case – By JESSICA SILVER-GREENBERG – New York Times – … In 2011, the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, accused the banks of duping the housing giants into buying $200 billion of mortgage securities that ultimately imploded during the financial crisis. On Wall Street, the lawsuit is considered a critical litmus test for how successful the banks will be in stanching their losses from the mortgage litigation. The banks have been aggressively trying to thwart the lawsuit. In November, Judge Cote denied requests by the banks to toss out the lawsuit altogether. … – Yahoo Finance

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GSEs Complete 541K Foreclosure Prevention Actions in 2012 – BY: KRISTA FRANKS BROCK – … contributing to a total of 2.7 million foreclosure prevention efforts since the enterprises came under government conservatorship in 2008, according to the report. More than 1.3 million of these actions have taken the form of permanent loan modifications … – DS News

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RealtyTrac: Foreclosure activity rising in 2013 – By Megan Hopkins – In its first-ever U.S. Foreclosure Inventory Analysis, RealtyTrac revealed that 1.5 million U.S. properties were actively in the foreclosure process or bank-owned in the first quarter of 2013. This number was up 9% from the first quarter of 2012, but still down 32% from 2.2 million in December 2010, which represents the peak. – Housingwire

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Pending Home Sales Slip for 3rd Time in 4 Months – BY: MARK LIEBERMAN – The National Association of Realtors’ (NAR) Pending Home Sales Index (PHSI) fell 0.4 percent to 104.8 in January, the third month-over-month decline in the last four months, the association reported Wednesday. – The M Report

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