Bernanke 3 Pack, Foreclosure Review Responsibility, CFPB and Mortgage Banking, HUD and Reverse Mortgages, Steve Forbes on Fed, Purchase vs. Refi, Housing Recovery, Rent or Buy Trends, More Easing?, CA Home Sales, Eminent Domain Up Again, Non-Bank Mortgage Servicers

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BERNANKE 3 PACK:

Fed’s Bernanke sees no U.S. inflation risks: Nowotny – (Reuters) – Federal Reserve Chairman Ben Bernanke told global policymakers he sees no risk to inflation in the United States, European Central Bank Governing Council member Ewald Nowotny said on Saturday. 
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Bernanke to Skip Jackson Hole Due to Scheduling Conflict – … skipping the prestigious event for the first time since taking the helm of the central bank in 2006. … Bernanke’s absence would mark the first time in 25 years that a Fed chairman has not attended. … – Reuters – CNBC.com http://www.cnbc.com/id/100658757
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Bernanke’s decision to skip US Fed conference in August fuels speculation he’ll leave in Jan. – By Associated Press – Washington Post

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OTHER NEWS:

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Regulators Must Take Responsibility for Failed Foreclosure Review – Congresswoman Carolyn B. Maloney – American Banker BankThink

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Chuck Wells: The CFPB’s Effects On Mortgage Banking – by Phil Hall – Compliance has never been a simple task, and the new wave of rules and guidelines from the Consumer Financial Protection Bureau (CFPB) has created new challenges for mortgage bankers. To understand the CFPB’s immediate impact on the industry, MortgageOrb spoke with Chuck Wells, director of compliance and internal audit at The StoneHill Group, based in Atlanta. – MortgageOrb 
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Industry Moves to Get HUD Ability For Reverse Mortgage Program Changes – by Elizabeth Ecker – The reverse mortgage industry and the Department of Housing and Urban Development are moving quickly to get authority from Congress to make program changes after the Obama Administration’s budget showed a projected $943 million shortfall. If the authority is given, HUD would be able to make changes through Mortgagee letters rather than go through the long rule making process, which is currently the only option. – Reverse Mortgage Daily 
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The Fed: Playing Thug Politics With Banks – Steve Forbes – Forbes

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The Fed’s Bullard thinks inflation is dangerously low – By Annalyn Kurtz – CNN Money

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(purchases vs. refis) Mortgages By Homebuyers To Pass Refi Loans Mid-Year – By JAMES DETAR, INVESTOR’S BUSINESS DAILY – For the first time in more than five years, the number of loan originations for people buying a home will surpass the refinancing loans, Nomura Equity Research says, citing industry figures. Meanwhile, the total number of mortgage loans is falling. falling. … 
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3 reasons the housing recovery may not last – By Les Christie @CNNMoney

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Rent or Buy? Trends in Price to Rent Ratios Around the Country – Mike Simonsen – Altos Research
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Three Fed Presidents Say Disinflation May Prompt Easing – By Steve Matthews & Joshua Zumbrun – Bloomberg 
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DataQuick on California Home Sales: Foreclosures lowest since September 2007 – by Bill McBride – …Of the existing homes sold last month, 15.2 percent were properties that had been foreclosed on during the past year … Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 21.5 percent of the homes that resold last month.  … – Calculated Risk

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(thoughtful) The Eminent Domain of mortgages proposal is rearing it’s ugly head againOC Housing News  
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As banks get squeezed, non-bank mortgage servicers step inSober Look Blog – Politicians continue to pressure banks’ mortgage servicing businesses.

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