Mortgage Migration to the Fed, Sequester Hurts HUD, Freddie Grows, Condo Horror Stories, PIMCO on Housing, CFPB LO Comp, Vella on Servicing, Regulatory Burden, FNMA Sees Positive Equity, Bank Zombie Title, Downpayment Rules

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(must read – on mortgage lending and its migration to the Fed) A slowdown in US lending or a ramp up in shadow banking?Sober Look Blog
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Sequester creates cracks in HUD’s structure – By Christina Mlynski – Housingwire 
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(academic hates rentals) How to Fix the Great Real Estate After-Bubble – Mary Manning Cleveland – Huffington Post
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Freddie Mac Sees March Business Grow – BY: TORY BARRINGER – Freddie Mac’s total mortgage portfolio grew in March for the first time this year, according to the GSE’s monthly volume summary. The portfolio experienced growth at an annualized rate of 4.0 percent in March, a turnaround from the 4.1 percent and 4.8 percent contraction seen in February and January, respectively. Freddie Mac reported about $52.0 billion in purchases and issuances—up more than $9 billion over February—and nearly $45.5 billion in sales and liquidations.The M Report  
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(Condo Association liens horror stories) You Pay, You Stay – By John McDermott – National Mortgage News
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Federal Reserve Has Fueled Housing Rebound, Pimco’s Cudzil Says – By Jody Shenn & Tom Keene – The Federal Reserve’s debt buying has helped housing both by holding down borrowing costs for home buyers and pushing investors to purchase properties instead of bonds, Pacific Investment Management Co.’s Michael Cudzil said – Bloomberg 
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K&L Gates Legal Insight CFPB Solidifies Loan Originator Compensation Restrictions, Dumps Zero-Zero Requirement – by Melanie Brody, Jonathan D. Jaffe, Kristie D. Kully, Eric Mitzenmacher
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(the next few years) John Vella Considers The Servicing Industry – by Phil Hall – MortgageOrb 
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(points to survey) Originators Cite Regulatory Burden As Biggest Industry Challenge – … according to the 3rd Annual Survey of Originator Opinions, conducted by Mission Viejo, Calif.-based Hammerhouse LLC. … – by MortgageOrb.com

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Fannie Economists Project 1.8M Borrowers Could Regain Equity in 2013 – BY: CARRIE BAY – … In a new commentary piece entitled “Down But Not Out: Many Underwater Borrowers Will Likely Regain Buoyancy This Year,”  … – DS News

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Commentary: DeMarco Disappoints with New Streamlined Mod Program – BY: GUEST CONTRIBUTOR: DAREN BLOMQUIST – … The new government initiative is in some ways commendable: … Unfortunately, the FHFA program misses the mark. What FHFA is proposing would not attract any sober investor were it not for the guarantees that will be provided by Fannie Mae and Freddie Mac, guarantees that should not be given in this case. … – DS News 
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Bank “Zombie Title” Rises, Hurting Communities and Borrowers, as OCC and Fed Sit Pat – Yves Smith – Naked Capitalism
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Down Payment Rules Are at Heart of Mortgage Debate – BY PETER EAVIS – NY Times Dealbook 
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