Flippers in FL, Pocket Listings, FNMA Default Tool, Homebuilding Employment, Home Price Climb, CA Shakedown, Burbank Flipper Study, , National Housing Finance Commission, On 620 and 680 FICO, On Risk Sharing, Untapped Reverse Mortgages, Lobbying Primer, Protecting Service Members, When Investors Go Away

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Flippers playing role in South Florida’s housing recovery – Flipping homes making a comeback in Florida – By Paul Owers, Sun Sentinel – Home flippers got a bad name during the housing boom. They sold properties for big profits in days or weeks, and the rapid price appreciation created a frenzy that led to the eventual bust. But today’s flippers are getting credit for helping the market recover. They’re taking time to add value, sprucing up the landscaping and putting in new floors and appliances.   
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Private sales of homes, known as ‘pocket listings,’ are surging – By Kenneth R. Harney – Top brokers in some highly competitive markets say pocket listings are becoming a significant factor in the business. – LA Times

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Fannie Mae Launches New Servicing Management Default Underwriter ToolFannie Mae has introduced its Servicing Management Default Underwriter (SMDU), a tool to help mortgage servicers work faster and more consistently with homeowners to prevent foreclosure.  This technology, a counterpart to Fannie Mae’s Desktop Underwriter for mortgage originations, breaks new ground by evaluating a homeowner’s financial situation and determining what options are available to prevent foreclosure. – more – National Mortgage Professional 
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Report: Homebuilding Employment Unlikely to Return to Boom Levels – BY: TORY BARRINGER – While Fannie Mae’s Economic and Strategic Research (ESR) Group … In the latest in its Transition to “Normal” series, … Even though housing starts are expected to double over the next four years as the recovery brings us back to even keel, the group is doubtful that employment in the industry will see the same rebound. …The M Report

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Home Prices Are Climbing At The Fastest Pace Since March 2006 – Mamta Badkar – Nationwide home prices including distressed sales were up 10.5% year-over-year in March, according to CoreLogic’s latest home price report. On a monthly basis home prices were up 1.9%. This was the thirteenth straight monthly rise, and the fastest pace of increase since March 2006. Ex-distressed sales, home prices were up 10.7% year-over-year and 2.4% on the month – Business Insider  
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(shakedown) California Homeowner Bill of Rights blocks BofA foreclosure – By Kerri Ann Panchuk – A California man successfully halted a foreclosure sale on his property using the newly minted California Homeowner Bill of Rights to obtain a court injunction … For simply obtaining the HBOR injunction, the homeowner’s attorney is requesting $20,255 in legal fees and costs – a compensation request that is permissible under HBOR since the legislation allots borrowers reasonable attorneys fees and expenses for successfully obtaining an injunction. … – Housingwire 
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The last to the party: Investors and flippers competing for small amount of inventory. Home prices increasing at fastest rate since 2006. A case analysis of a Burbank investment property. – Dr. Housing Bubble

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Help the Fed Get Out of the Mortgage Business – Veteran Washington banking lawyer Jeremiah Buckley makes the case for a national housing finance commission. Such a body would serve as a “credible, galvanizing force to start the process in motion” of creating a new housing finance system that would not depend on the Fed’s swelling balance sheet. – American Banker Bankthink

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(on 620 and 680 FICO) Loan officers, banks tighten FICO standards – By Brena Swanson  – HousingWire 
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(on risk sharing and more) mREITs could boost the secondary market -by Christina Mlynski – Housingwire
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Ocwen: Untapped Reverse Mortgages Could be $1.9 Trillion Market – by Elizabeth Ecker – Upon reporting record quarterly earnings this month that more than doubled first quarter earnings in 2012, mortgage giant Ocwen Financial (NYSE: OCN) noted more reverse mortgage opportunity is still on the horizon. – Reverse Mortgage Daily

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A Legislative Lobbying Primer – by Phil HallMortgageOrb

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Lawmakers draft bill to extend foreclosure protections to more soldiersHousingwire – …  introduced a bill Tuesday that would extend foreclosure protections to servicemembers who acquired homes after entering active duty. … rolled out H.R. 1842 – the Military Family Home Protection Act –on Tuesday. The bill picks up where the longstanding Servicemembers Civil Relief Act leaves off. – more details

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What Happens When The Investors Go? – BY MIKE WHEATLEY – Realty Biz News

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