Fewer Home Buyers, Borrower Stupidity Guarantee, HOPE Now Stats, Customer Satisfaction, Newark, DeMarco, Below 620 FICO, Short Canadian Housing, Judicial Auctions Rise, US Dollar Rally, Renting Generation, Sober Look on ZIRP

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Can a housing market rally by sustained with fewer homeowners?OC Housing News

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(gov’t guarantee for borrower stupidity?) AARP: HUD Should Repay Reverse Mortgages for Non-Borrowing Spouses – by Alyssa Gerace – AARP is renewing its challenge against the Department of Housing and Urban Development (HUD) for failing to protect surviving spouses who are not named on a reverse mortgage loan, supporting an appeals court’s suggestion that HUD should take the loss on those loans. – Reverse Mortgage Daily 
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Hope Now: 245,000 loan mods completed in 1Q – By Kerri Ann Panchuk – … Of those completed mods, 42,157 involved borrowers who went through the government’s (HAMP). Since 2007, Hope Now has documented 6.32 million loan modifications, with more than 5 million of those mortgages handled through servicers’ proprietary programs. Another 1.2 million loans went through the government’s HAMP program over the course of the past six years. … – Housingwire
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(HOPE NOW data) Loan Mods, Short Sales Outpace Foreclosure Sales 2-to-1 in Q1 – BY: ESTHER CHO – DS News 
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Failing the Mortgage SATs – WE’RE HEARING there is a discipline that is completely lacking in the mortgage industry—we have no test to answer the most critical question that any service business can ask—“How satisfied are the customers?”National Mortgage News

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Newark’s Terrible New Foreclosure Fix Idea – Activists in the city think eminent domain can save their neighborhoods – BY DAVID DAYEN – The New Republic

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DeMarco targets two approaches for luring private capital – By Christina Mlynski – Housingwire 
1. The issuer-based approach is associated with a financial institution guaranteeing principal and interest repayment to investors.
2. In the securities-based approach — as opposed to credit risk being absorbed by the equity of the securities issuer — credit risk would be absorbed through capital markets, DeMarco stated.
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Lower credit scores disappear from housing market: Fed governor – by Brena Swanson – Originations for borrowers with credit scores below 620 mostly disappeared in recent years, eliminating low credit scores from the housing market, Elizabeth Duke, member of the Board of Governors for the Federal Reserve System, said while speaking at the Housing Policy Executive Council –Housingwire

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Canada’s Housing Market: The Next Big Short? – By: Matt Clinch – CNBC.com http://www.cnbc.com/id/100726168
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Foreclosure Filings Drop to 74-Month Low, Judicial State Auctions Rise – BY: KRISTA FRANKS BROCK – DS News 
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NAR: National Median Price Posts Greatest Increase Since 2005 – BY: TORY BARRINGER – The latest quarterly report from the National Association of Realtors (NAR) shows home purchasing power remained high in the first quarter even as median prices continued their upward trend. Nationally, the median existing single-family home price was $176,600, up 11.3 percent year-over-year—the strongest yearly price increase since the fourth quarter of 2005, … – The M Report 
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(has 6) Reasons for the latest US dollar rallySober Look Blog

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The renting generation – homeownership rate for those 35 and younger continues to decline. Overall homeownership falls in spite of rising affordability. – Dr. Housing Bubble 
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2 excellent examples of ZIRP consequences from Sober Look Blog
1. Bernanke signals the Fed is uneasy with “reaching for yield” 
2. Americans are giving up on certificates of deposit
ZIRP is Zero Interest Rate Policy at the Fed.
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