Dave Stevens for President, Slow Down Mortgage Purchases, Jumbos Longer FC Timelines, 2000 More D-F Pages, QE Unwind Dangers, Zell Says Sell, Freddie Streamline Mods, Mel Watt, Freddie on Qualifying Income, Credit Quality Improves, Rentals IPO Cashouts, GSE REOs Decline, Legacy DQs, Owner Occupants Get First Crack

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David H. Stevens For President? – BY PHIL HALL – Progress in Lending 
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Fed hawks call for retreat from mortgage stimulus – By Kristen Hays and Francesca Landini – (Reuters) – A trio of hawkish regional Federal Reserve officials are calling for the U.S. central bank to stop buying mortgage-backed bonds, citing the recent improvement in the housing market 
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Report: Foreclosure Timelines Lengthen with Higher Loan Amounts – BY: KRISTA FRANKS BROCK – … This appears to be a relatively recent anomaly, according to ForeclosureRadar’s findings. … Perhaps the difference lies in the fact that more affluent homeowners have the means to tap into resources to help delay foreclosure, or that larger loans on expensive homes are more complex and take longer to disentangle,” ForeclosureRadar stated in its report. … – DS News

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(2000 more pages waters down swaps regulation?) Regulators issue more than 2,000 pages of Dodd-Frank rules – by Megan R. Wilson – The Commodity Futures Trading Commission on Thursday moved forward on more than 2,000 pages of Dodd-Frank rules. Federal regulators voted to approve regulations that aim to increase transparency around swap transactions, which trade risk from one entity to another in the estimated $700 trillion derivatives market. – The Hill 

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After Bernanke’s QE Sent Stocks To Record Highs, Will Fed Tapering Collapse The Market? – Agustino Fontevecchia, Forbes

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Sam Zell says sell – By Stephen Gandel – Fortune.com

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Freddie Mac speeds up availability of streamlined loan mods – By Kerri Ann Panchuk – … Loans also must be at least 12 months old and satisfy all eligibility criteria. … – Housingwire 
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New FHFA head pick increases odds of HARP date change – By Christina Mlynski – Housingwire 
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Freddie Mac: Financial Assets Can Be Used as Qualifying Income – BY: KRISTA FRANKS BROCK – Freddie Mac is hoping to spread information about a rule that allows people to leverage financial assets such as retirement accounts as qualifying income when applying for mortgage loans. Individual Retirement Accounts (IRAs), 401(k)s, distributions from retirement accounts, and funds acquired from the sale of a business can all contribute to a potential borrower’s qualifying income, according to Freddie Mac. – DS News

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TransUnion: Credit quality of mortgage borrowers nationwide has improved –  Study shows that at end of March, 2 percent of loans in Chicago area written in 2009 and later were delinquent – By Mary Ellen Podmolik, Chicago Tribune

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Private Equity Residential Landlords Rushing to Cash Out via IPOs – Yves Smith – Naked Capitalism 
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(nice graph) Fannie, Freddie, FHA REO inventory declines in Q1 2013 – by Bill McBride – The combined Real Estate Owned (REO) by Fannie, Freddie and the FHA declined to 189,5291 at the end of Q1 2013, down from 192,720 in Q4 2012, and down 9% from 209,077 in Q1 2012. The peak for the combined REO of the F’s was 295,307 in Q4 2010. – Calculated Risk

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(Legacy loans) 62% of delinquent loans are more than 90 days past due – OC Housing News 
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(getting a leg up on rental buyers) Owner occupants get first crack at buying Fannie, Freddie, HUD foreclosures – Kathleen Pender – .. “People looking for foreclosed homes are having to compete heavily both with investors and other owner occupants,” says Eric Will, senior REO sales director with Freddie Mac. “This gives them an opportunity to get in and compete without competition from investors.” He adds that Freddie is “getting at or above list price for most of our homes.” Potential buyers can search for homes in these programs at www.hudhomestore.com, www.homepath.com (Fannie Mae) and www.homesteps.com (Freddie Mac). … – SF Chronicle 
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