DeMarco to Stay?, Mortgage Rate Chart, Price-To-Rent Ratio, Jumbo Fixed Rate, REO Firm Becomes Originator, Retiree Home Loans, Flagstar Sells MSRs?, Freddie Mod Bonds, Millennials Live Downtown, No Equity No Sell, Ability to Repay, Ellington Adds Originations, New FHA Watch, CA Geo Risk


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Fortunately, FHFA’s Ed DeMarco Isn’t Going AnywhereOC Housing News 
(look at chart) Have You Seen Mortgage Rates Lately? – Joe Weisenthal – Did you just blow a once-in-a-generation chance to buy a home? – Business Insider

(4 CHARTS TOO) Real House Prices, Price-to-Rent Ratio, City Prices relative to 2000 – by Bill McBride – Case-Shiller, CoreLogic and others report nominal house prices, and it is also useful to look at house prices in real terms (adjusted for inflation) and as a price-to-rent ratio. – Calculated Risk 

Fixed-Rate Jumbo Mortgages Make a Comeback – By ANYA MARTIN – Wall Street Journal

A sign of the times? New Vista Asset Management shifts focus to originations – By Kerri Ann Panchuk – Expect big changes at New Vista Asset Management as the San Diego-based REO asset management firm shifts its focus from default services to originations. – Housingwire 
Mortgage giants make it easier for retirees to secure loans – By Kenneth R. Harney – Here’s a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren’t sufficient to qualify for a mortgage under today’s tough underwriting standards: Thanks to a rule change by the largest players in the home loan business, you may be able to use imputed income from your 401(k), IRA and other retirement assets to qualify for the loan you want. That, in turn, might open the door to a money-saving refinancing to a lower-rate loan or a downsizing purchase of a new house or condo – Washington Post

Flagstar Said to Weigh Sale of Mortgage-Servicing Rights – By Matthew Monks & Jody Shenn – Flagstar Bancorp Inc. (FBC), the Michigan lender rescued by MatlinPatterson Global Advisers LLC in 2009, is considering a sale of the collection rights on more than $70 billion in mortgages, people with knowledge of the matter said.Bloomberg

Freddie Mac Begins Creating Bonds Backed by Modified Mortgages – By Jody Shenn – Bloomberg 
(wanna live downtown) Will “Millenials” Change the Landscape of US Real Estate? – BY MIKE WHEATLEY – Realty Biz News 
Home Supply Limited by Americans Lacking Equity to Sell – By Prashant Gopal – … The people who cannot sell are contributing to a dearth of home inventory on the market, which is restraining deals in the key U.S. spring selling season.  … – Bloomberg

(ability to Repay and Qualified Mortgage Rule) Was Chicken Little an Optimist? – by Jonathan D. Jaffe, Kristie D. Kully, David A. Tallman, Andrew L. Caplan, Eric Mitzenmacher – … As we describe in this Client Alert, the Final Rule will almost certainly result in fewer borrowers qualifying for mortgages, and will likely result in higher interest rates for many who do qualify. …K&L Gates

Ellington Management Group hires executive to lead growing originations space – Steven Abreu joins Ellington Management Group as head of mortgage originations to launch the company’s new mortgage originations business. – Housingwire 
(new issue pdf download) FHA Watch Vol. 2, No. 5, May 2013 – Edward J. Pinto
1. Continuing the Nightmare at FHA – The National Association of Realtors Calls for Unsustainable FHA Lending
2. Spotlight on Insolvency – FHA’s Estimated GAAP Net Worth Equals –$27.36 Billion, with a Capital Shortfall of $47–67 Billion
3. Spotlight on Delinquency  – Overall Rate Declines to 14.68 Percent
4. Spotlight on Best Price Execution – FHA, VA, and USDA’s Pricing Dominance Increase
5. Spotlight on FHA’s Mission Misfires – Forty Percent of Recent Government-Guaranteed Modified Loans Redefault within 12 Months
6. End the Nightmare at FHA – Common-Sense Reform of the FHA Is Urgently Needed
(46% CA other stats) Latest JPMorgan Chase RMBS deal carries geographical risk – By Christina Mlynski – Housingwire


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