Great STACR Reference, Taper Based on Next Unemployment Number, Foreign National Loans, FNMA Portfolio Shrinking, Interactive Home Price Map, 2 From Richmond CA, Case Shiller Double Digit Gain, OIG on Borrower Outreach, El-Erian on Taper, MBA on QRM, 11 Geographic Differences, GSEs dump FC Law Firms

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(save this link – great STACR reference) Freddie Mac takes the first step in transferring mortgage default risk to the private sectorSober Look Blog

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Fed’s Fisher says stimulus tapering should begin this fall – By Jim Puzzanghera – LA Times 
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(The August jobs report. ) MORGAN STANLEY: The Fed’s Decision To Taper In September Is Now Dependent On A Single Data Release – MATTHEW BOESLER    – Business Insider

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Foreign (homebuyer) investors carry unique risks – DBRS wants lenders aware of challenges – Jacob Gaffney – Housingwire 
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Fannie Mae mortgage portfolio continues to shrinkHousingwire – Fannie Mae’s mortgage portfolio continued to shrink, reaching a compound annualized rate of 18.4% in June, according to the government-sponsored enterprise’s monthly summary. 
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(Gotta see map) Watch American Home Prices Go From Hot To Cold To Hot Again In 9 Years [GIF] – ROB WILE AND WILLIAM WEI – Business Insider
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(typical populist rhetoric – no one will lend there in the future) California Mayor Attacks Lender ‘Greed’ With Eminent Domain Bid – By Michael B. Marois – Bloomberg Businessweek

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(Corruption at Richmond, CA) If I Bribe City Hall, Can I Reduce My Mortgage? – By Jonathan Weil – Richmond, California, sent the securities and real estate industries into a tizzy this week. The city said it is moving ahead with plans to use its power of eminent domain to seize home mortgages and restructure them for residents who owe more money than their homes are worth. – Bloomberg
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Case-Shiller Detects First Double-Digit Price Gain in 7 Years – BY: KRISTA FRANKS BROCK – The M Report 
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FHFA OIG: Borrower Outreach Critical to HARP’s Success – BY: ESTHER CHO     – Undoubtedly, broadening eligibility for (HARP) has allowed more borrowers to benefit from the program. However, HARP rules aren’t the only obstacles stunting refinance volume. A report from the Federal Housing Finance Agency Office of Inspector General (FHFA OIG) found a lack of borrower education is also a critical barrier to the program. – DS News 
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Fed tapering will be for wrong reason: El-Erian – By: Matthew J. Belvedere – CNBC

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Bernanke’s Gift – Tempering the Taper Tantrum – By: Michael_J_Kosares – The Market Oracle 
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A new QRM standard is just what the MBA ordered…but will it happen? – Kerri Ann Panchuk – ReWired at Housingwire 
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(11 geos mentioned) Huge Geographic DifferencesJohn Burns RE Consulting – The US housing market can no longer be painted with one brush, as the housing recovery is playing out very differently across the country. Here are some anecdotes gleaned from our consulting team …
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Fannie Mae and Freddie Mac Dump Their Foreclosure Barons — for Good — By Andy Kroll – … Most notably, Fannie and Freddie’s regulator announced (PDF) on Tuesday that the twins would soon shut down their network of high-powered foreclosure law firms around the country. These firms, paid to process foreclosures as fast and cheaply as possible, ran into trouble in recent years when some of these outfits were found to have backdated key legal documents and falsified signatures on affidavits. … – Mother Jones

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