Walking Away? - State by State Chart -  Richmond Fed on the GSE’s – “They Encourage Defaults” - Submitted by Bruce Krasting - ... The report includes a State-by-State breakdown of the rules for defaulting. - ...“I owe this mortgage to the Feds. Even though they have the right to go after my bank account to pay this off I know they will not. So screw them, I‘m not paying. There is no downside”.  ... - Zero Hedge Blog

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Property Values Set to Fall 43% From Current Depressed Level - Michael White - NewObservations.net 
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Read this - Improving Business Operations With A Mortgage Audit - details on auditing existing securities and originators - interesting - MortgageOrb

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Triples! - Fannie Mae Aug delinquencies jump; Sept portfolio grew - ... The delinquency rate on loans in its single-family guarantee business rose 0.28 percentage point to 4.45 percent in August, the most recent data available. That was well above the rate a year earlier when it was 1.57 percent. ... Fannie Mae mortgage-backed securities and other guarantees grew at a compound annualized rate of 6.9 percent during the month to $2.821 trillion, for an annualized 10.8 percent increase year to date. ... - Reuters

and
z1       Fannie Mae Seriously Delinquent Rate Hockeysticks to 4.45% From 1.57% In Prior Year - Submitted by Tyler Durden - Zero Hedge

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Buying A Foreclosed Home - Asher Hawkins - Year-end deals will abound for smart shoppers. - Thinking of buying a home? Act before year's end and you just might be able to make the most of the glut of foreclosed properties currently up for sale. That's because, while banks traditionally have been unwilling to come down on the list prices of foreclosed properties, a year-end push to clear their books of foreclosure backlogs could be a boon for haggle-happy homebuyers. - Forbes

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Foreclosures Growing in Suburbs and Secondary, says RealtyTrac - By JON PRIOR - Foreclosures are beginning to flare up in suburban and secondary metro markets for Q309, according to a report from RealtyTrac ... In several states, foreclosure activities drifted toward new focal points, such as smaller towns with previously self-sustaining industries ... - HousingWire 

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Harney: Overhaul of home appraisal code - By Kenneth R. Harney - Could the controversial appraisal system imposed nationwide by mortgage giants Fannie Mae and Freddie Mac in May — and now tied to lowball property valuations, busted home sale transactions and higher fees to consumers — be on its way out? It just might be. ... Though virtually no one disagrees with the goal of appraiser independence, critics say the code went overboard and created its own set of problem .... - Silicon Valley Mercury News 

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MBA study: Bankers and their subsidiaries continue to see production profits- Independent mortgage bankers and subsidiaries made an average profit of $1,358 on each loan they originated in the second quarter of 2009, according to the Mortgage Bankers Association (MBA) - National Mortgage Professional