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(new type of MBS) Unguaranteed Fannie bonds may yield double-digits - Approach to spread credit risk is based on Freddie multi-family securitizations -By Ronald D. Orol, MarketWatch 

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Mortgage Delinquencies Haven't Been This Bad Since The End Of 2009 - AP - ... The rate at which mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time since the last three months of 2009, according to TransUnion. The credit reporting agency said 5.88% of homeowners missed two or more payments, an early sign of possible foreclosure. That was up from 5.82% in the second quarter. The increase surprised TransUnion researchers, ... - Clusterstock at Business Insider
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40 States Show Worsening Trend in Mortgage Delinquencies; $169 Billion and Counting; Taxpayers, the True Lender of Last Resort - Michael Shedlock - For the first time in three years mortgage delinquencies on the rise. Most of my readers would not be surprised by this, but analysts were. Please consider Mortgage Payments Show Surprising Rise in Delinquencies - MISH'S Global Economic Trend Analysis   

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Rising Negative Equity Puts More Than One In Four Underwater - by Carrie Bay - After declining between the first and second quarters of this year, Zillow says negative equity rose again in the third, reclaiming all of the previous quarter's decline and then some. Zillow's latest market analysis indicates 28.6 percent of American homeowners with a mortgage owed more on the loan than their home was worth as of the end of September - DS News
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Underwater nation – Over 14 million homeowners now sit in a negative equity position. Bubble markets see faster year over year price declines. - Dr. Housing Bubble

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Chart of the day: Hours of Work Needed to Buy a Barrel of Oil - By Global Macro Monitor - Credit Writedowns - Another awesome piece of work from our friends over at The Chart Store. 

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(chart too) Wealth Chasm Between Old and Young - Let us set aside the rich bankers versus the every day person or the 1% versus the other 99%.  The true gap resides in generational wealth.   According to a Pew Research Study, older Americans were 47 times more wealthy than younger Americans in 2009 while that ratio was a modest 10 times in 1984 - Surly Trader

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Nearly 70% Want Housing Solutions from Candidates: Survey - BY: RYAN SCHUETTE – … according to a recent survey. Move, Inc. … According to the survey, some seven in 10 Americans, or roughly 70 percent, expect candidates for the presidency to address housing concerns. - The M Report
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(chart and commentary) Radar (Logic) Watching: September 2011 - by Sold at the Top - Paper Economy - A US Real Estate Bubble Blog
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BofA pays $1.3 billion to Fannie, Freddie for foreclosure delays - by JON PRIOR - Bank of America will spend at least the remainder of 2011 revising affidavit filings in foreclosure cases around the country. - Housingwire
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Amherst: RMBS Cheapest since 2008 - by JUSTIN T. HILLEY - Housingwire
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Goldman faces lawsuits over $15.8 bln in mortgages - By Lauren Tara LaCapra - Nov 9 (Reuters) - Goldman Sachs Group Inc faces lawsuits over $15.8 billion worth of mortgage securities, the bank said in a regulatory filing on Wednesday, a more than 30-fold increase from the amount disclosed three months earlier.
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Ginnie Mae Passing Freddie Mac as Second-Biggest Mortgage Funder - By Lorraine Woellert - Bloomberg Businessweek

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Covered bond legislation introduced in Senate - by JON PRIOR - ... The Hagan-Corker bill would create a regulatory and oversight framework for U.S. covered bonds and clarifies the rights of investors in case of an issuer's insolvency. The key difference with Garrett's proposal would change who could issue covered bonds and moves nonbanks to the Federal Reserve's jurisdiction. ... – Housingwire

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