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Fannie Mae: Market Will Take Five More Years to Adjust - BY: KRISTA FRANKS - “We are five years through a 10-year adjustment process,” said Fannie Mae chief economist Doug Duncan at the Five Star MPact Mortgage Banking Conference and Expo Tuesday morning. Dodd-Frank has 300 rules that must be implemented in the market. Half of these have been implemented, and the second half will be enacted over the next couple years. The secondary market will not start to see regulatory changes until these rules are set in place, and it will take a couple years to implement these changes as well - DS News
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The Reverse Mortgage King is Overthrown, Long Live MetLife? - by Alyssa Gerace - Wells Fargo officially lost its top spot for retail and wholesale endorsement volume in October and was overtaken by MetLife, who had 1,011 total endorsements compared to Wells’ 789, according to Reverse Market Insight’s HECM Originators newsletter for October 2011. While MetLife didn’t quite surpass the former reverse mortgage lender’s retail volume, it is expected to do so in November, says RMI. -  Reverse mortgage Daily

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Lawler on "Real Estate Investors, the Leverage Cycle, and the Housing Crisis" - by CalculatedRisk - CR Note: The following is a long discussion by Tom Lawler of the recent Fed paper looking at the role of real estate "investors" (really speculators) during the housing bubble. Lawler cautions about drawing quick conclusions from the graphs.

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Connecticut Supreme Court upholds MERS standing as nominee of mortgage - by KERRI PANCHUK - The Mortgage Electronic Registration Systems has standing to foreclosure when MERS is clearly named as the nominee for the original lender, the Connecticut Supreme Court said this week. - Housingwire
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2012 mortgage delinquencies seen dropping sharply - By Eileen Aj Connelly - If the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year, according to credit reporting agency TransUnion. Mortgage delinquency rates — the ratio of borrowers 60 or more days behind on their payments — will likely tick up to about 6% through the first three months of 2012, ... But by the end of next year, it could drop to 5%, TransUnion said. ... - USA Today

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House bill proposes 1-year limit on foreclosure deficiencies - by ANDREW SCOGGIN - A bill introduced in the U.S. House of Representatives would limit the time frame for deficiency judgments against single-family homes and give protection to low-income households. House Resolution 3566, also known as the Fairness in Foreclosures Act of 2011, would put a one-year limit on any judgment except in states that have shorter restrictions. Existing law would take precedence in those states. – Housingwire

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BARCLAYS: The Most Important Trend In Housing Is Signaling A Recovery And No One Is Talking About It - Sam Ro - Business Insider
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Republican Proposes New Corporation to Replace Fannie, Freddie - By NICK TIMIRAOS - A Georgia Republican is set to introduce on Thursday a bill that would replace Fannie Mae and Freddie Mac with a government-owned corporation that could one day be sold off to the private sector. The proposal from Sen. Johnny Isakson, a former Realtor, is the latest in a series of competing measures to address the fate of the mortgage-finance giants whose government takeover has cost taxpayers $151 billion. - Wall Street Journal

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(servicer advances, foreclosure, litigation, more) Michael Olenick: Bank of America All In – Calling Moynihan’s Bluff to Bankrupt Countrywide - Yves Smith - Yves here. As the headline indicates, the steps taken Bank of America that Michael Olenick describes in this article call into question the idea that Bank of America can shield itself by putting Countrywide into bankruptcy - Naked Capitalism
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QRM Definition Is 'Deeply Flawed,' MBA Says - BY MORTGAGEORB.COM - ... In written testimony prepared for delivery before a House Financial Services subcommittee today, MBA President and CEO David Stevens said that although it is still premature to call for repealing the QRM, “that day may not be far away.” “Regrettably, the proposed rule, with its QRM definition and creation of a premium capture cash reserve account, is so deeply flawed that we seriously question whether it reflects congressional intent or can ever be successfully implemented,” Stevens wrote ahead of the hearing. ... - MortgageOrb
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Delinquent mortgage squatting time sets new record - by IrvineRenter - Irvine Housing Blog

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Bankrate: Jumbo Mortgage Rates Hit New Record Low - By Bankrate, Inc.- PRNewswire - The jumbo 30-year fixed mortgage rate fell to a new record low of 4.68 percent, according to Bankrate.com's weekly national survey. The average jumbo 30-year fixed mortgage has an average of 0.4 discount and origination points. - Sacramento Bee

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