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(Q&A) How Does The Dodd-Frank Act Impact The Appraisal Process? - BY BEATRICE ZAGORSKI - ... As of Oct. 15, 2010, the HVCC was out, and the appraiser independence requirements (AIRs) were in. ... The act went even further by stating that appraisers must be paid a "customary and reasonable rate" for the market area in which the appraisal has been ordered. The goal of the Dodd-Frank Act was to establish legally acceptable behavior for appraisers and lenders. Its wording in some places, however, has created confusion that has fueled rumors and misinformation. The following are some common questions about the legislation as it relates to appraisals. ... - has Q&A - MortgageOrb

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(2 charts - G*d help us when rates go up) The Incredible Power Of Ultra-Low Interest Rates - Joe Weisenthal - Money Game at Business Insider
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(the plot thickens - mentions FHFA lawsuit) Cook County passes vacant building ordinance similar to Chicago's - By Mary Ellen Podmolik - Chicago Tribune - The Cook County Board on Wednesday passed a vacant building ordinance that largely mirrors one adopted by the city of Chicago and now the subject of a federal lawsuit. ... A similar ordinance, with some tweaks and a $500 property registration fee, was passed by the Chicago City Council last month. Monday, the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, filed a federal lawsuit against the city, charging that the city's rules encroach on its role as the sole regulator and supervisor of Fannie and Freddie, which own about 258,000 mortgages within the city of Chicago. ... http://www.chicagotribune.com/business/breaking/chi-cook-county-passes-vacant-building-ordinance-similar-to-chicagos-20111214,0,6571328.story
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FBI Estimates 80% of Mortgage Fraud Involved Industry Insiders -   By Washingtons Blog - Fraud By The Big Banks – More Than Anything Done By The Little Guy – Caused The Financial Crisis

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FHFA REO Asset Disposition & Rental Strategy - by SCOTT SAMBUCCI - ... In August 2011, the (FHFA) offered its “Request for Information” (RFI) for REO Asset Disposition including a transition to a rental-based solution, soliciting ideas from the private sector, academia, and research groups on the handling of the existing REO inventory.  From the August release: ... Two weeks ago, the FHFA posted a summary – FHFA REO Initiative: RFI Response Summary. A couple of the solutions offered by the respondents: (has 3) ... The timing could be better for Altos Research – we’ve just launched our Rental Intel products – real-time rental market analytics and listings.  [Author acknowledges shameless plug]  - Altos Research 

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Moody’s Expects Strong 14% Rebound in US Housing Prices by 2015 - by Research Recap - Moody’s Analytics’ US house price outlook calls for a strong rebound once the housing market bottoms next year. A stronger economy, the gradual clearing of foreclosure inventory, and the fact the correction overshot its mark will help spark the turnaround, Moody’s says in its latest ResiLandscape newsletter.
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Michael Olenick: NAR’s Big Miss on Home Sales Underscores Lack of Transparency and Accuracy in Mortgage/Housing Data -  By Michael Olenick, founder and CEO of Legalprise, and creator of FindtheFraud, a crowd sourced foreclosure document review system (still in alpha) - Naked Capitalism

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The next 4 posts are from Housingwire.

(lots of items) Congress still dark on housing finance future - by JON PRIOR - Nearly 10 months since the Treasury Department provided three options for a future housing finance system, Congress is still no closer to any reform. A House subcommittee debated a proposal Wednesday from its chair, Rep. Scott Garrett, R-N.J., that directs the Federal Housing Finance Agency to set rules and regulations on a completely private mortgage securitization system. It is unclear when an actual vote on the bill will be taken. - Housingwire
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Congress Questions Impartiality of Independent Foreclosure Reviews - BY: KRISTA FRANKS - ... When asked if many of the approved consultants have worked with the servicers previously, Williams admitted that some had. “There are a number of situations where they have done previous work for the servicers in different areas, generally, but they have had previous business engagements with those servicers.” “This raises questions about the true independence of these organizations,” Sen. Jack Reed (D-Rhode Island) stated ... - Housingwire
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Freddie Mac Mandates Servicer Participation in State Mortgage Programs - BY: CARRIE BAY     - Freddie Mac has notified servicers that they are required to take part in mortgage assistance programs offered by state Housing Finance Agencies (HFAs) in connection with the federal government’s Hardest Hit Fund initiative. “[E]ffective immediately, you must begin accepting modification assistance program funds from participating HFAs on behalf of eligible borrowers with Freddie Mac-owned or guaranteed mortgages,” the McLean, Virginia-based GSE wrote in a bulletin update sent to its mortgage servicers on Tuesday. - Housingwire
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RealtyTrac reports 14% dip in foreclosures, but new wave expected - by KERRI PANCHUK - Housingwire

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(good read in the wake of MF Global) The ABCs of Re-hypothecation in Gold and Securities Markets: What You Need to Know - Kevin Brekke - Casey Research

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Is 2012 the Year FHA’s Reverse Mortgage Program Grows Up? - by John Yedinak - Reverse Mortgage Daily 
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Valuations and Sales Discounts Eat Away at Foreclosure Proceeds - BY: CARRIE BAY - ... according to Moody’s Investors Service.  ... They maintain that loss projections based solely on average home prices substantially underestimate a foreclosed property’s actual loss severity. “Our analysis shows that liquidated properties are subject to discounts on their valuation and price that, on average, lead to selling prices that are about 30 percent lower than average home values,” Moody’s said. ... - more data - DS News
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