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(totally insane – an additional) G-fee Hike Not Part of Payroll Tax Package? – By Brian Collins – A proposal to hike guarantee fees on Fannie Mae and Freddie Mac for the second time in two months was floated Wednesday night during negotiations over a $150 billion bill that would extend the payroll tax deduction and unemployment benefits. – National Mortgage News
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Big Long Is New Big Short as Bass Joins Subprime Bet: Mortgages – By Jody Shenn and Saijel Kishan – Bloomberg
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Housing inventory declines may prove temporary - By Jon Prior – has Altos Research numbers – Housingwire
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FHA defaults up for ninth straight month – By Jon Prior – Defaults on Federal Housing Administration mortgages increased in December for the ninth-straight month. More than 711,000 FHA-backed home loans were in default at Dec. 31, nearly 19% higher a year earlier. As defaults increased, a constricted and delayed foreclosure process is hurting the government’s ability to unload the properties once they are repossessed. – Housingwire
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China’s U.S. Mortgage-Bond Buying May Be Bet on a Coming QE3, Nomura Says - By Jody Shenn – … The $9.5 billion rise reported today in China’s holdings in the debt came as the nation dumped $33 billion of long-term Treasuries, according to New York-based analysts at the Japanese bank. The category includes home-loan bonds guaranteed by Ginnie Mae and the Federal Home Loan Bank system’s unsecured notes. … – Bloomberg
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(great tutorial save this) A Hedger’s Guide To ARM Price Discovery – by Bob Gundel – MortgageOrb
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(pro principal mod article) President Obama Continues to Pressure Fannie Mae and Freddie Mac – John E. Miller – Business Insider Politix
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(interesting stats) Want More Sex Appeal? Try Homeownership – by Mike Wheatley – RealtyBizNews
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Audit Uncovers Extensive Flaws in Foreclosures – By GRETCHEN MORGENSON – An audit by San Francisco county officials of about 400 recent foreclosures there determined that almost all involved either legal violations or suspicious documentation, according to a report released Wednesday. … But the detailed and comprehensive nature of the San Francisco findings suggest how pervasive foreclosure irregularities may be across the nation. … – NY Times
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Is declining Housing Inventory a bad thing? – by SCOTT SAMBUCCI – “Geez, it’s almost there. If we could just get another 851,489 houses for sale in the market, we’ll have it juuuuuust right…” … Here’s the way I see it: It wasn’t long ago that the world was worried about millions and millions of foreclosed homes hitting the open market and crashing home prices another 30%. Now we’re worried there’s not enough supply. Huh? … – Altos Research
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What Does $448 Million Get You? A Whole Lot of CFPB – by Elizabeth Ecker – As the CFPB gets its feet wet in monitoring and enforcing consumer financial protections, it has come under examination on another front: how much it costs. – Reverse Mortgage Daily
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