Mortgages and Housing: Servicing Conduit?, FHA Defaults, Time to Buy, Buy vs. Rent, NAHB Misses, Not Our Fault, Buffett Rule, Romney on Mortgage (IR) Deductions, Palm Beach Zombies, Lying?, Covered Bonds, Berkshire, US Bancorp Buys, TBTF Get Bigger, Annaly

BillCoppedge_26Nov2011original content selection by MortgageNewsClips.com

email signup          Receive MNC in RSS news reader          me @ LinkedIn

————

THIS JUST IN: Whole Loan Capital has formed a group of originators to pool together their origination capabilities and create close to $5 billion of high quality mortgage servicing rights. It would appear the "flow" market may indeed be back… As for MSR flow prices, lenders are sick and tired of the lousy SRPs the aggregators are paying. Two-times the servicing fee? Really… – Paul Muolo – National Mortgage News 

————
(FHA defaults) The incoming bailouts for the government mortgage complex and student debt markets – 15 percent of FHA insured loans are 30+ days delinquent. Total first mortgage market fell by $600 billion since 2007 yet government backed mortgages rose by $1.1 trillion.Dr. Housing Bubble
————
Time To Buy Houses – 3 Reasons Why 2012 Is THE Bottom – by Donna S. Robinson – Realty Biz News
————
(cool chart) Is It Really Cheaper to Buy than Rent? – by Mike Wheatley – Realty Biz News
————
Housing Repenetrates Alleged Bottom As NAHB Index Misses By Most In 22 Months – by Tyler Durden – It seems all that confident over-extrapolating of warm-weather-based foot-traffic into closed sales and a recovery in housing was, as we vociferously warned, simply wrong. … as even the NAHB is forced to admit things aren’t so rosy in home-sales-land "interest expressed by buyers in the past few months has yet to translate into expected sales activity". The NAHB Index fell for the first time in 7 months, dropped the most in 10 months and missed those glorious expectations by the most in 22 months – quite an impressive set of statistics. – Zero Hedge

————
(not our fault!) It wasn’t us – Alan Greenspan and Ben Bernanke still do not believe monetary policy bears any blame for the crisisThe Economist

————
Why The Buffett Rule Is Just A Start - By Peter G. Miller – The discussions concerning the Buffett Rule are full of points and politics but seem to miss two points: Higher taxes are a norm not an abnormality (look at past rates) and purposely shrinking the government could destroy the social contract as well as the securities we now enjoy. ... Notice what Barron’s has to say in the piece…. – Ourbroker.com
————
Romney on Mortgage (IR) Deductions - … At that same fundraiser in Palm Beach, Florida, NBC News and the Wall Street Journal reported that Romney said he is considering the elimination of mortgage deductions on second homes as part of the tax exemptions he would propose ending. … At the gathering, Romney also floated the idea of eliminating the Department of Housing and Urban Development, the Cabinet-level agency once headed by his father, George. … – Bloomberg

————
The zombie files: Nearly 7,000 stagnating foreclosure cases lie dormant in Palm Beach County’s courts – ARE YOU AFFECTED? – By KIMBERLY MILLER – Palm Beach Post

————
Mortgage Settlement Enforcement Monitor Claims Bank Leaders Are Lying to Him – Matt Stoller – Naked Capitalism

————
Covered Bonds in Dollars Soar to Fill AAA Vacuum – By Esteban Duarte and Jody Shenn – Sales of covered bonds in dollars are surging to a record as investors snap up the secured bank notes amid a drop in supply of AAA rated alternatives, benefiting lenders from Bank of Nova Scotia to UBS AG. – Bloomberg
————
(Berkshire priced in gold) The Three Ways ‘Old Money’ Holds on to Its Riches – By JAMES RICKARDS – … In contrast, Buffett’s Berkshire Hathaway stock when priced not in dollars but in ounces of gold has declined in value by about 75 percent since 2000 from 280 ounces per share to 70 ounces per share. Put differently, someone who bought gold rather than Berkshire in 2000 could today buy four times as much Berkshire stock using the same gold.  …US News

————
(buy Mortimer, buy) U.S. Bancorp Jumps on ‘Once in a Lifetime’ Servicing Chance - By Laura Marcinek – …  “We see a market shift you only get once in a lifetime, and intend to enjoy it now,” Chief Executive Officer Richard Davis said today in a conference call. “Because the market, the dynamics have changed, we’ll continue to enjoy even greater growth than maybe we might’ve thought.” – Bloomberg Businessweek
————
Guest Post: Giant Banks Now 30% Bigger than When Dodd-Frank Financial “Reform” Law Was Passed - by Washington’s Blog – Size of Banks Killing Economy … But Giant Banks Have Only Gotten Bigger Since Financial “Reform” Enacted – Naked Capitalism

and
How Shape-Shifting Banks Foil Dodd-Frank Act – By Thomas Cooley and Kim Schoenholtz – Bloomberg

————
Annaly: Expect Fat Dividend Checks Into 2013 – by ValueMax – Seeking Alpha

————

For Rob Chrisman’s latest daily post, click here.

To subscribe to Joe Garrett’s news letter, send an email to  jgarrett at garrettmcauley dot  com

About these ads

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s