Levitin on FCs, MGIC Sub Gets OK, Death Spiral States, Servicer Complaints, Student Loans, CoreLogic and LPS, Home Sales Chart, HELOCs Reborn, Nationstar and Ocwen, 47% Normal, Leaving Britain, K&L Gates on FHA

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Where Are the Foreclosures? - posted by Adam Levitin – Bloomberg has a story Foreclosure Wave Averted as Doomsayers Defied. I think it’s a great example of defining deviancy downward. There’s no question that we haven’t seen a foreclosure tsunami in the wake of the federal-state servicing fraud settlement. But there was little reason to expect one and let’s not lose sight of the big picture–foreclosure levels are still incredibly high. - Credit Slips Blog 
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All Conditions to Freddie Mac Approval of MGIC Subsidiary Satisfied – MGIC/MIC Remain GSE Eligible – By MGIC Investment Corporation – PRNewswire – Sacramento Bee

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Do You Live In A Death Spiral State? – William Baldwin, Forbes – Don’t buy a house in a state where private sector workers are outnumbered by folks dependent on government. … Eleven states make our list … They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. … includes California, New York, Illinois and Ohio, … If your career takes you to Los Angeles or Chicago, don’t buy a house. Rent. … 
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(SPOC and complaint list) Bad habits die hard among the nation’s top mortgage servicersPhoenix Business Journal by Christopher Leone
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(lots of details) Approaching Crunch Time on the Student Loan Debacle – By Gary Jason – American Thinker

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(options analysis of CoreLogic and LPS) Post-Earnings Selling Sets Up Opportunity In Lender Processing Services – Dr. Duru – Seeking Alpha

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(gorgeous chart) New Home Sales: October 2012 - … showing a slight monthly decline with sales falling 0.3% since September but rising 17.2% above the level seen in October 2011 though remaining at an historically low level of 368K SAAR units. It’s important to recognize that the inventory of new homes appears to now be bouncing around a very low 147K units, near the lowest level seen in in at least 47 years while the median number of months for sale has improved to 5.9. – Paper Economy – A US Real Estate Bubble Blog

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(always entertaining) Neighbors stealing from neighbors: HELOCs make a comebackOC Housing News 
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BofAML: Ocwen, Nationstar may develop mortgage lending platforms – By Christina Mlynski – … could develop mortgage lending platforms in 2013-2014, a Bank of America Merrill Lynch analyst predicted in a conference call on Wednesday. … BoAML senior financial services analyst Ken Bruce predicts mortgage originations will become a “much bigger component of the earnings story for both.” … – Housingwire 
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Housing market 47% back to normal, Trulia says – Posted by mhopkins – Housingwire

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(thanks class warfare) Two-thirds of millionaires left Britain to avoid 50% tax rate – By Robert Winnett – Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50% top rate of tax, figures have disclosed. – Telegraph UK
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K&L Gates: FHA Changes to Protect Insurance Fund Come at What Cost? – by Elizabeth Ecker – K&L Gates

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