QE Infinity, Specified Pool MBS, FHA Avoid Bailout?, FHA = Subprime?, Gaming FHA, CFPB and FHFA Database, Trusting the Government, FED Has To, LO Investor Transparency, 15 Best Places, Zillow Grows, TCW Joins ‘Em, Forced Placed Insurance

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(huge story to me – QE infinity – the Fed can never sell the bonds they are buying) Time For Bernanke To Retract His Sworn Testimony To Congress – Submitted by Tyler Durden –  Zero Hedge

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(specified pool MBS) My December 2012 Column in Asset Securitization Report – Bill Berliner – … With the Fed buying virtually all net MBS production, however, I expect MBS prices to remain at elevated levels, further stoking demand for the prepayment protection offered by specified pools. … Pools backed by loans originated in judicial states, in particular, … Fixed Income Color

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(3 reasons) The FHA may not need a bailout after allSober Look Blog – … The agency simply hasn’t been charging enough for insurance on the extremely low down-payment (almost 30x leverage) mortgages it guarantees … But a recent report from Barclays suggests that it may not have to. … 
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(interesting math) FHA = subprime, 12.4% interest cost of FHA insurance, 50% risk premiumOC Housing News 
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How to game the system with FHA loans for maximum advantageOC Housing News

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The New Housing Database That Could Invade Your Privacy – By STEVE YODER, The Fiscal Times …  A new national mortgage database being launched next year by the Federal Housing Finance Agency (FHFA) and Consumer Financial Protection Bureau (CFPB) will house detailed information about the country’s mortgages—at a minimum, this will include each borrower’s financial and credit profile, the terms of the loan, information about the property, and the loan’s payment history.  … 

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(on trusting banks and government) Spain About to Whack Hapless Smaller Savers Conned into Buying Bank Preference Shares as a Condition of its Bank Rescue – Yves Smith – Yves here. We’ve flagged in earlier posts how the Spanish banking crisis had the potential to become destabilizing politically, as if Spain wasn’t already at considerable risk of upheaval. Spanish depositors were pushed to convert their deposits into preference shares, which they were told were just as safe. That of course was never true. – Naked Capitalism

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(painted in a corner – they have to) Fed Stimulus Likely in 2013 – By JON HILSENRATH – Bond Buying Is Expected to Continue in Effort to Spur Slow-Growing Economy. – Wall Street Journal 
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Building Investor Risk Transparency Into Loan Originations - by Rob Pommier – What is the key to accurate secondary market pricing? For many people, the answer is the combination of risk transparency and data accuracy. – MortgageOrb

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The 15 Best Housing Markets For The Next Five Years – Mamta Badkar – Business Insider

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(rentals strengthened) Zillow Acquires HotPads for $16 Million – by Phil Butler – Realty Biz News 
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(resistance is futile) TCW in Mortgage Reversal as Fighting Fed Futile: Credit Markets – Jody Shenn – Bloomberg Washington Post 
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(anchor member) Zurich to Return to Force-Placed Market Under Fannie Mae Plan: Sources – Jeff Horwitz – … anchor member in a consortium of insurers that Fannie Mae has lined up to write policies on its portfolio at 30 percent to 40 percent discounts to existing premiums, these people said. The discounts would slash the insurance premiums on Fannie’s portfolio by hundreds of millions of dollars. …Insurance Networking News

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