Bob McTeer, Reverse Changes, 924 sf = $1.9mm, Social Media and Markets, Improving Home Markets, Rentals, Dynamic Foreclosure, OIG on GSE Pay, More Americans Confident, Stop GSE Piggy Bank, New FHA Mortgagee Letter

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(Fed should wait it out) As Washington Barrels Toward Fiscal Cliff, FOMC Should Freeze - Bob McTeer – Well, it looks like our leaders have chosen not to put a fence at the top of the fiscal cliff, but to count on an ambulance at the bottom to clean up the mess.  – Forbes 
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(congressional ok needed) HUD: Reverse Mortgage Program Changes Coming Early 2013 – by Elizabeth Ecker – … The agency prefers to make “refined” changes that would limit the amount borrowers can withdraw upfront, implement a financial assessment, and possibly establish some type of escrow account. … – Reverse Mortgage Daily 
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(924 sq. feet) Rock Legend Lists Newport Beach Home for $1.895M – BY: ABBY GREGORY – The M Report 
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(social media will make a loss of confidence happen even faster than 2008) “The Shape Of The Next Crisis” – A Preview By Elliott’s Paul Singer – Submitted by Tyler Durden – Zero Hedge 
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List of Improving Markets Surges to 201 in December – BY: TORY BARRINGER – … observed by the (NAHB) skyrocketed in December, according to a release from the group. The NAHB/ First American Improving Markets Index (IMI) surged to 201, up 76 metros from November’s data – The M Report 
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(rentals, TWO, Silver Bay, others) Big Money Bets on a Housing Rebound – by JANET MORRISSEY – NY Times

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(dynamic disclosure process) How CFPB Can Turn Restrictive Mortgage Rule into a Win for All – Jeremiah S. Buckley – With the help of technology and the FHFA, the CFPB can create Dynamic Disclosures that provide the consumer with the type of information a lender receives through its underwriting engine, writes Jeremiah S. Buckley, founding partner of BuckleySandler LLP. Better information will put borrowers on an equal footing with lenders, making non-Qualified Mortgage loans safer to originate, – American Banker Bankthink 
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(FHFA – OIG says) Regulator needs to monitor Fannie, Freddie staff pay-watchdog – (Reuters) – Fannie Mae and Freddie Mac, the two mortgage firms operating under U.S. government control, need increased regulator scrutiny to ensure their senior staff pay structures are justified, a government watchdog said on Monday 
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More Americans confident they can get mortgages – By Kerri Ann Panchuk – … Overall confidence in housing is up somewhat, with 14% of those interviewed believing home prices will go up in the next 12 months, a four-percentage point hike from the previous month. … – Housingwire 
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Congress Must Stop Using Fannie and Freddie as Piggy Banks – John Griffith and Julia Gordon – When lawmakers needed $1.5 billion to pay for an expanded student visa program last week, they turned to an unexpected funding source: mortgage giants Fannie Mae and Freddie Mac – American Banker
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FHA INFO #12-95: New FHA Mortgagee Letter // Update to Property Flipping Waiver – Subject:  Federal Housing Administration Maximum Loan Limits, Effective Period: January 1, 2013, through December 31, 2013 – HUD.gov

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