Barrons 2013 Outlook, From FHA to Wells, NMFC Mods Success, Yves on Obama-Marco, Field Services Rapid Response, DQs Stay >5%, Phantom housing Collateral, 2013 Originations To Drop

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(summarizes forecasts) Barron’s’ 2013 Outlook – No Negative Forecasts.. – Cullen Roche – Barrons came out with their 2013 Outlook today and I was not surprised to see that all of the forecasts are positive.  There isn’t a single forecaster who expected the S&P 500 to fall this year.  There is only one forecaster who expects the 10 year bond yield to fall from its current level -  Pragmatic Capitalism

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Obama housing adviser heads to Wells Fargo – By Christina Mlynski – … Currently, Ryan is a senior adviser to secretary Shaun Donovan of (HUD) … 2009 as the first ever chief risk officer at the Federal Housing Administration. … Last year, Ryan briefly served as the agency’s acting FHA commissioner. … Previously, Ryan spent 26 years at Freddie Mac …Housingwire 
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Asking Prices Increase, Discounts on the Decline – BY: TORY BARRINGER – Asking prices on homes improved on a yearly basis for the seventh straight month in November, according to the latest Residential Price Index (RPI) report from FNC, Inc. – The M Report

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NFMC Clients Twice as Likely to Receive a Mod, Program Serves 1.5M – BY: ESTHER CHO – … Consumers who received mortgage modification assistance from NFMC, which is administered by NeighborWorks, saw their monthly payments decrease by an average of $176 more per month compared to non-NFMC clients, NeighborWorks reported. … In addition, homeowners who sought assistance from NFMC were nearly twice as likely to receive a modification, and they were at least 67 percent more likely to stay current 9 months after getting modified, according to the report. …DS News 
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Is Obama Getting Rid of the FHFA’s Ed DeMarco to Bail Out the Banks? - Yves Smith – Believe it or not, sometimes I’m not cynical enough. – Naked Capitalism

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(interesting - about field services companies’ rapid response after Hurricane Sandy) Riders On The Storm – Servicers have faced extraordinary challenges in the aftermath of Hurricane Sandy. – By Robert Klein – MortgageOrb

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Mortgage delinquency rate stuck above 5% – by Kerri Ann Panchuk – ... If TransUnion were to exclude borrowers who haven’t made a mortgage payment in over a year, the national mortgage delinquency rate would plummet to 2.5%. With that in mind, analysts are wondering if today’s higher delinquency rate reflects poorly on longer foreclosure timelines or if it means borrowers are obtaining time to save their properties. The general consensus is everything turns on a case-by-case basis. … – Housingwire

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Essays in Fragility: The Rise and Fall of Phantom Housing Collateral – Charles Hugh Smith - How much phantom housing collateral is still on the books? Nobody knows, and that in itself renders the housing/mortgage sector fragile. … “The Fed is now where mortgages go to die” — Catherine Austin Fitts … – Of Two Minds

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KBW: Mortgage Originations to Drop in 2013 – by Jason Oliva – … Though KWB expects mortgage origination activity to remain strong in 2013, the New York-based investment banking firm predicts a decline to $1.54 trillion, down from $1.7 trillion in 2012. … – Reverse Mortgage Daily 
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