CFPB Fox-Henhouse, $700B GSE Mortgages, Rates Stop Falling, Rental Rebound, CFPB on Consumers, Mortgage Litigation Update, FHA Extends Flips, Green River REO to Rental, Independent Originators Profits Up, FCs and Repossessions, Michael Pento on QE4

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(Fox guarding henhouse?) CFPB Wants to Allow Banks to Test Their Own Mortgage Disclosures – by Jason Oliva – Housingwire 
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FBR: $700 billion in GSE mortgages will need special servicing – By Kerri Ann Panchuk – Housingwire 
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(has 2 charts) 30y mortgage rates have stopped decliningSober Look Blog
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Rental Sector to Gain the Most from Rebound in Household Formation - BY: ESTHER CHO -  … according to a report from Capital Economics. “[W]ith the overwhelming majority of newly forming households over the next few years set to rent rather than own their home, the rental sector will be the disproportionate beneficiary,” wrote economist Paul Diggle in the report. … For one, the reported noted the drop in household formation in previous years “left a shortfall of about 1.2m households relative to trend levels,” … – DS News 
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(you can lead ‘em to water but not make them drink) CFPB Finds U.S. Consumers Overlook Credit Reports – BY: ESTHER CHO – … (CFPB) released a report revealing only one in five people actually obtain a copy of their credit report each year. … – DS News

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(long and interesting) Mortgage Lit(igation) Roundup: Five Signs That Plaintiffs Are Winning the RMBS WarThe Subprime Shakeout by Isaac Goldman – … Nevertheless, I can’t help but agree that we’re reaching a critical point of reckoning in the arc of post-crisis litigation – the inflection point at which banks can stall no longer and must either acknowledge the true cost of their and their affiliates’ irresponsible lending or risk trials and adverse judgments.   … 

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FHA to extend rule permitting loans on ‘flips’ of fixed-up homes - By Kenneth R. Harney – Rehabbers and real estate investors rejoice: You’ll still be able to sell houses to first-time buyers using low-down-payment FHA-insured mortgages next year, even if you’ve owned the fixed-up property for less than 90 days. (FHA) has decided to extend its rule permitting loans on quick “flips” of renovated houses beyond the scheduled Dec. 31 expiration deadline. … – LA Times 
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Green River Capital launches REO-to-rental servicing division – By Kerri Ann Panchuk – Housingwire 
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Foreclosure woes keep getting worse in certain judicial states – By Kerri Ann Panchuk – Housingwire 
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MBA: Independent Mortgage Banks’ Profits Up In Q3 – by MortgageOrb.com – Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $2,465 on each loan they originated in the third quarter, up from $2,152 per loan in the second quarter 
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Foreclosure Filings Down, Bank Repossessions Up In November – by MortgageOrb.com – … November’s foreclosure starts were down 13% from the previous month and down 28% from a year ago, reaching their lowest level since December 2006. However, bank repossessions increased 11% from the previous month and were up 5% from November 2011, a nine-month high and the first year-over-year increase since October 2010.  … 
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Bernanke’s Balance Sheet Ensures Disaster – by: Michael_Pento - … In unprecedented fashion, the Fed also tied the continuation of its zero interest rate policy … to an unemployment rate that stays above 6.5%. … would be a brilliant idea if printing money actually had the ability to increase employment. But it does not. The Fed recently celebrated the fourth anniversary of zero percent rates … even after this incredibly accommodative monetary policy has been in effect since 2009, the labor condition in this country has yet to show significant improvement. … – Market Oracle

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