3 Unemployment Charts, Yves on Robo Settlement, Servicers and HUD, Money for Nothin’ – Checks for Free, DQs Decline, Reverse for Purchase, Richer by Default, Corporate Rates, Reverse AARP Wrath, Generation X & Housing, Flipping Waiver Extended, TCW & PIMCO Make Bets

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Check out my weekend economic post: Trillion Dollar Platinum Coin – Dumb Idea of the Day 

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(3 interesting unemployment charts) Envisioning Employment: Employment Situation December 2012Paper Economy – A US Real Estate Bubble Blog 
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(Yves goes Kung-Fu on $10B robo settlement) Pending Foreclosure Fraud Settlement Achieves New Level of Abject Regulatory Failure – Yves Smith – After too many years to count of regulatory failure and limp-wristed reforms, it’s hard to be surprised. Nevertheless, I hope to convince you that a yet another mortgage settlement, leaked on New Year’s Eve when hopefully no one would notice, achieves the difficult task of reaching a new level of dereliction of duty.Naked Capitalism  
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Heads up: Servicers face HUD’s new HOA servicing rulesHousingwire Ticker – … Specifically, the rule says servicers and lenders have to name and serve the HOA during the foreclosure process, so HUD does not get stuck with unpaid HOA fees. Once a foreclosure is finalized, the servicer is required to notify the HOA of the servicer’s interest in the property and must pay any HOA-related fees and finances prior to the property’s conveyance to HUD. Once the property is in HUD’s control, if the servicer followed the HOA guidelines, HUD will reimburse the servicer for the HOA fees covered …
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(Bill Gross explains infinity machine) Money for Nothin’ – Writing Checks for Free – William H. Gross – … What Governor Bernanke may have been referring to with his “essentially free” comment was the fact that the Fed … actually rebate the interest they earn on the Treasuries … that they buy. They give the interest back to the government, and in so doing, the Treasury issues debt for free.  ... – PIMCO Investment Outlook 
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Fannie Mae, Freddie Mac Mortgage Serious Delinquency rates declined in November – by Bill McBride – commentary and interesting chart – Calculated Risk

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Kiplinger: Downsize Through a Reverse Mortgage for Purchase – by Jason Oliva – Reverse Mortgage Daily 
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False Hope: Low Rates, Write-Offs Make Americans Richer By Default – Colin Lokey – Seeking Alpha 
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(interesting series of charts) US credit expansion driven by corporate lendingSober Look Blog 
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Analysts: FHA Will Avoid AARP Wrath and Keep Reverse Mortgages – by Elizabeth Ecker – … writes a Sterne Agee research note published last week. – Reverse Mortgage Daily 
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(4 reasons) Did Generation X Cause the Housing Crisis? – By JP – US News Blogs
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House-flipping waiver is extended – By Steve Kilar – The Federal Housing Administration’s two-year extension is intended to keep housing market from sliding backThe Baltimore Sun 
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TCW to Pimco Bet on Housing Bond Rally After 41% Gain – By Heather Perlberg & Pierre Paulden – The world’s biggest bond managers are betting housing debt that rallied as much as 41 percent last year will again beat other fixed-income investments in 2013 as the U.S. real estate recovery strengthens. (also mentions DoubleLine Capital LP,  Goldman Sachs Group Inc. (GS), D.E. Shaw & Co. and Angelo Gordon & Co., Kyle Bass, Elliott Management Corp., and more) – Bloomberg

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