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Ballard Spahr: CFPB appraisal rule carries many exceptions – Federal regulators unleashed the standard appraisal requirements for higher-priced loans last week, but attorneys at Ballard Spahr say it will have little ‘practical effect,’ because there is an exemption for loans that meet qualified mortgage requirements. – Housingwire
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Gen X And Gen Y Have A Great Shot At Real Estate Right Now –– If They Don’t Blow It – Brendon Desimone, Zillow – Business Insider
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(has list) 9 ways feds bungled foreclosure crisis – By Kim Peterson – Regulators got buried under a mountain of pricey consultants, biased reviewers, financial quibbling and ruthless banks. – “This is Kafkaesque,” an industry source told American Banker. ” – MSN Money
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The hidden costs from inflation in the housing market: 4 trends in the current housing market. Comparing nationwide trends and niche areas. Inflation adjusted home prices. – Dr. Housing Bubble
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CFPB servicing requirements prompt mixed reactions – By Kerri Ann Panchuk – The Consumer Financial Protection Bureau drew praise Thursday for exempting smaller servicers — or those with 5,000 or fewer loans — from its new rules governing mortgage servicing. – Housingwire
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(consumer piece) Saving Money on Your Mortgage in 2013: (3) Potential Interest Savings on Your Current Mortgage – by Jack Guttentag, The Mortgage Professor
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FHA Reverse Mortgage Changes Coming By Month’s End – by Jason Oliva – … (FHA) will announce anticipated changes to its Home Equity Conversion Mortgage (HECM) program in a mortgagee letter slated for release by end of the month, a spokesman from (HUD) tells RMD. … – Reverse Mortgage Daily
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(lawyer blog) ZOMBIE TITLE – BY RUSSELL KOONIN AND ROBERT SIEGEL – Think your house has been foreclosed? Think again… – Mortgage Crisis Watch
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(to pay their mortgage?) Over 25% of 401Ks Tapped to Pay Current Bills; Dead-Fish Housing Assets; Walking Away Yet Again – Mike Shedlock – MISH’S Global Economic Trend Analysis
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Research Recap: US AAA Debt Rating Likely To Be Downgraded Without Credible Deficit Reduction Plan – From Fitch Ratings
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FICO Study Reveals Rising Demand for Credit – BY: ABBY GREGORY – According to a recent study from FICO, U.S. banks are anticipating the end of the “household deleveraging” trend observed among consumers during the past five years. – The M Report (BC question – wasn’t much of the delevering caused by people defaulting on debt and its writeoffs?)
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(House Price) Recovery in U.S. Saving 8 Million Underwater Homeowners - By Heather Perlberg – Bloomberg Businessweek
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(example of Newspeak?) Can Foreclosures Be Good for the Market? – BY: KRISTA FRANKS BROCK – In a report released Monday, Foreclosure Radar boldly asserts that foreclosures are helping mend the market, and the government—backed by the banking industry—has created foreclosure delays to help bank balance sheets. – DS News
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December home prices jump 19.6% in Southern California – Experts expect more gains this year, although not necessarily at such a torrid pace. - – By Alejandro Lazo, Los Angeles Times
This global mess and pain didn’t happen by aberrant market forces. The merga-mania BAC went on, acquired banks had old (no profit) mortgages foreclosed on illegaly. They were “flipping” for massive fees upfront & huge interest income stream. Old ammorts, payment goes to customer principle. Newly flipped, payment went to BAC. Nobody stopped them, in fact it was encouraged to play ball or be acquired
, or….worse, enemies list ensuring personal & corporate pain. Biggest charity darlings & political donor friends. Viola! Instant tyranny & noisily economic blame gaming, while they sneaked quietly off stage. You can’t repair whole engine b4 finally discovering the broke part…but some mechanics still try.