MBA on QM, Delinquencies Fall, Underwriting Tightens, Short Sales, HUD is Watching, Asking Ben, Boomers and Home Equity, Homebuilders, Favored FHA, FNMA Sees QE3 End, Wells Mods, Mortgage Settlement, FBR on Originators, RWT, Back to the 90’s, Private Reps

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MBA recommends (several) changes to qualified mortgage – By Christina Mlynski – The Mortgage Bankers Association issued a letter to the Consumer Finance Protection Bureau advising the agency of ways to improve the ability-to-repay standard among aspects being drafted in the qualified mortgage rule. – Housingwire

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Seriously Delinquent U.S. Mortgages Fall to Four-Year Low – By John Gittelsohn  – Bloomberg
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Mortgage lending standards continue to tightenOC Housing News

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The Short Sale Process: How To Avoid Delays – (5 items) – by Mike Wheatley – We’re seeing a rising number of short sales this year, a trend that’s set to increase as we run through the summer. – Realty Biz News 
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HUD: Following Mortgage Settlement, We’re Watching Banks Like Hawks – by Elizabeth Ecker – Reverse Mortgage Daily
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(will he?) House Subcommittee on Economic Growth Demands Answers From Bernanke on Fed’s Exit Strategy; Fed Must Reply by March 5 – Mike Shedlock – MISH’S Global Economic Trend Analysis
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(uh-oh house prices better rise) Half Of Boomers Now Say Home Equity is In The Cards for Retirement - by Jason Oliva – Reverse Mortgage Daily 
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(Pulte and others) A Phoenix Housing Boom Forms, in Hint of U.S. Recovery – By Susan Berfield – Businessweek 
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FHA May Get Most-Favored Status – By Brian Collins and Mark Fogarty – WE’RE HEARING that a new housing reform proposal developed by a private bipartisan commission will be very kind to the FHA mortgage insurance program. – more – National Mortgage News 

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Fannie Mae expects QE3 to end this year – By Christina Mlynski – … The good news is the GSE remains relatively confident in the nascent housing recovery, noting that rising home prices could prompt more borrowers to enter the market, allowing the housing recovery to continue through 2013. … – Housingwire 
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Wells Fargo Grants Nearly Five Million Loan Mods to DateNational Mortgage Professional

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California captures 40% of aid from the national mortgage settlement – By Kerri Ann Panchuk – Housingwire 
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Report: Mortgage Banking to Stay Profitable; Refi Boom Not Over Yet – BY: TORY BARRINGER – A new report from FBR Capital Markets asserts low rates and high demand will continue to boost profitability in the mortgage banking sector in 2013. … FBR notes that average rates on outstanding mortgages hover between 4.50 percent and 5.00 percent—well above today’s historically low rates. According to the firm, this means there is a “large portion of loans with an economic incentive to refinance.” … – DS News
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Redwood Trust earnings quadruple in 2012 – 2013 plans: $7B in RMBS, $150M in CMBS, $1B in mezzanine loans – By Eric Gneckow, Business Journal 
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Housing inventory heads back to the 1990s: Housing inventory reaches decade lows and causes unusual trends in the housing market.Dr. Housing Bubble
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Some Try to Diversify PL RMBS Reps and Warrants – Bonnie Sinnock – … Some of the diversification in these reps and warrants in particular reflects concern about having repurchase liability extend out “for the life of the loan.” By having a “sunset feature,” such as the agencies have been planning, some would-be or existing issuers not rated by Fitch have been trying to “reduce the uncertainty” associated with repurchase risk by having the period of liability end after, for example, less than 36 months. … – National Mortgage News
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