Mortgages and Housing: Clear Capital Says Stable, PIMCO Bets Big, Next FC Wave?, HO Association Risks, 4Q Refis Increase, FICO and PRIMIA See Better Times, GSEs Owning Seconds, Yves Smith, Donovan Convinces DeMarco?, Bulk Buyers, FHA Premiums, Shadow Inventories

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Clear Capital® Reports U.S. Home Prices Stable in 2012, Modest Increases Forecasted for Rest of Year – Overall prices stable with Midwest still weak. Forecast shows 1.2% growth for nation through end of year.

PIMCO’s Gross heavily exposed in MBS on bet Fed keeps low rates–CNBC – (Reuters) – PIMCO’s Bill Gross, who runs the world’s largest bond fund, said on Wednesday his heavy exposure in agency mortgage-backed securities is more a bet on interest rates remaining at exceptionally low levels than an extension of quantitative easing.

Americans brace for next foreclosure wave – By Nick Carey | Reuters – Yahoo News  
The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A "Housing Bottom" – Submitted by Tyler Durden – In what appears to be surprising news for some, Reuters has an article titled "Americans brace for next foreclosure wave" whose key premise is that "a painful part two of the [housing] slump looks set to unfold: … – Zero Hedge

Trayvon Martin Case Casts Financial Shadow on Homeowner Associations – By Broderick Perkins – Even if George Zimmerman is never charged or convicted in a criminal case related to the death of Trayvon Martin, the events in Sanford, FL should remind homeowner associations nationwide that in such contentious cases they may face liability claims that could cost million of dollars to defend. –


Refi Share of Q4 Originations Reaches 57%: MBA – BY: RYAN SCHUETTE – … according to the Mortgage Bankers Association (MBA). … “Mortgage volume increased in the fourth quarter, driven by heavier refinancing activity, translating into higher productivity.” Chartered financial institutions and independent bankers profited by $1,093 from each loan made in the fourth quarter, a decline from $1,263 per loan in the third quarter last year. …The M Report

FICO and PRMIA Report Quarterly Findings – BY: ABBY GREGORY – A new study from FICO revealed that banking professionals are raising their expectations for loan repayments and credit availability. … Significant findings from the report included a 12 percent decline in the number of respondents anticipating an increase in mortgage delinquencies for the remainder of the year. The total fell from 47 percent to 35 percent in FICO’s most recent quarterly numbers. … – The M Report
Less than one-in-five GSE loans hold a second lien – By Jon Prior – Less than 18% of Fannie Mae and Freddie Mac mortgages

have a second lien, according to industry estimates provided to HousingWire. … "Yes it does deflate DeMarco’s argument on

a second bailout," Sanders said. "But it doesn’t change his argument of firsts. I agree with him that forbearance dominates

principal reductions." – Housingwire

The Coming Housing Finance Train Wreck – Yves Smith – The interaction of immovable objects and inexorable forces is seldom pretty. One example is housing finance in the US. If no one blinks, an ugly situation could get even worse … So how may this turn out? It’s a no-brainer that we will continue to have a housing market dependent on the willingness of the Federal government to continue to guarantee pretty much all mortgages. The GSE wind-down is on auto pilot. …in other words, mortgage financing is likely to become even more politicized, and the results have high odds of constraining government involvement in this sector,..  – Naked Capitalism 

(Donovan convince DeMarco?) Housing secretary pushes mortgage write-downs – (Reuters) – Housing and Urban Development Secretary Shaun Donovan laid out the case for a program with such checks and balances to convince the Federal Housing Finance Agency, which regulates the companies, to provide more mortgage aid. – Chicago Tribune

Investors Hosting Housing Recovery Party – by Broderick Perkins – If you think investors are charging the housing recovery, you ain’t seen nothing yet. Investors, hand picking individual properties, working in groups, buying in bulk and smacking down all-cash deals like they won the Mega Millions Lottery, snatched up properties last year at an astounding pace, 64.5 percent greater in 2011 than 2010, according to the National Association of Realtors (NAR). – Realty Biz News

More Servicing Horror Stories: Couple Paying Off Loan Almost Forced Into Foreclosure – By: David Dayen – Fire Dog Lake

FHA mortgage premium may rise to 2.05% and delay the recoveryOC Housing News – … Obviously such an increase in the cost of an FHA loan will help the FHA avoid a bailout, and Congress may pass it for that reason, but it will also have a devastating effect on the housing market. … The combination of rising interest rates and increasing FHA loan fees will destroy any market recovery. …

The monster lurking in the shadow inventory – 12 million Americans underwater with nearly 6 million delinquent or in foreclosure with their mortgages. The hidden benefit of not paying your mortgage. – Dr. Housing Bubble

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