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(draw your own conclusion) Freddie Mac, Fannie Mae donations disappearing, study predicts - By Patricia Sullivan - Fannie Mae and the Freddie Mac Foundation, the Washington area’s two biggest contributors to local charities, will probably end their philanthropy in the next few years, with troubling consequences for nonprofit groups that focus on education and human services for the poor, children and families, predicts a study to be released Monday. - Washington Post
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House is Gone but Debt Lives On; Expect Huge Surge in Deficiency Lawsuits - Michael Shedlock - Forty-one states allow lenders to sue for mortgage debt if a home fetches less than the mortgage in a foreclosure sale. It always will. Such lawsuits are one of the reasons I have consistently advised people to consult an attorney before walking away. - MISH'S Global Economic Trend Analysis

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Foreclosures Are Killing Us - By CRAIG E. POLLACK and JULIA F. LYNCH -  ... But that is only part of the story. A growing body of research shows that foreclosure itself harms the health of families and communities. In our 2008 survey of 250 people undergoing foreclosure in the Philadelphia area, 32 percent reported missing doctor’s appointments and 48 percent said they let prescriptions go unfilled, significantly higher rates than others in their community ... - NY Times Opinion
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 Study Details Hedging, Trading Costs Under Dodd-Frank  - ... Woodbine Associates has produced a focused study on the potential impact of margin, capital, execution and market structure under the new regulatory framework on End User derivative transactions to help educate financial professionals.  The research compares the direct and indirect costs of centrally-cleared transactions with those of transactions directly between counterparties and proposes cost-minimizing End User hedging strategies. ... - Futures Magazine

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In rough real estate market, appraisers feel heat for home sales that fall apart or lag behind - By Michelle Jarboe McFee, The Plain Dealer

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Job Loss Could Put One in Three Out of Their Home - BY: CARRIE BAY - One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September. (has more interesting stats) - DS News

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Six Pac(k)in' - Bill Gross - PIMCO Investment Outlook
1.  Long-term profits cannot ultimately grow unless they are partnered with near equal benefits for labor.
2.  There is only a New Normal economy at best and a global recession at worst to look forward to in future years.
3.  If global policymakers could focus on structural as opposed to cyclical financial solutions, New Normal growth as opposed to recession might be possible.
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Jumbo mortgages to remain steady after conforming loan limit drop - by JON PRIOR - ... Mike McMahon, managing director at Redwood Trust, said the same banks that originated and retained mortgages higher than the previous $729,000 cap will still be writing loans above the new $625,500 ceiling. ... "They will continue to make such loans," McMahon said. "The world will not come to an end." ... - Housingwire

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Mortgage Mess 'Next Shoe to Drop' is FHA: Analyst - By Philip van Doorn - (TheStreet) -- The largest mortgage lenders and servicers could be hit with another government agency bombshell, according to Paul Miller of FBR Capital Markets.

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As Banks Struggle, Fed Racks up Huge Profits — for Taxpayers - By Daniel Gross - hattip Ira Artman - ... But when the Fed and its banks generate profits, they turn them over to the Treasury Department via weekly payments. ... But the figure would be at least $80 billion higher if taxpayers weren't receiving the lion's share of the Fed's profits.  ... - Yahoo Finance

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Fannie Mae Knew Early of Abuses, Report Says - By GRETCHEN MORGENSON - Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses among the law firms it had hired to remove troubled borrowers from their homes. But the company did little to correct the firms’ practices, according to a report issued Tuesday. ... The report is the second in two weeks in which the inspector general has outlined lapses at both the Federal Housing Finance Agency and the companies it oversees — Fannie Mae and Freddie Mac. ... - NY Times
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(on loan limits and Obama refi) New Ideas For Refinancing And Restructuring Mortgages - BY SEN. JOHNNY ISAKSON - I began my career in residential real estate in 1967 as a real estate agent specializing in Federal Housing Administration (FHA) and Veterans Administration (VA) home sales with an average price of $17,900. In 1968, I experienced the first of four housing recessions I would face during my 33 years in the business. - MortgageOrb
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(describes frauds and action plan) Fraud Takes Aim At Servicing And Loss Mit - BY ANN FULMER - If you are working in default servicing or loss mitigation and feel like you are at the center of the proverbial bull's eye, you are right on the mark. From default and foreclosure management, "robo-signing" issues and the related actions and proposed settlement from the state attorneys general, to potential regulations under the Dodd-Frank Act and the Consumer Protection Financial Bureau, servicers and loss mitigators are, to understate the case, facing unprecedented challenges. - MortgageOrb
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BofA to Shutter Correspondent Lending Unit After Auction Fails - by Hugh Son - (Bloomberg Businessweek) -- Bank of America Corp., the largest U.S. lender by assets, will close its correspondent-mortgage unit after negotiations with a bidder failed, leaving the employment status of about 1,200 workers in limbo. The business will be shut by year-end,
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House of Cronies: Is Freddie Mac Incompetent or Corrupt? - James Kwak - It's becoming clear that Freddie Mac offered Bank of America a sweetheart deal in a case that suggests not only incompetence, but also something between cronyism and regulatory capture. - The Atlantic

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(take a look) Trend Chart of the Day: FHA Loan Limit Changes & Home Prices - Scott Sambucci - Altos Research

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