Frozen Grand Central - This should cheer you up  - thanks Susan Kulakoswki for sharing this - Youtube 
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LIBOR Reverse Mortgage Margins Disappearing? -  John Yedinak - Reverse Mortgage Daily

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The New Market for $700,000 Houses - Felix Salmon -  portfolio.com

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OFHEO:  WIDESPREAD HOUSE PRICE DECLINES IN FOURTH QUARTER -  Pockets of Strength Remain; Coasts, Midwest Show Biggest Declines -  Press Release OFHEO

Fannie Mae, Freddie Mac shares jump as OFHEO to remove portfolio … CNNMoney.com  http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-23332955.htm

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CASE SHILLER SECTION:

2007: Not A Good Year For Home Prices  -  Index Universe

Home prices continue to plunge - Macromarkets released the December data(.pdf) for the S&P/Case-Shiller Home Price Indices showing a 9.8 percent year-over-year decline for the 10-City Composite Index, the steepest decline on record. Indices for individual cities are shown:  themessthatgreenspanmade

December 2007 S&P/Case-Shiller Home Price Data Shows Record Declines -  BIG 

VIDEO:  Robert Shiller On the Changing Psychology Of Homebuyers  the mess that greenspanmade

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Letter Writer of the Day: Jay Brown - Felix Salmon comments on a letter by MBIA CEO Jay Brown to shareholders - thanks Susan Kulakowski - portfolio.com

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Mortgage Fraud: House Sold Three Times Comes with Dead Original Owner - Chicago Tribune and comments by Vigilant Inestor 

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Lonely Lenders - As if the banking sector didn’t have enough trouble, consumer borrowing will be tepid this year.  - USBanker
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Go to Buffalo! Or Peoria! Or Amarillo! - As sales volume reaches new lows, inventory remains historically high, and home prices continue to fall nationally, the NAR (National Association of Realtors) recommends heading to Buffalo, Peoria, or Amarillo if you’re looking for rising home prices. -   themessthatgreenspanmade

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Subprime Market Debacle -  Mark T. Williams - Where were board and risk-management oversight? -  Forbes 

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MBIA Freezes Structured Finance Business, Wipes Dividend - Paul Jackson -  housingwire