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FHA serious delinquency rate inches up while
originations decline

The serious delinquency rate for Federal Housing Administration mortgages reached 9.6% in December, the highest level in more than two years, the Department of Housing and Urban Development said.More than 711,000 FHA-insured loans were seriously delinquent, up 18.9% from one year earlier, according to the HUD report. It's also a 3.2% increase from the month [...]

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-rate-inches-up-while-originations-decline


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Mortgage Rate Update; Should you Rent or Buy a
Home

Until recently, home ownership was no bargain compared to renting, according to Paul Diggle, a housing economist at Capital Economics. Recent data from the U.S. Census Bureau and published statistics from Thomson Datastream indicate that rising rents and falling mortgages are tipping the scales towards home ownership. The median monthly mortgage payment has fallen to about the same as a median monthly rent check. [...]Related posts:

  1. Mortgage Rate Update; The Benefits of ARM’s
  2. Mortgage Rate Update; FHA good alternative for many home buyers
  3. St. Louis Mortgage Rate Update; What income is required for a mortgage?


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The Wealth Solution Webinar



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Register hereCopyright 2006-2010 by William L. Exeter. All Rights Reserved. (866) 393-8377

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nar.html


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University of Michigan Survey of Consumers
January 2012 (Final)

Today's final release of the Reuters/University of Michigan Survey of Consumers for January indicated improvement in consumer sentiment with a reading of 75.0 and climbing just 1.08% above the level seen last year while one year inflation expectations rose slightly to 3.3%.

The Index of Consumer Expectations (a component of the Conference Board's Index of Leading Economic Indicators) rose to 69.1, and the Current Economic Conditions Index climbed to 84.2.

It's important to recognize that consumer sentiment has seriously eroded over the past few months with the current results remaining near levels not seen since 1980, a major indication that consumers are in the process of tightening even further on spending.




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http://paper-money.blogspot.com/2012/01/university-of-michigan-survey-of_27.html


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Maryland court rejects robo-signing lawsuit

A Maryland court ruled that homeowners lose the right to file a subsequent lawsuit against a foreclosure proceeding if the grievances are not aired during the original foreclosure.In Maryland, all foreclosures must go through the courts. In the latest Smalley v. Shapiro & Burson ruling, the U.S. District Court for the District of Maryland said [...]

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http://feedproxy.google.com/~r/Housingwire/~3/8aVqlvoFZZc/maryland-court-rejects-
robo-signing-lawsuit-on-technicality


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Fannie Mae multifamily mortgage EVP retires,
replacement named

Kenneth Bacon, executive vice president of the Fannie Mae multifamily mortgage business, is retiring after 18 years at the mortgage giant.Jeff Hayward will assume Bacon's position leading the multifamily team, the government-sponsored enterprise said. Bacon has been planning his retirement for some time, a Fannie spokesman said. Hayward had been leading the company's [...]

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mortgage-evp-retires-replacement-named


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Appraisal board solicits feedback on seller
concessions

An appraisal practices board formed by The Appraisal Foundation is accepting feedback on a second draft of a proposal designed to advise appraisers on how to adjust comparable sales for seller concessions.The board was formed by the foundation in July of 2010 to issue guidance on recognized valuation methods. One of its focuses is on [...]



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s-feedback-on-seller-concessions


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Foreign Cenbank Holdings to January 25, 2012


News reader Peter Armstrong’s efforts this morning on CBC Radio 1 were most instructive. Someone important needs the GOP nomination process to come to a conclusion. Now. Well, the Fed’s own MBS holdings swung to a strong $11.810 billion reduction, but that might have simply been a few re-po’d chickens going back to roost at some banks that didn’t want to admit to owning the stuff during year-end reporting season Except for that it was a pretty dull week, with small...

Read this item at Housing Doom...

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Treasury to pay investors triple for HAMP
principal reductions

The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday.Officials announced several critical changes to HAMP, including an enrollment extension to Dec. 31, 2013, from its original expiration date at the end of this year.The Treasury will also require servicers to factor in [...]

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http://feedproxy.google.com/~r/Housingwire/~3/8bn5fGi2uaQ/treasury-to-pay-investo
rs-triple-for-hamp-principal-reductions


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Value in seasoned subprime underestimated:
Amherst

Subprime loans issued in 2004 and earlier possess a higher percentage of better quality re-performing loans when compared to 2006 and 2007 vintages, Amherst Securities said in its latest mortgage insight report.The point of the survey is to remind the market that there's a need to differentiate between the collateral characteristics of subprime loans issued [...]

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http://feedproxy.google.com/~r/Housingwire/~3/cipffaeu2F8/value-in-seasoned-subpr
ime-underestimated-amherst


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