Global housing prices: There are always bigger bubbles – Simone Baribeau – Unless you’re in Ireland. An economic letter put out by the Federal Reserve Bank of San Francisco today put the US housing run-up in perspective. In a cross-country comparison they found that home prices in the US rose less than those in a whole swath of European countries. – FT.com
————
about agency CMO’s: Peril for Products Tied to Mortgages – By AGNES T. CRANE and ANTONY CURRIE – … Partly because of this backing, $176 billion of C.M.O.’s were issued in the second half of 2009, four times the amount in the second half of 2008, according to data from Thomson Reuters. About $1 trillion of the instruments are outstanding, Barclays Capital estimates. … – NY Times
————
+ 
New Jersey Jumbo borrowers continue to fall behind – By Sean Sposito - … About 7.4 percent of "jumbo" borrowers in the state were delinquent by at least two months in the first month of the new year, up from 7.1 in December. … (US) … Usually, these borrowers’ performance is driven by unemployment. .. - The Star-Ledger NJ.com
and
Jumbo Mortgage ‘Serious Delinquencies’ Rise to 9.6% – By Jody Shenn – U.S. prime jumbo mortgages at least 60 days late backing securities reached 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies,” according to Fitch Ratings. “The trend line for delinquencies indicates the 10 percent level could be reached as early as next month,” Vincent Barberio, a Fitch managing director in New York, said today in a statement. The rate almost tripled in 2009, Fitch said. – Bloomberg
————
another view: Home Underwater? Walk Away from Geithner’s Perverse ‘Homeowner Relief’ Plan – Zach Carter - The plan to supposedly aid homeowners drowning in debt adopted by Obama and Treasury Secretary Timothy Geithner is just a money trough for the banks. – AlterNet
————
Option ARMs Don’t Measure Up in HAMP: BofA – by DIANA GOLOBAY – HousingWire
Silent Second Lien Risk to RMBS Getting Louder – by DIANA GOLOBAY – … as many of these investors may not even know if a second lien is tied to their collateral investment. … – HousingWire