Fannie, Freddie Spreads Narrowest in 17 Years: Credit Markets – By Jody Shenn – … speculating cash the companies use to buy delinquent loans will be recycled back into the securities. … The difference between yields on Fannie Mae’s current- coupon 30-year securities, which trade closest to face value, and 10-year Treasuries narrowed to as little as 0.66 percentage point yesterday, matching the lowest since 1992, according to data compiled by Bloomberg. – Bloomberg BusinessWeek
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Real Homes of Genius – Santa Monica Westside Short Sale Action. How to go from $770,000 to $1,200,000 Million in 3 Years and Lose it All. The Short Sale Valentine Special with No Mortgage Payment for Nearly Two Years. — Dr. Housing Bubble
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Housing Double Dip? Zillow Says Yes, NAR Can’t See It – John Lounsbury – Seeking Alpha
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Congressman Introduces Mortgage E-Verify Act for GSE and FHA Mods – BY: CARRIE BAY – … Marchant, who is a member of the House Financial Services Committee, said, “My bill will potentially save millions by cutting down on fraudulent claims from illegal immigrants and protect taxpayers from subsidizing the restructuring or renegotiation mortgages of illegal immigrants.” According to Marchant, mandating the use of the E-Verify program to establish a homeowner’s legal status would help eliminate waste, fraud, and abuse, and bring integrity to the mortgage modification process – DS News
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Slightly Improved US Housing Outlook May Delay Foreclosures But Prolong Price Decline - Moody’s has raised its house price outlook Research Recap slightly but still does not expect much benefit from loan modification programs. – Research Recap
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Bloomberg: More Evidence of Chinese Real Estate Bubble – by Ockham Research – … Jack Rodman of President of Global Distressed Solutions LLC, who has lived and worked in Beijing for the last eight years, estimates that nearly half of the office space in Beijing sits vacant … – Ockham Research Razor’s Edge
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Where home prices rise 33% in five weeks… – Tim Iacono – This story in MarketWatch tells of one of the hottest new property markets in the world, just off the southern coast of – you guessed it – China, where rising prices make the 10 percent gain on the mainland during the month of January look almost tame by comparison. – The Mess That
Greenspan Made
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Refinancing unavailable for many borrowers – By Dina ElBoghdady and Renae Merle – … Half of the nation’s borrowers have mortgages with rates above 6 percent even though the average rate on 30-year, fixed-rate mortgages has been about 5 percent for most of the past year,… Many borrowers who tried to refinance have found they’re stuck because the value of their homes has tumbled and their equity has melted away. Others have been shut out because lenders tightened their requirements, demanding stellar credit and low debt. – The Washington Post
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Small banks to the rescue: A ray of hope in the coming storm of default – ERROL LOUIS – NY Daily News
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video: What Your Home Insurance Does Not Cover – Ed Conarchy – In this week’s Conarchy’s Corner (length: 8 minutes) Ed Conarchy wants to know if you felt the shake, rattle and roll of the 3.8 magnitude earthquake in Northern Illinois at 3:59am Wednesday. It’s a good time then to remind you that your standard homeowners insurance policy does not protect you from many things, including earthquakes. Ed will show you the complete list of things not covered ... – Ed Conarchy Mortgage Planner
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Housing Shortage Coming In 2011 – Alexandra Zendrian – If new houses aren’t built soon in the U.S., there won’t be enough next year. – Forbes
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Transript: Brian Wesbury – Steve Forbes – V-Shaped Recovery - Brian Wesbury tells Steve Forbes we’re in for a housing shortage next year. – also that mortgage securitization is a long way away – Forbes