{"id":459935,"date":"2010-03-22T19:28:56","date_gmt":"2010-03-22T23:28:56","guid":{"rendered":"http:\/\/mortgagenewsclips.com\/2010\/03\/22\/mortgages-and-housing-downside-cit-workouts-prices-annaly-elliott-waves-fhlb-forecast-fnma-forecast-foreclosure-onslaught-ca-prices-rise-jumbo-spread-hecms-dave-stevens-video-debt-forgiv\/"},"modified":"2010-03-22T19:28:56","modified_gmt":"2010-03-22T23:28:56","slug":"mortgages-and-housing-downside-cit-workouts-prices-annaly-elliott-waves-fhlb-forecast-fnma-forecast-foreclosure-onslaught-ca-prices-rise-jumbo-spread-hecms-dave-stevens-video-debt-forgiv","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/459935","title":{"rendered":"Mortgages and Housing: Downside?, Cit Workouts, Prices, Annaly, Elliott Waves, FHLB Forecast, FNMA Forecast, Foreclosure Onslaught, CA Prices Rise, Jumbo Spread, HECMs, Dave Stevens Video, Debt Forgiveness Taxes"},"content":{"rendered":"

\"bill-coppedge-dec09-1\"<\/a> \"original<\/a> <\/p>\n

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\"pc1\"<\/a> \"pragmatic-capitalist\"<\/a> <\/p>\n

IS THERE MORE DOWNSIDE TO HOUSING PRICES?<\/strong> – Good thoughts here from David Rosenberg on the price of real estate in the United States.  Rosenberg points out that housing is still an excessively high percentage of household assets.  If history is any guide it could mean there is at least another 10% downside in house prices …<\/strong> – The Pragmatic Capitalist<\/a> <\/p>\n

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\"hw1\"<\/a> <\/p>\n

Citi Mortgage Workouts Outnumber Foreclosures 15 to 1 in Q409<\/strong> – by JON PRIOR – HousingWire<\/a>  – (great news, I wonder how much shadow inventory they have?  BC)<\/p>\n

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\"za1\"<\/a> \"seeking-alpha\"<\/a> <\/p>\n

Do We Really Want Housing Starts to Increase?<\/strong> – Zachs.com – … We still have a massive inventory of houses, both new and used. This is especially true if one considers the shadow inventory of people who are far behind on their mortgages, or houses that are already in the foreclosure pipeline but not yet listed for sale. Until we get the inventories under control, each new house built simply adds to the problem.<\/strong> … – Seeking Alpha<\/a> <\/p>\n

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\"seeking-alpha\"<\/a><\/p>\n

about Annaly – High Conviction: An Attractive Residential Mortgage REIT<\/strong> (Yes, You Read That Right) – Greg Merrill – Seeking Alpha<\/a> <\/p>\n

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\"ew1\"<\/a> \"elliott-wave-intl\"<\/a> <\/p>\n

Elliott Wave Analysis of Mortgage Rates<\/strong>:  Mortgage Rates Headed Higher – By Jason Farkas – Hard as they may try, the government doesn\u2019t control the market.
Here are the Elliott details:
1.    A downward zigzag pattern began in 1981 when rates were at 18.63%.
2.    Five waves down completed wave (A) in 1993.
3.    Five waves down completed wave (C) at 4.71% in December.
4.    Within wave 5 of (C), five waves down are now visible.
5.    Now that the zigzag correction is complete, a rally up to the 8.64-65 area is expected.<\/strong>  – Elliott Wave International<\/a> <\/p>\n

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\"bloomberg\"<\/a> <\/p>\n

Federal Home Loan Bank Sues Over Mortgage Securities<\/strong> – By Karen Gullo and Jody Shenn – The Federal Home Loan Bank of San Francisco sued nine securities dealers alleging they misled it about the credit quality and risks of loans behind $19.1 billion in private-label residential mortgage-backed securities. –<\/strong> Bloomberg<\/a> <\/p>\n

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\"abc-news1\"<\/a> <\/p>\n

Fannie Mae Slashes Mortgage Investment Forecast –<\/strong> By Al Yoon – (Reuters) – Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a "setback" in home sales, and warned on its impact on the economic recovery.  Fannie Mae also cut its forecast for 2010 mortgage originations for a second month, according to its monthly outlook.<\/strong>  Residential investment is likely to drop 17.2 percent in the first quarter … Just a month ago, they expected the first quarter’s residential investment would rise 2.8 percent.  For all of 2010, residential investment will grow 10 percent, slightly below the previous forecast, they said…. – ABC News Money<\/a> <\/p>\n

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\"mortgage-orb\"<\/a> <\/p>\n

Awaiting The Onslaught Of Foreclosed Properties<\/strong> – by TONY O’NEILL -  For some time now, commercial real estate professionals have been anticipating a wave of foreclosures. Hundreds of billions of dollars worth of commercial real estate loans either have matured or are expected to mature in the coming months<\/strong>, leaving borrowers unable to refinance or pay back what they owe.  However, with the exception of a small percentage of upside-down properties, most of these properties have not yet been foreclosed upon. So, why are commercial properties continuing to avoid foreclosure, and what needs to occur in order for these assets to be returned to the market? \u2013 MortgageOrb<\/a> <\/p>\n

PenFed, Sun West Mortgage Team On HECM Pilot<\/strong> – … PenFed says it expects to launch this product nationwide after the initial pilot is complete. PenFed\u2019s reverse mortgage eliminates the up-front origination fee – 2% of the adjusted property value – and the $35 monthly servicing fee that are customary in the industry, the credit union says….<\/strong> – MortgageOrb<\/a> – (if GNMA HECM 5.5’s trade over 109, there are enough points for them to cut out these fees – BC)
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\"latimes-business\"<\/a> <\/p>\n

California’s median home sale price jumps 11.2% in February –<\/strong> By Alejandro Lazo – Analysts attribute the increase, to $249,000, to more higher-end houses and fewer bank-owned properties changing hands.<\/strong> – LA Times Business<\/a> <\/p>\n

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\"economic-collapse\"<\/a> <\/p>\n

Is The United States Headed For A Commercial Real Estate Crash Of Unprecedented Magnitude?<\/strong> – …  It is being projected that the largest commercial real estate loan losses will be experienced in 2011 and the years following.  Some analysts are estimating that losses from commercial real estate at U.S. banks alone could reach as high as 200 to 300 billion dollars.  … According to a recent report by the Congressional Oversight Panel, approximately 3,000 U.S. banks are currently classified as having a risky concentration of commercial real estate loans.  All of them are small to mid-size banks<\/strong> … – Economic Collapse Blog<\/a> <\/p>\n

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\"bbr1\"<\/a> <\/p>\n

\"bloomberg\"<\/a>
bbr1  Loan Spread Points to Limits on U.S. Housing<\/strong>: Chart of the Day – By Alex Tanzi and Courtney Schlisserman – … average 30-year rate on a jumbo mortgage is about 80 basis points higher … Before July 2007 during the housing boom, the difference was about 20 basis points. …<\/strong> The spread \u201cabsolutely means it\u2019s more difficult for people who own those more expensive homes to sell them and less desirable for homebuilders to build those types of homes,\u201d … – Bloomberg<\/a> <\/p>\n

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\"cnbc-diana-olick\"<\/a>   \"cnbc1\"<\/a> <\/p>\n

video:  FHA: Springing Forward – Diana Olick interviews David Stevens<\/strong> – CNBC<\/a>  – (6% of borrowers taken out of consideration are 31% of their problems)
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\"huliq-news\"<\/a> <\/p>\n

Many Californians Faced with High Taxes on Mortgage Debt Forgiveness<\/strong> – Huliq News<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

  IS THERE MORE DOWNSIDE TO HOUSING PRICES? – Good thoughts here from David Rosenberg on the price of real estate in the United States.  Rosenberg points out that housing is still an excessively high percentage of household assets.  If history is any guide it could mean there is at least another 10% downside in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-459935","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/459935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=459935"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/459935\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=459935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=459935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=459935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}