Truth is, those recent housing numbers aren't so shiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?

This man pretends to be a Realtor and no one can stop him

Canadian fines don’t seem to slow down Derek Johnson

The top 10 critical issues facing GSE reform

Urban Institute: Reform in limbo
W S

Investments

Chicago FHLB launches Ginnie Mae MBS program

Gives small banks access to secondary mortgage market
Brena Swanson
The Federal Home Loan Bank of Chicago will soon launch its new program that allows members to originate and sell government-backed loans into Ginnie Mae mortgage-backed securities.
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Multifamily housing starts soar while single-family permits remain flat

Starts and permits up but gains driven more by apartments, not homes
Trey Garrison
After plunging in June, housing starts and housing permits recovered in July, printing at 1,093,000 and 1,052,000, respectively. The bad news is that almost all of those gains from June to July are in multifamily rental housing.
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RealtyTrac: Cash purchases disappearing from home sales

Institutional investors keep cooling down
Ben Lane
“The flurry of purchases by institutional investors and other cash buyers that kicked off two years ago when U.S. home prices hit bottom is finally showing signs of subsiding,” said Daren Blomquist, RealtyTrac vice president, noting that the U.S. median home prices bottomed out in March 2012.
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Compass Point: Refi burnout hurting Walter Investment

Reiterates “sell” rating and lowers target price by 20
Ben Lane
Citing increasing operating costs and declining profit margins, Compass Point Trading & Research said that Walter Investment is headed towards a poor 2014 and an even worse 2015.
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American Residential prices first REO-to-rental securitization

Latest in up-and-coming asset class
Ben Lane
American Residential Properties REO-to-rental securitization received $184.89 million in AAA ratings from Morningstar in its presale report. Now American Residential has priced its first securitization.
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$366 million in subprime-boom bonds coming to market

Big names scheduled to trade Tuesday
Ben Lane
Of note in the breakdown of the bond pool are some notorious names from the subprime lending boom, including: Ameriquest Mortgage, Countrywide Financial, Bear Stearns, Goldman Sachs, JPMorgan, and Citigroup.
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Rental market spurs bank competition

Keeps credit lines competitive
Brena Swanson
The birth of a bond market backed by the properties is compelling banks to lend more cheaply to firms like Starwood Waypoint Residential Trust.
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Pershing Square sues US for Fannie Mae and Freddie Mac

Shortchanges investors
Brena Swanson
Pershing Square Capital Management has sued the U.S. government, claiming that the government's stripping of Fannie Mae's and Freddie Mac's profit illegally shortchanges investors.
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Fed's Kocherlakota: Labor market still shy of FOMC goal

People aged 25 to 54 still not working
Brena Swanson
According to Narayana Kocherlakota, the president of the Minneapolis Fed, the labor market still has room to improve before reaching the FOMC's goal of full employment.
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Wall Street returns to buying risky mortgages?

News doesn't always reflect reality
Brena Swanson
Due to the constant news following the recovery, an article in Yahoo made the point that when sifting through the financial pages these days, it’s hard to figure out if America is still agonizing over the crisis or wringing hands about the chances for the next one.
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