Royal Bank of Scotland pulls petty mortgage stunt

Royal Bank of Scotland pulls petty mortgage stunt

Here's why we shouldn't be surprised

Foreclosure timelines in California, Nevada stay lengthy

Moody’s: Gradual decline to start in early 2016

What immigration reform means for housing

Growth potential among immigrants is substantial
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Investments

Boston’s top 7 suburbs

The best neighborhoods for home value growth at every price point
Trey Garrison
HousingWire is teaming with BuildZoom to identify the neighborhoods in major metros with the best home value appreciation. Here's how Old Towne breaks out.
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SFR transactions a low risk of inducing downward price spirals

Moody’s: Failure to refi won’t result in forced sell-off
Trey Garrison
A steep drop in home prices would reduce liquidation recoveries in single-family rental securitizations if the transactions must sell properties to repay bondholders, but the risk that a transaction sponsor’s failure to refinance its loan would itself trigger a widespread property price decline that would in turn harm the transaction’s recoveries is low.
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Freddie Mac to make loan-level loss data available to investors

Aims to increase transparency in credit risk-sharing offerings
Ben Lane
"It is important for investors to have this expanded view of credit risk, especially as we continue to grow and evolve our credit risk offerings,” said Kevin Palmer, vice president of single-family strategic credit costing and structuring for Freddie Mac.
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Court rulings in unpaid HOA fees raise risk in RMBS, SFR deals

Moody’s: Newer deals have provisions to mitigate risk
Trey Garrison
A new report from Moody’s Investors Service spotlights how recent rulings by the highest courts in Nevada and Washington, D.C. on unpaid HOA fees raise risk in residential mortgage-backed securities and single-family rental securitizations.
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Fannie Mae partners with Detroit to demolish foreclosed homes

GSE will sell vacant properties to Detroit Land Bank
Ben Lane
In what the parties are calling an “initial transaction,” Fannie announced that it will sell 44 foreclosed properties to the Detroit Land Bank Authority “for a nominal fee,” and contribute funds for the demolition of some of the properties.
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Lag in housing starts, employment drag on October economy

Chicago Fed index shows slowing economic activity
Trey Garrison
The economy slowed in October, with much of the drag coming from a weakness in housing and consumption and a slowdown in employment growth and production.
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Will housing headwinds flatten home sales?

Auction.com: Market maintaining current momentum
Trey Garrison
Auction.com’s Nowcast report projects that existing home sales for November will fall between seasonally adjusted averages of 5.05 and 5.46 million annual sales, with a targeted number of 5.25 million.
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Home prices dropped in September for the first time since January

Black Knight: Drop was miniscule but present
Trey Garrison
At the national level, Black Knight’s September home price index reports that U.S. home prices were down slightly in September - the first time any decrease had been observed since January 2014.
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Monday Morning Cup of Coffee: Mortgage giants warm to principal reduction?

Also 2015 housing finance forecasts galore and key mortgage industry metrics
Trey Garrison
Is principal reduction about to become more common? Who hit the bulls-eye in forecasting 2014, and who just offered bull? And of those hawkeye prognosticators, what do they have to say about 2015? Get it here and get it early.
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$4.8 billion portfolio of Fannie, Freddie MSRs hits market

Available from “a highly reputable mortgage banking company”
Ben Lane
"These offerings provide an excellent opportunity to finish off your year with the purchase of a substantial amount of extremely low interest rate, high quality MSRs from a highly reputable mortgage banking company," said Interactive Mortgage Advisors, which is acting as the exclusive broker for the seller.
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