The real reason Fannie and Freddie don't do principal modifications

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
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Investments

The dirty, possibly anti-trust secret Zillow/Trulia don’t want you to know

Citron Research: This powerhouse isn’t really either
July 29, 2014
The media consensus has been that the Zillow/Trulia acquisition creates a powerhouse – a model village, so to speak, of real estate online listings. But Citron Research says that this may be more of a Potemkin village.
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Case-Shiller: Home price gains declined in May 0.3%

Only Tampa and Charlotte saw price gains accelerate
July 29, 2014
Home prices growth continued to slow in May as housing and the economy continues weakening trends, according to data through May 2014 in the S&P/Case-Shiller Home Price Indices show housing prices posted a decline of 0.3% from April.
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The real reason Fannie and Freddie don't do principal modifications

Looking out for your retirement
July 29, 2014
Why is the government resisting principal mods? Because there is one big investor in MBS that the government is worried about – pension funds.
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$640 million in subprime-boom bonds coming to market

Two lists of “major” non-agency RMBS to bid separately
July 28, 2014
"My sense is that this is related to general risk reduction ahead of Wednesday’s FOMC announcement, Friday’s non-farm payroll report, and month end," David Varano of Interactive Data said. "Additionally, this could also be driven by certain investors looking to test the market after it appeared to easily absorb those two massive bid lists last week in order to gauge current demand levels."
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American Capital beats estimates by $0.19

REIT reports earnings per share of $0.87 in 2Q14
July 28, 2014
The company’s second quarter earnings were up from $0.71 in 1Q14.
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Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
July 28, 2014
“But there are enough other positive signs that I am not altering my favorable forecast. If housing continues to be weak, I will probably have to change my view.”
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FHFA considering plan to offer single Fannie, Freddie bonds

Report on Common Securitization Platform may be coming soon
July 28, 2014
During his May speech at the Brookings Institute, FHFA Director Mel Watt said that adjusting the way Fannie and Freddie securitize mortgages was one of his key goals. Now it appears that the FHFA may be one step closer to accomplishing that goal.
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Here’s why the week ahead will make or break housing and the economy

FOMC, initial 2Q GDP and jobs report will put the stamp on 2014
July 28, 2014
The best directions in the world won't help you get somewhere if you don't know where you are standing. We could do without the media spin on the economy and housing.
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S&P: Prime jumbo RMBS advance rates nose-dive

Subprime rates stabilize
July 28, 2014
"Bank servicers, such as Wells Fargo and JPMorgan Chase, have maintained a high (more than 90%) level of advancing on prime jumbo collateral," the analysts write. "However, nonbank servicers, such as Nationstar and Ocwen, have advance rates that are substantially lower and have been steadily declining over the past six months."
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Invitation Homes bringing third REO-to-rental securitization to market

Asset class becoming more popular
July 28, 2014
Of note in the presale report is the vacancy rate of the underlying properties, which stands at 4.4% as of the cutoff date. That’s lower than the vacancy rate in Invitation Homes’ previous SFR securitization in 2014, which was 5.1%, but still far above the vacancy rate of any of the other rental securitizations this year.
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