Activist investors critique Zillow, Trulia deal

Activist investors critique Zillow, Trulia deal

Valuations skyrocket while earnings expectations have fallen

CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet

4 factors weighing down housing in the second half of 2014

Will housing collapse?
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Articles by Ben Lane

Two Harbors brings $268 million prime jumbo RMBS to market

Agate Bay Mortgage Trust 2014-1 receives AAA ratings from S&P
July 31, 2014
Standards & Poors Ratings Services has awarded primarily AAA ratings to the securitization’s classes due to the high quality of the collateral, among other positive indicators.
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Multifamily, commercial mortgage loans jump 34% in 2Q14

But still down 2% from 2013
July 31, 2014
Multifamily originations were down 10% over 2013's second quarter, but up 32% over the first quarter of 2014.
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Could the post office get into the mortgage business?

It’s not as crazy as you might think
July 29, 2014

For consumers, having a little more choice in banking wouldn’t be the worst thing in the world. We’ve certainly seen what banks can do when left to their own devices. But on the other hand, it’s not like the post office is a bastion of economic excellence either.


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New legislative proposal would turn the post office into a bank

USPS could offer small loans, other banking services
July 29, 2014

Representative Cedric Richmond, D-La., has introduced a bill, called The Providing Opportunities for Savings, Transactions and Lending Act (or POSTAL Act, because it just had to have the catchy acronym), which would allow the USPS to offer "basic financial services."


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U.S. REO Partners names Mary Brill managing partner

Joins after 16 years at JPMorgan Chase
July 29, 2014
Brill joins USREOP from JPMorgan Chase, which she had been with since 1998. During her time at JPMorgan Chase, she held several positions, including REO manager, assistant vice president and senior operations analyst.
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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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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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Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan
July 28, 2014
"Julián has lived the American Dream in his own life, and I’m confident he will help Americans across our country seize their own piece of that dream for themselves and their children," President Barack Obama said when Castro was confirmed by the Senate earlier this month.
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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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