According to Barclays, the majority of the increase came in the form of conventional agency MBS holdings, which increased by $11.9 billion in the third quarter. Agency collateralized mortgage obligations increased $5.4 billion, while Ginnie Mae holdings were down by $3.7 billion.
While the Federal Reserve has been playing "buyer of last resort" in snapping up agency mortgage-backed securities throughout the crisis and beyond -- through three successive rounds of so-called quantitative easing -- the government hasn't been the only buyer.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..
Typically, for a process and a product that depends largely on human effort, if you want a higher quality product, you have to pay more. The best doctors, chefs, mechanics and attorneys all make more than the market average. Nevertheless, lenders, AMCs and Fannie Mae all expect appraisal quality to increase even as appraiser fees decrease. Read More