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Downside for House Prices
House prices are likely to go down
during the first half of 2011 and then rebound in the second half,
according to many forecasters.
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Mortgage
REIT Set to Hit Market with Huge Offering
Annaly Capital Management Tuesday
morning said it would raise almost $1.3 billion in new equity by selling
75 million shares of common at an offering price of $17.20 each.
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Servicers May Cut a Deal with AGs
The five largest servicers of
residential mortgages – including Bank of America and Wells Fargo &
Co. – may be the first to settle with 50 state attorneys general
who are investigating foreclosure practices, according to combined press
reports.
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Some
May Balk at GSE Settlements
While there are likely to be more
settlements between the government-sponsored enterprises and mortgage
lenders, a report from Keefe, Bruyette & Woods said the price of a
settlement “might be too high for some originators who believe that
their underwriting standards were strong.”
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‘Shorts’
Up 49% in South Florida
There was no shortage of short-sale
transactions last year in South Florida.
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MBA
to Fed: Ease Up On Branch Manager Compensation
The Mortgage Bankers Association wants
the Federal Reserve to ease up on its compensation rules allowing
production managers who originate loans to share in the profits of their
branch office.
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ASG:
Even Borrowers with Good Payment History May Default
Homeowners with negative equity on
non-agency loans are vulnerable to default even in cases where they have
a history of making their payments on time, according to a new report
from Amherst Securities Group.
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TPG
Set to Close Purchase of MDA Property Information Business
The sale of the MacDonald, Dettwiler and
Associates U.S. and U.K. property information business to private equity
group TPG Capital will close Tuesday, multiple sources confirmed to
Mortgage Technology.
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CSBS
Seeks Coordination with CFPB
The Conference of State Bank Supervisors
has signed a memorandum of understanding with the Consumer Financial
Protection Bureau’s implementation team as a starting point in an effort
to coordinate supervision between the two.
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Wind, Kislak has Big Plans, Despite Declining Refis
The way Tom Wind of J.I. Kislak Mortgage
sees it, dozens of mortgage banking firms will fold their tents this
year as refinancings wane, but his young firm will more than quadruple
its loan originations this year.
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Tower
Pulls Plug on Mortgage Unit
Tower Bancorp Inc. of Harrisburg, Pa.,
is discontinuing the operations of a mortgage division that belonged to
First Chester County Corp., a bank it bought last month.
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Quorum
FCU Inks $20 Million Timeshare Receivables Deal
Quorum Federal Credit Union, Purchase,
N.Y., has entered into a timeshare receivables purchase facility with
Bluegreen Corp. of Boca Raton, Fla., allowing the CU to buy timeshare
receivables on a non-recourse basis.
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