No Increase in Fannie Delinquency for Nearly 2 Years

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New business acquisitions tumbled last month at Federal National Mortgage Association. But late payments on residential loans improved again and have been lower each of the past 23 months. Past-due payments on apartment loans also fell.

Secondary volume was down 20 percent between December 2011 and January 2012 at Fannie Mae. Activity fell 13 percent compared to January 2011.

Fannie Mae’s book of business continued to diminish, finishing last month down $40 billion from the same month last year.


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No Increase in Fannie Delinquency for Nearly 2 Years

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Freddie Raises G-Fee to Cover Payroll Taxes

Author:  //  Category: Mortgage

The cost of recently passed legislation that extends a payroll tax cut will be paid by borrowers on agency loans, and Freddie Mac is now notifying its approved sellers of increased guarantee fees.

On Dec. 23, 2011, the Temporary Payroll Tax Cut Continuation Act of 2011 was signed into law by President Obama.

The law temporarily continues the reduction of the Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through today.


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Distorted M.I. Data Indicate Decline in New Business

Author:  //  Category: Mortgage

Business was slower for the third consecutive month at the nation’s mortgage insurers, while delinquency was lower. But the numbers were distorted by the exit of another mortgage insurer from the sector’s primary trade group.

The number of mortgage insurance policies written by members of the Mortgage Insurance Companies of America fell 3 percent between December and January.

However, last month’s total excluded Republic Mortgage Insurance Co., which was included in the December data. The elimination of Republic’s numbers follows last year’s exits from the trade group by United Guaranty Corp. and PMI Mortgage Insurance Co.


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R.E. Fraud Complaints Diminish as ID Theft is Top Category

Author:  //  Category: Mortgage

More complaints were filed by consumers for identity theft than any other type of fraud last year as the number of complaints in the category grew 5 percent. One good sign is that the share of complaints about real estate fraud is diminishing.

U.S. consumers filed 38,140 complaints against mortgage foreclosure relief and debt management firms in 2011.

While complaints about foreclosure-rescue services accounted for 2 percent of all complaints, the category wasn’t even among the 10-worst.


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R.E. Fraud Complaints Diminish as ID Theft is Top Category

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PRESS DIGEST – Wall Street Journal – Feb 29

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… disclosures of the risks of subprime mortgage bonds tied to the financial …

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It may not be fashionable to say so, but but things are looking up for Britain Plc

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sub-prime mortgage lending scandal, aided by shrinking numbers of repossessions and low mortgage

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It may not be fashionable to say so, but but things are looking up for Britain Plc

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Newspaper Briefing, including ‘Tax burden on oil explorers will cost Treasury tens of billions’ – Daily Mail

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… $1.3 billion offering of sub-prime mortgage securities. The American investment bank … , insurance and mortgage deals: Complaints to the financial ombudsman over mortgages, life …

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Newspaper Briefing, including ‘Tax burden on oil explorers will cost Treasury tens of billions’ – Daily Mail

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Metro AG plans to open at least 10 stores in China this year

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… for USD 1.3bln of subprime mortgage-backed bonds. Co. had 54 days …

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Metro AG plans to open at least 10 stores in China this year

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Why Banks Are Reluctant To Foreclose On Expensive Homes

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… at the height of the subprime bubble, expensive homes are much … government-controlled mortgage giants, have set strict foreclosure timelines and will fine mortgage … the WSJ that it requires mortgage servicers to “explore every possible …

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SEC puts Goldman on notice

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… by civil cases relating to sub-prime mortgage securities. Goldman said in a …

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