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  • Tue, Jan 29 2013
  • 4:25 PM » Wells Fargo's Mortgage Revenue to Drop 18 Percent, Staite Says
    Published Tue, Jan 29 2013 4:25 PM by Business Week
    Wells Fargo's Mortgage Revenue to Drop 18 Percent, Staite Says Businessweek Wells Fargo & Co. (WFC), the largest U.S. home lender, may see an 18 percent drop in mortgage revenue this year as profit from selling loans shrinks, according to Richard Staite, an analyst at Atlantic Equities LLP. Revenue from mortgage production, without ... and more »
    Click Here to Read the Full Article

    Source: Business Week
  • 3:12 PM » NAR: Falling Home Ownership Rate
    Published Tue, Jan 29 2013 3:12 PM by National Association of Realtors
    The home ownership rate fell again in the third quarter of 2012. The latest 65.3 percent ownership rate (seasonally adjusted figures) is the lowest since 1996, when Bill Clinton was campaigning for his re-election. But there is good news in the data as related to ownership. The number of homeowners grew for the second consecutive [...]
    Click Here to Read the Full Article

    Source: National Association of Realtors
  • 3:12 PM » Senators question Justice Dept. on big bank probes
    Published Tue, Jan 29 2013 3:12 PM by Market Watch
    WASHINGTON (MarketWatch) - Two senators - a Democrat and a Republican - on Tuesday questioned the Department of Justice about whether the powerful status of large Wall Street financial institutions makes it difficult to prosecute wrongdoing and impose appropriate penalties. "Wall Street megabanks aren't just too big to fail, they're increasingly too big to jail," said Sen. Sherrod Brown, democrat of Ohio, in a statement. Brown and Sen. Chuck Grassley, republican of Iowa, sent a letter to U.S. Attorney General Eric Holder arguing that many settlements between large banks and the federal government involve penalties that are "disproportionately low." They also said that the nature of the settlements has raised concerns that big banks "enjoy a favored status in statute and in enforcement policy." Grassley said there has been little willingness to charge individuals involved in the financial crisis criminally. He added that the public deserves an explanation for how the Justice Department arrives at these decisions.
  • 2:46 PM » Treasury's Stegman Says U.S. Will Expand Underwater Mortgage Aid
    Published Tue, Jan 29 2013 2:46 PM by Bloomberg
    Treasury's Stegman Says U.S. Will Expand Underwater Mortgage Aid Bloomberg The Obama administration will work to refinance mortgages for so-called underwater borrowers with loans in private-label securities, U.S. Treasury Department official Michael Stegman said today in a Las Vegas speech. Treasury may act unilaterally to aid ...
  • 2:46 PM » Fix Home Lending Before the Next Bubble
    Published Tue, Jan 29 2013 2:46 PM by Bloomberg
    Fix Home Lending Before the Next Bubble Bloomberg It's odd that President Barack Obama didn't mention housing in his second inaugural address. After all, he spent his first term in the shadow of a housing meltdown, and remaking federal housing policy remains a central piece of unfinished business.
  • 1:12 PM » Pimco Doesn't See Fed Changing Course
    Published Tue, Jan 29 2013 1:12 PM by WSJ
    Tony Crescenzi, senior rate strategist at Pimco, says the Fed's unlikely to change course at the two-day FOMC meeting that begins today.
  • 12:58 PM » Homeownership rate slips, rental vacancies up
    Published Tue, Jan 29 2013 12:58 PM by Reuters
    WASHINGTON (Reuters) - The share of privately owned homes edged down in the fourth quarter and rental vacancies rose, government data showed on Tuesday, underscoring the challenges still confronting the housing market recovery.
  • 12:58 PM » ResCap Delays Closing Its Sale to Ocwen Until Feb. 15
    Published Tue, Jan 29 2013 12:58 PM by Business Week
    ResCap Delays Closing Its Sale to Ocwen Until Feb. 15 Businessweek Residential Capital LLC, the mortgage company liquidating assets in bankruptcy, delayed closing the $3 billion sale of its main business to Ocwen Loan Servicing LLC to Feb. 15, a lawyer said today. The extra time will allow ResCap and government-owned ...
    Click Here to Read the Full Article

    Source: Business Week
  • 12:58 PM » Democrats Try Again to Spur Refinancing to Bolster U.S. Housing
    Published Tue, Jan 29 2013 12:58 PM by Bloomberg
    Democrats Try Again to Spur Refinancing to Bolster U.S. Housing Bloomberg Underwater homeowners may get additional federal assistance for refinancing government-backed loans under a proposal being revived in the U.S. Senate. Democratic Senators Robert Menendez of New Jersey and Barbara Boxer of California plan to ... and more »
  • 12:56 PM » Guess Who's Driving the Demand for Rental Apartments?
    Published Tue, Jan 29 2013 12:56 PM by CNBC
    As housing and the greater economy improve, a shift in demographic trends will likely favor the rental apartment market for the foreseeable future. It is all about women.
  • 12:56 PM » QE Program a 'Disaster', Say Saving and Pension Groups
    Published Tue, Jan 29 2013 12:56 PM by CNBC
    The policy of quantitative easing pursued by the Bank of England since 2008 has hurt the nation's savers and any further stimulus would have marginal benefits, according to evidence heard by U.K. policymakers.
  • 10:09 AM » Consumer Confidence Fell Much Further Than Expected in January
    Published Tue, Jan 29 2013 10:09 AM by CNBC
    The January consumer confidence reading fell to 58.6.
  • 9:28 AM » D.R. Horton Profit More Than Doubles as Market Rebounds
    Published Tue, Jan 29 2013 9:28 AM by Bloomberg
    D.R. Horton Profit More Than Doubles as Market Rebounds Bloomberg D.R. Horton Inc. (DHI), the largest U.S. homebuilder by volume, said fiscal first-quarter profit more than doubled as demand for new houses climbed in a recovering real estate market. Net income was $66.3 million, or 20 cents a share, for the three months ...
  • 9:22 AM » Home prices continue to climb in November: S&P/Case Shiller
    Published Tue, Jan 29 2013 9:22 AM by Reuters
    NEW YORK (Reuters) - Single-family home prices rose in November, building on a string of gains that points to a housing market that is on the mend, data from a closely watched survey showed on Tuesday.
  • 9:21 AM » Real Estate Is in a 'Goldilocks Period': Sternlicht
    Published Tue, Jan 29 2013 9:21 AM by CNBC
    The spread between low interest rates and the money real estate generates is "truly astonishing," Starwood Capital CEO Barry Sternlicht told CNBC.
  • 7:31 AM » Bernanke Seen Buying $1.1 Trillion in Bonds by Early 2014
    Published Tue, Jan 29 2013 7:31 AM by Bloomberg
    Bernanke Seen Buying $1.1 Trillion in Bonds by Early 2014 Bloomberg Federal Reserve Chairman Ben S. Bernanke's latest round of bond buying will reach $1.14 trillion before he ends the program in the first quarter of 2014, according to median estimates in a Bloomberg survey of economists. Bernanke will push on with ...
  • 7:22 AM » US Stocks Seen Lower as Fed Eyed
    Published Tue, Jan 29 2013 7:22 AM by CNBC
    U.S. stock index futures pointed to a lower open on Tuesday, with investors cautious ahead of the Federal Reserve's announcement on monetary policy on Wednesday.
  • 7:21 AM » Information Sharing Among Federal Home Loan Banks
    Published Tue, Jan 29 2013 7:21 AM by www.federalregister.gov
    Section 1207 of the Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Home Loan Bank Act (Bank Act) to require the Federal Housing Finance Agency (FHFA) to make available to each Federal Home Loan Bank (Bank) information relating to the financial condition of all other Banks. Section 1207 also requires FHFA to promulgate regulations to facilitate the sharing of such information among the Banks. FHFA published a proposed rule to implement those HERA provisions in late 2010, but, after reviewing the comments and reconsidering the proposed means of information sharing, FHFA has determined that a number of material changes to the rule are necessary. Therefore, it is publishing this second proposed rule to implement the provisions of section 1207.
    Click Here to Read the Full Article

    Source: www.federalregister.gov
  • 7:21 AM » FDIC Announces New Members for the Advisory Committee on Community Banking
    Published Tue, Jan 29 2013 7:21 AM by content.govdelivery.com
    Press Release FDIC Announces New Members for the Advisory Committee on Community Banking FOR IMMEDIATE RELEASE January 29, 2013 Media Contact: David Barr (202) 898-6992 Email: dbarr@fdic.gov   The Federal Deposit Insurance Corporation (FDIC) has announced the selection of eight new members for its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around the country. "We are fortunate to have such talented and dedicated community bank leaders join our Advisory Committee, which has been a valuable resource for the FDIC over the last few years,” said FDIC Chairman Martin Gruenberg. “The Advisory Committee has proven to be a key source of information and input for the FDIC on the many significant issues facing community banks," Gruenberg said. The Advisory Committee on Community Banking discusses and provides input to the FDIC on a wide variety of topics, including current examination policies and procedures, credit and lending practices, deposit insurance assessments, insurance coverage and regulatory compliance. The new members of the Advisory Committee are: Cynthia L. Blankenship, Vice President and COO, Bank of the West, Grapevine, Texas Leonel Castillo, President and CEO, American Bank of Commerce, Provo, Utah Jane Haskin, President and CEO, First Bethany Bancorp. Inc., Bethany, Oklahoma Mark Hesser, President, Pinnacle Bank, Lincoln, Nebraska James Lundy, Chief Executive Officer, Western Alliance Bank, Phoenix, Arizona Kim D. Saunders, President, CEO and Director, Mechanics & Farmers Bank, Durham, North Carolina David Seleski, President, CEO and Director, Stonegate Bank, Fort Lauderdale, Florida Derek Williams, President and CEO, First Peoples Bank, Pine Mountain, Georgia The new members...
    Click Here to Read the Full Article

    Source: content.govdelivery.com
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