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The latest news on issues impacting the mortgage market is provided below:
HousingWire
Pipes Output
Updated: 8 min 28 sec ago
Thu, 05/23/2013 - 12:55
Mega bank JPMorgan Chase issued its second private-label RMBS deal of the year, with high geographic concentration as the primary risk posted within the deal.
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Thu, 05/23/2013 - 12:53
Carrington Real Estate Services announced its new mobile online resource for agents, called MyFUELCenter, which was created to increase the productivity of agents and promote business growth through 24/7 access to information, training, supper and business tools.
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Thu, 05/23/2013 - 11:27
Mortgage default and foreclosure law firm RCO Legal is merging with Johnson & Freedman LLC, creating a combined firm that will operate under the name RCO Legal, P.S.
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Thu, 05/23/2013 - 11:18
OceanFirst Bank added two lenders to its commercial lending team, bringing over 44 years of combined experience.
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Thu, 05/23/2013 - 11:15
While there is consensus that real estate is rebounding, how to profit is a different story. Thus, investors are looking to Madison Square Garden not for a basketball game, but a real estate investment.
http://money.msn.com/top-stocks/post.aspx?post=656eee3a-c98d-483f-aa38-800c5c76e3d7
StreetAuthority
Michael Vodicka
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Thu, 05/23/2013 - 10:59
Lloyds Banking Group is planning an auction of roughly $8.7 billion of residential mortgage-backed securities issued before the credit crisis.
http://www.bloomberg.com/news/2013-05-22/lloyds-said-to-plan-8-7-billion-auction-of-u-s-home-loan-bonds.html
Bloomberg
Esteban Duarte: Jody Shenn
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Thu, 05/23/2013 - 10:52
Stocks remained stuck in the red Thursday amid jitters about Fed policy, but the markets bounced off their lows following a better-than-expected housing report.
http://www.foxbusiness.com/markets/2013/05/23/wall-street-hit-by-economic-c-bank-woes/
Fox Business
Adam Samson
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Thu, 05/23/2013 - 10:49
Prospective homebuyers are entering some markets today to find it rife with competition and the pickings slim. While many put off home purchases during the financial crisis, investors dove right in and snapped up all the good buys while they were cheap, writes AOL Real Estate.
http://realestate.aol.com/blog/on/why-real-estate-investors-dominate-housing-market/
AOL Real Estate
AOL Real Estate Editors
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Thu, 05/23/2013 - 10:49
Hershel Malett joins Stearns Lending as vice president of internal audit and mortgage operations, bringing more than 20 years of industry experience to his new role.
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Thu, 05/23/2013 - 10:47
In the last three weeks, Treasury yields have reversed violently as investors have sold bonds and are once again testing the post-low highs set in early March. And this time, Goldman Sachs says the bond market sell-off is for real.
http://www.businessinsider.com/goldman-sachs-bond-sell-off-is-for-real-2013-5
Business Insider
Matthew Boesler
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Thu, 05/23/2013 - 10:36
Mortgage-backed securities issued by Fannie Mae and Freddie Mac plunged after Ben Bernanke left open the possibility that the central bank may begin winding down its debt purchases.
http://online.wsj.com/article/SB10001424127887324659404578499494252696334.html
The Wall Street Journal
Al Yoon
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Thu, 05/23/2013 - 10:22
New Residential Investment Corp. announced that it has co-invested with Nationstar Mortgage in its recent acquisition of mortgage servicing rights.
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Thu, 05/23/2013 - 10:16
An insurer and buyout firm are reportedly considering a buy out of Lender Processing Services, Reuters reports.
http://www.reuters.com/article/2013/05/23/us-lenderprocessingservices-offer-idUSBRE94M01120130523
Reuters
Krithika Krishnamurthy: Greg Roumeliotis
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Thu, 05/23/2013 - 09:49
Primary Residential Mortgage announced it will soon employ Mortgage Cadence’s Orchestrator, a comprehensive enterprise lending system.
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Thu, 05/23/2013 - 09:32
The Office of Inspector General highlighted three major GSE reform proposals on the table and the stakeholders who have offered them. The goal is not to promote a particular policy, but to provide useful information for the coming debates on Capitol Hill.
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Thu, 05/23/2013 - 09:27
New home sales ascended in April, rising to 454,000 homes sold. New single-family home sales inched up 2.3% in April, above the revised March rate of 444,000.
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Thu, 05/23/2013 - 09:02
Ally Financial, along with Residential Capital, took the next step in implementing a comprehensive settlement agreement and Chapter 11 bankruptcy plan by filing a motion seeking court approval.
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Thu, 05/23/2013 - 09:01
The New York Times recently published an article critical of PennyMac. Not unsurprisingly, as the article was passed among trade players on LinkedIn, the voice of objection grew louder and louder. Usually in these cases, some venting is enough to calm the nerves. But not so. Because this time, the article is just plain wrong.
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Thu, 05/23/2013 - 09:01
Lehman Brothers Holdings is planning to sell millions of its shares in AvalonBay Communities and Equity Residential. Lehman gained the shares when it sold Archstone to Equity Residential and AvalonBay in February.
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Thu, 05/23/2013 - 08:58
Fixed-mortgage rates continued to climb for the third straight week, with the 30-year, fixed-rate mortgage slightly increasing to 3.59% from 3.51% last week, Freddie Mac said in a report on Thursday.
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