Freddie Mac $11 billion annual net income indicates improving housing market --

The government-sponsored enterprise also reported net income of $ 4.5 billion for the fourth quarter of 2012, compared to net income of $ 2.9 billion from the previous quarter. 

 

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FHA housing mortgages decrease with budget cuts --

“Given the still-moderate underlying pace of economic growth, this additional near-term burden on the recovery is significant,” Federal Chairman Ben S. Bernanke said in congressional testimony this week. The cuts will have “effects on jobs and incomes,” he said.

Bloomberg

Kathleen M. Howley

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RealtyTrac: Foreclosure sales uneven across the nation --

RealtyTrac, the leading online marketplace, reported a 6% decline in foreclosure of properties sold in 2012 from 2011. Foreclosure related sales accounted for 21% of all sales in 2012, which is down from 23% in 2011.

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Fed’s Fisher: Continued QE runs “risk of overkill” --

“The fact that the housing-market gears have now begun to mesh is why I believe we are running the risk of overkill by continuing our mortgage-backed securities purchase program at the current pace and would suggest tapering off those purchases,” said Richard Fisher, president and CEO of the Federal Reserve Bank of Dallas.

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Short sales completed as part of servicing settlement create market momentum --

After reviewing data from the nation’s top servicers, American Banker’s sees short sales as the solution the market will most likely lean on.

American Banker

Alexander R. M. Boyle

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