most newly originated Agency mortgages are underwritten

scottm1207 | Dec 26, 2012 10:14 AM ET And the Gubmint keeps trying to interfere with perfectly good markets to make the unreal, real. Keep blasting money out there on borrowed time and false promises. Massively priming the pump with trillions in borrowed and printed dollars when there is declining demand and a continually declining economy due to Obamanomic smoke and mirrors is only a Potemkin Village economy. The war on prosperity and the faith that "spreading the wealth" doesn`t really destroy wealth is going to screw us all, and the Democrats just hope they can hook enough people on unreversible government dependency so they can sustain power in a Soviet-style system where freedom, choice and happiness are doled out by corrupt, crony bureaucrats. The fervent Fundamentalist Statist belief that these dipknobs in Washington know better%

McBob79 | Dec 26, 2012 10:16 AM ET But foreclosures are also taking off. What does that mean?

CautiousInvestor | Dec 26, 2012 10:31 AM ET This is OLD NEWS since it reflects October prices. It doesn`t reflect the December slowdown in retail sales, the drop in consumer confidence, the aftermath of Hurricane Sandy and the Fiscal Cliff. So it is a useless indicator.

BrianBallsOfSteel | Dec 26, 2012 10:36 AM ET csw, most newly originated Agency mortgages are underwritten with decent financial requirements...with home values far below where they were... they are, as a basket of mortgages, a pretty safe investment... I ask again...where do you get the idea that the fed is buying "bad MBS`s"? I think you are living in the past...

CautiousInvestor | Dec 26, 2012 10:36 AM ET @McBob79 - Permit me to explain: one of the reasons for elevated housing prices has been the artificial prevention of foreclosures during the past year as a result of the government legal actions (both by State AGs and by the U.S.) over the Robo-signing scandal, etc. Now that settlements have been reached, the banks are going to be bringing those distressed properties back onto the market either through properly handled foreclosures or through short sales. So you should see a rise in both those categories in the next 18 months.

BrianBallsOfSteel | Dec 26, 2012 10:40 AM ET McBob79, foreclosures are taking off? where do you get your data? U.S. foreclosure starts were down 13 percent from the previous month and down 28 percent from a year ago to the lowest level since December 2006 €” a 71-month low.

NewDay12 | Dec 26, 2012 11:46 AM ET Does this mean I get more minutes on my Obama phone?

antisocial | Dec 26, 2012 11:48 AM ET BANKS NOT GOING TO TELL YOU HOW MANY FORECLOSURES THEY HAVE IN THEIR BANCE SHEETS... BELIEVE IT, ITS MORE THEN ANYONE THINKS... THERE IS NO HOUSING RECOVERY GOIN ON. REALTORS WANT YOU TO BELIEVE THAT, BECAUSE THEY`RE STARVING AND WANT YOU TO BUY...

BrianBallsOfSteel | Dec 26, 2012 11:59 AM ET Antisocial, you have no idea what you are talking about. I dont know where you live, but housing is selling fast here in texas...new subdivisions going up...old homes selling, spec houses being built... although to be honest, it never really slowed down that much...

rjd65 | Dec 26, 2012 12:40 PM ET The lying will never stop will it? Face it, the USA is an epic fail in any category you want to measure, and it will only get worse. The truth hurts doesn`t it, but until you face it head on, your prospects are nil.






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most newly originated Agency mortgages are underwritten

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