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SUBSCRIBE ? Volume 12 | Issue 115 | Friday, June 14, 2013
The Lede
Census: White Deaths Outnumber Births for First Time
Analysis of Census Bureau data shows that the largest population group in the U.S.?non-Hispanic whites?saw death rates exceed births in 2012, while Asians and other minority groups saw sizeable increases.
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Top National News

Residential Finance News

Commercial/Multifamily News

MBA News

Article Abstracts

Top National News
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Foreclosures Jump as Banks Bet on Rising Home Prices: Mortgages
Bloomberg BusinessWeek, June 13, 2013--Levy, Dan; Perlberg, Heather
Home repossessions in the U.S. jumped 11 percent in May after declining for the previous five months as rising prices and limited inventory for sale across the country spurred banks to complete foreclosures.
(More) 

30-Year Fixed Mortgage Rates Jump Close to 4%
Associated Press, June 13, 2013--Gordon, Marcy
Fixed mortgage rates rose for the sixth straight week, finishing just under 4 percent.
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Are Banks Cooking Up Another Financial Crisis?
Business Superstar, June 13, 2013--Morici, Peter
The author says Wall Street could be causing problems by making "shoddy loans" and selling "worthless securities" for higher yields than CDs and government bonds offer.
(More)

5 States with Highest Foreclosure Rates
MarketWatch, June 13, 2013--Fottrell, Quentin
Foreclosure rose in May said RealtyTrac, as banks try to catch up with backlog of delayed foreclosures.
(More)

Blankfein Says Doubt Over Rate Move May Avoid Jarring Market
Bloomberg, June 13, 2013--Moore, Michael J.
Goldman Sachs Group CEO Lloyd Blankfein said debate over when the Federal Reserve might raise interest rates could help market avoid a "jarring surprise."
(More)


Residential Finance News
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Retail Sales Pick Up; Inflation 'Contained'
The Census Bureau yesterday said advance estimates of U.S. retail and food services sales for May improved to $421.1 billion, an increase of 0.6 percent from April and 4.3 percent higher than a year ago.
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Residential Briefs
HUD closed its offices nationwide today (June 14) as a result of government-wide automatic spending cuts that took effect on March 1.
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Commercial/Multifamily News
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Property Prices Increase, Led by Apartments
Property prices rose 40 basis points in April, led by apartments, reported Moody's Investors Service and Real Capital Analytics, New York.
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Dealmaker of the Day
Centerline Capital Group, New York, provided an $11.4 million Fannie Mae loan to refinance Auburn Manor, an apartment community in Riverdale, Md.
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MBA News
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MBA Annual Mortgage Bankers Performance Report Now Available
The Mortgage Bankers Association is pleased to announce release of its Annual Mortgage Bankers Performance Report--2012 Data.
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CampusMBA School of Mortgage Banking Course III June 18-21
CampusMBA, the education division of the Mortgage Bankers Association, presents its popular School of Mortgage Banking Course III in Washington, D.C., June 18-21.
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CampusMBA Compliance Essentials Series Continues June 20
CampusMBA, the education division of the Mortgage Bankers Association, continues the second package of its MBA Compliance Essentials program this Thursday, June 20.
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Quote

"We're deep into uncharted territory. Amazingly low mortgage rates, a razor-thin inventory of homes for sale and the release of years' worth of pent-up demand. Plus there's a seemingly endless stream of investors and non-investors who pay cash and thereby avoid the loan-qualification process. How this all plays out is educated guesswork at this point."
--John Walsh, president of DataQuick, San Diego.

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