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SUBSCRIBE ? Volume 12 | Issue 15 | Wednesday, January 23, 2013
The Lede
MBA Economic/Mortgage Finance Commentary: Cliff Avoided, Growth Continues
Despite steps to avoid even larger tax increases for most U.S. households, growth in the first half of 2013 is still expected to be slow as the effects of the payroll tax increase and spending cuts from sequestration or a similar decline in government spending kicks in.
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Top National News

Residential Finance News

Commercial/Multifamily News

MBA News

Article Abstracts

Top National News
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U.S. Senator Corker Urges Regulators to Simplify Mortgage Rule
Reuters, Jan. 22, 2013
The Tennessee Republican said Qualified Residential Mortgage definition should be crafted to make market less dependent on government backing.
(More)

Mortgage Originations Hit $1.75 Trillion
San Francisco Chronicle, Jan. 22, 2013
Mortgage Bankers Association says value of home originations at highest level since 2009.
(More)

KB Home Forming Mortgage Firm for Buyers with Nationstar
Bloomberg, Jan. 22, 2013--Gopal, Prashant
The Los Angeles-based home builder entity will be known as Home Community Mortgage LLC; Nationstar is its preferred lender since MetLife Inc. said it would close its originations operations.
(More)

Mixed Views on Mortgage Banking
Housing Wire, Jan. 22, 2013--Mylinski, Christina
Refinancing activity driving robust fourth quarter earnings.
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Attorney General Wants Extension on Mortgage Helpline Information
RadioIowa, Jan. 22, 2013--Danielson, Dar
Iowa AG Tom Miller wants law requiring creditors to informed homeowners about state's Mortgage Help Hotline extended another year.
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Residential Finance News
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Mortgage Applications Increase for 3rd Straight Week in MBA Weekly Survey
Mortgage applications rose for the third straight week to start the new year as key interest rates remained virtually unchanged, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending January 18.
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December Existing Home Sales Dip, but Trend Points Positive
Existing home sales fell in December, the National Association of Realtors reported yesterday, but total sales in 2012 reached their highest level in five years.
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Reverse Outsourcing--aka 'Back to America'
We will look back five years from now and ask, "Who were the pragmatic leadership teams who took advantage of market changes using reverse outsourcing?" For the others, they will be forgotten to time and a footnote within a history book.
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Commercial/Multifamily News
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Avison Young: Stability and Opportunity in 2013
Stability and opportunity will drive Canada's CRE markets in 2013, while many U.S. markets offer a balance of risk and opportunity, reported Avison Young, Toronto, Ontario.
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Dealmaker of the Day
Cohen Financial, Chicago, secured $11.6 million in acquisition financing for a 462,000-square-foot, multi-tenant industrial property in Kentwood, Mich. 
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MBA News
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CREF '13 Less than Two Weeks Away
The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2013 takes place February 3-6 at the Manchester Grand Hyatt in San Diego.
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Participate in MBA/STRATMOR Peer Group Program
The Mortgage Bankers Association/STRATMOR Peer Group Program, now in its 13th year, creates a forum for participating mortgage banking companies to review their financial results and operating practices in relation to their peers.
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Explore MBA through Social Media
If you like using social media, the Mortgage Bankers Association has you covered.
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Quote

"We still expect that existing home sales will see a gradual increase through 2013, but with such low inventory, there is more upward pressure on home prices and we may see a more significant increase in prices over the next couple of quarters."
--Joel Kan, director of economic forecasting with the Mortgage Bankers Association.

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David H. Stevens, President and CEO, Mortgage Bankers Association

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