[mEDITate-OR:
yell "Gin !!!"
This first article is significant for two reasons:
First, it documents that massive increase in RE loan that GMae has made in the last year.
and
Second, it also shows U.S. that BOTH GMae and FMae have also improved their deliquencies.
The Second article shows U.S. what we suspected was true...
as the recession hit, and caused separations & divorces...
single women, most with children, would increase their home ownership.
"Single women made up 25% of all first-time homebuyers"
The Third article tells U.S. what MIGHT be true..., but maybe not.
While the number of pre-foreclosures, those behind & getting notices, is about the same...
the actual number of finalized foreclosures is down.
Three reasons, probable...:
One, the massive increase in "short sales"...
Two, the massive increase is "strategic defaults"...
and Three, the FED modification programs.
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"Ginnie Mae has stepped up when the private sector couldn’t to ensure millions of consumers had access to 30-year, fixed-rate mortgages.”
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Ginnie securitizes mortgages insured or guaranteed by
the Federal Housing Administration (FHA),
the Department of Veterans Affairs (VA) and
the US Department of Agriculture (USDA) Rural Development service.
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The rate of seriously delinquent mortgages 90+ days past due improved 17 basis points to 1.85% in March, from 2.02% in February.
the delinquency rate at Freddie Mac (FRE: 1.34 -2.19%) dropped to 4.13% in March, from 4.2% in February.
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Ginnie Mae Issues $31.5bn of RMBS in April as Delinquencies Fall
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Single Women Bought First Homes at Twice the Rate of Men in 2009
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First Drop in California Foreclosures in 2010
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