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Nationstar, KB Home Announce Plans to Form New Mortgage Company

In a joint announcement, KB Home and Nationstar Mortgage LLC announced an agreement to form Home Community Mortgage, LLC, a limited liability company offering a range of mortgage banking services to KB Home customers. As KB Home's preferred lender, Nationstar has served homebuyers on-site in the builder's communities across the country. According to the announcement, Nationstar will remain KB Home's preferred choice until Home Community Mortgage's launch, which is scheduled for the latter half of 2013.

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Harvard Researchers Argue for New ‘FHA Corporation’

A recent report from Harvard University's Joint Center for Housing Studies argues for more flexibility for the Federal Housing Administration (FHA). Under direction of a congressionally appointed advisory board and CEO, the new "FHA Corp." should be free to enact its own hiring process, manage its own budget and adapt to market changes "without Congress legislating each change or mandating numerous complex or inconsistent rules and regulations," researchers suggest.

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MBA: Slow Growth Still Expected Despite Positive Signs

Washington may have (arguably) successfully avoided 2013's budgetary landmines so far, but the Mortgage Bankers Association (MBA) reports everything it has seen so far suggests economic growth will be modest in 2013. In its most recent Economic and Mortgage Finance Commentary, the association forecasts slow economic gains in the first half of 2013 "as the effects of the payroll tax increase and the spending cuts from sequestration or a similar decline in government spending kicks in."

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Minnesota Bank Collapses, Brings 2013 Tally to 2

1st Regents Bank, of Andover, Minnesota, became the country's second FDIC-insured institution to collapse in 2013, the FDIC announced Friday. All of 1st Regents' estimated $49.1 million in deposits and virtually all of its $50.2 million in assets will be assumed by First Minnesota Bank in Minnetonka, the agency said in a release. First Minnesota will pay the FDIC a premium of 2 percent to assume the deposits.

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