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44 CONSUMER CONFIDENCE TAKES DOWNWARD TURN IN NOVEMBER Consumer confidence retreated in November 2014, falling from a seven-year high on a gloomier outlook for what the future will bring. e Conference Board's index of consumer confidence declined to 88.7 in the group's November reading, according to a report. e drop follows a bump of more than five points in October to a post-recession high of 94.5 (revised to 94.1 in the latest measure). "Consumer confidence retreated in last November, primarily due to reduced optimism in the short-term outlook," said Lynn Franco, director of economic indicators at the Conference Board. e index's component gauging consumer expectations fell nearly seven points this month, decreasing to 87 after a spike in October 2014. According to the Conference Board, consumers in the latest survey were less optimistic about the labor market outlook, reflected in a decline in the share of respondents expecting more jobs in the next six months and an increase of more than 2 percentage points in the share expecting fewer jobs. Americans were also slightly more pessimistic about income growth, with fewer expecting higher wages in the coming months. Meanwhile, the index's present situation component saw a more moderate decline, falling three points to 91.3. News of the decline in the headline index came on the same day of the Commerce Department's most recent estimate on economic growth. According to the government's figures, gross domestic product grew through the third quarter at an annual rate of 3.9 percent, helped partly by an increase in consumer spending. Based on that, analysts for Wells Fargo's Economics Group say the drop in confidence is nothing to worry about. "[T]his morning's (sic) revision to third quarter GDP indicated a stronger pace of real consumer spending and October's retail sales report indicated that spending was off to a good start in the fourth quarter," Wells Fargo economists Mark Vitner and Michael Brown said in a note. "at is hardly the data you would expect if consumers were growing more concerned." FREDDIE MAC INCREASES TRANSPARENCY FOR SINGLE- FAMILY LOAN-LEVEL DATASET Freddie Mac will be adding loan-level actual loss data to its Single-Family Loan-Level Historical Dataset in order to increase investor transparency. Investors will be able to build more accurate credit performance models in support of Freddie Mac's single-family credit risk offerings with the increased transparency the company will offer, according to the announcement. "It is important for investors to have this expanded view of credit risk, especially as we continue to grow and evolve our credit risk offerings," said Kevin Palmer, VP of single- family strategic credit costing and structuring for Freddie Mac. "Having data openly available in the marketplace allows us to expand the amount of risk transferred to private investors." Freddie Mac's Single-Family Loan-Level Historical Dataset was first made available in March 2013 and covers about 17 million 30-year, fixed-rate, single-family mortgage loans that originated between January 1, 1999, and June 30, 2013. Other data that includes actual loss and monthly loan performance, which includes credit performance up to and including property disposition, is current through December 31, 2013. e dataset will include such loan-level loss information such as expenses and recoveries, as well as credit performance data for 30-year fixed-rate single-family mortgages. It does not include data for other types of mortgages, such as adjustable-rate, balloon, initial interest, government-insured, refinancing relief mortgages such as the Home Affordable Refinance Program (HARP), or any other non- standard mortgages. "We expect to introduce an actual loss credit offering in our ACIS reinsurance and STACR programs next year," Palmer said. "We are releasing this data now to give potential credit investors sufficient time to get familiar with Freddie Mac's actual loss performance." default servicing in print and online @ dsnews.com 08.2014 default servicing in print and online default servicing in print and online default servicing in print and online default servicing in print and online .201 .201 .201 .201 .201 .201 .201 .201 .201 .2014 default servicing in print and online default servicing in print and online default servicing in print and online default servicing in print and online default servicing in print and online default servicing in print and online default servicing in print and online default servicing in print and online @ dsnews.com dsnews.com dsnews.com dsnews.com dsnews.com dsnews.com dsnews.com 08 08 08 08 08 08.201 .201 Housing's Golden Investment or Fairy Tale? While data shows that the housing industry is making a signifi cant rebound, some housing market investors are fi nding that in the realm of purchasing of non-performing notes is a mere fantasy. 68 Q&A SESSIONS GOOD FOR BUSINESS Knowing which questions to ask is a critical piece to investor success in the changing marketplace. 72 PREYING FOR PAYOFF Troubled homeowners are easy prey for scammers, but steps can be taken by homeowners and servicers to make sure their investments are protected. 64 APPLES, ORANGES, AND LEMONS: EFFECTIVELY MEASURING HAZARD- CLAIMS MANAGEMENT If the devil is truly in the details, one of those details for mortgage servicers is managing the mortgagee-fi led hazard insurance claims process. THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com.

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