Los Angeles-based MDA MindBox, a division of MDA Lending Solutions that provides advanced-decisioning solutions to the mortgage lending industry, recently announced an update to ARTAdvisor, an automated portfolio review tool. This technology platform, which provides risk management from early risk detection through loss mitigation by automating the review, analysis, and management of any size portfolio, now includes short sale, foreclosure, and deed-in-lieu analysis.

Houston-based Integrated Mortgage Solutions (IMS), a collateral protection resource for the mortgage servicing industry, announced Monday that it has been named by the Women Presidents' Organization (WPO) as one of the 50 fastest growing women-owned/led businesses in North America. This year marks the third annual WPO competition to find the 50 fastest growing women-owned businesses. To be eligible for the award, companies must be privately-owned, woman-owned, or woman-led; have generated $500,000 in annual revenue by the first week of 2005; and have reached revenues of $2 million by the end of 2009.

In yet another sign of stabilization within the housing market, national home prices increased on a year-over-year basis for the first time in three years in February, according to the LoanPeformance Home Price Index (HPI) released Monday by First American CoreLogic. Despite the year-over-year increase in prices, the HPI forecast for the coming months turned less optimistic in First American's latest update, showing a softer recovery than in previous forecasts.

The PMI Group is still in the red. The California-based residential mortgage insurer released its first quarter 2010 earnings report Sunday, posting a net loss of $157 million, or $1.90 per share. The company's net loss widened from a deficit of $115.3 million, or $1.41 per share, during the same period one year ago. PMI said this year-over-year change was primarily due to the increase in fair value of the company's corporate debt.

Gov. Schwarzenegger recently appointed Steven Spears as executive director of the California Housing Finance Agency (CalHFA). Spears has served as CalHFA's acting executive director since December 2008, helping to lead the agency during the most challenging time for credit and real estate markets in its 35-year history.

xplair Technology, LLC, a San Diego-based provider of portfolio management software, hardware services, and support, announced Thursday that it has added a Loss Mitigation Midsourcing module to its Web-based residential mortgage platform, illumair Management System (iMS). This new module was designed to meet reporting requirements for government-sponsored entity programs, including the Home Affordable Modification Program, the Home Affordable Foreclosure Alternatives program, and Fannie Mae's Deed-for-Lease.

In order to serve the financing needs of the residential mortgage banking industry as the U.S. housing market recovers, Sterling Bancorp, a New York-based financial holding company with assets exceeding $2 billion, recently launched a new mortgage warehouse lending business. Known as Sterling Warehouse Lending Group, the new division will provide funding to highly-qualified mortgage banking firms from the time of closing until the mortgages are sold.

The Loan Modification Scam Prevention Network, led by Fannie Mae, Freddie Mac, the Lawyers' Committee for Civil Right Under Law, and NeighborWorks America, is launching a national campaign to prevent loan modification scams through public education, complaint reporting, and coordination with local, state, and federal enforcement agencies.

With the U.S. Department of Agriculture's (USDA) loan guarantee program said to be just days away from exhausting its federal funding, a bill requiring lenders to fund the program was unanimously passed by the House Financial Services Committee on Thursday. This action clears the bill for consideration by the U.S. House of Representatives, which is expected to take up the bill as early as next week.

The North Carolina Office of the Commissioner of Banks (NCCOB) says new mortgage rules aimed at reducing unnecessary foreclosures in North Carolina have been approved by the Rules Review Commission and will take effect for licensed mortgage servicers on June 1, 2010. Under these new rules, mortgage servicers will be required to stop foreclosure efforts pending the consideration of a request by the homeowner for assistance, and they will be required to respond promptly and clearly to homeowner requests for assistance.