Through a partnership with Fannie Mae, the Wisconsin Housing and Economic Development Authority (WHEDA), an independent state authority that works with lenders to provide low-cost financing for housing and small business development, announced Friday that it has re-entered the affordable home loan market after more than a year of not funding single family loans.

Theoretical analysis conducted by the Leavey School of Business at Santa Clara University found that banks would suffer fewer defaults among modified mortgages if they would shorten the duration of the restructured loans, rather than lengthening as they tend to do, and if they would forgive part of the loan - a method many are unwilling to apply because of the accounting impact. The study concludes, however, that principal write-downs maximize a borrower's willingness to pay, thereby maximizing the loan's economic value to the lender.

According to Los Angeles attorney Jerome S. Cohen, a chapter 11 specialist, many investors have found themselves unable to service debt due to vacancies, tenant defaults, and other problems that have arisen as a result of the struggling economy. However, banks are highly motivated to turn problems into performing loans, and Cohen says there is an opportunity to find creative solutions to this increasingly common issue.

Brokerpriceopinion.com, a Westminster, Colorado-based provider of drive-by and interior broker price opinions (BPOs), appraisals, and property securement for financial institutions, recently announced the launch of its next generation BPO (V3) platform.

With low mortgage rates as a driving factor, sales of existing single-family homes and condos in Florida surged in the fourth quarter of 2009, according to a recent report by the Florida Association of Realtors. Increased sales of existing homes were reported in 18 of Florida's metropolitan statistical areas (MSAs), and all of the Sunshine State's MSAs showed gains in condo sales.

Harry Gardner and Charles Epperson of SigniaDocs, a Dallas-based provider of eMortgage services, have been appointed to key posts within MISMO, a nonprofit subsidiary of the Mortgage Bankers Association (MBA) that is known as the mortgage industry's pre-eminent standards organization.

Since its inception in August 2009, the National Association of Women REO Brokerages (NAWRB) has been seeking to launch a nonprofit program. That goal was realized this week with the official incorporation of the NAWRB Community Enhancement program. This nonprofit venture is dedicated to developing infrastructure for parks and community centers in neighborhoods strongly affected by the nation's growing foreclosure rate.

Following the recent enhancements to the federal government's HOPE for Homeowners (H4H) program, Wolters Kluwer Financial Services has updated its library of H4H mortgage documents and consumer education materials. HUD's enhanced program includes several provisions meant to increase lender and borrower participation, including reduced program fees, streamlined borrower certification requirements, and new underwriting guidelines.

Along with a growth of staff and office space last year, Denver-based LenderLive Network, Inc. said 2009 brought an expansion of product offerings to its LenderLive Settlement Services division. To help servicers reduce costs and complete more loan modifications, the company provides outsourced fulfillment services and is able to seamlessly bundle these services with its title and recording offerings.

According to a recent company announcement, Diane S. Paddison has been appointed as chief strategy officer at Cassidy Turley, a commercial real estate service provider headquartered in St. Louis. In addition, she will serve as a member of the board of directors and the executive committee of the company.