In yet another sign of stabilization within the residential real estate market, strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter of 2009, according to a survey released Thursday by the National Association of Realtors (NAR). Affordability has helped boost sales. The trade group reported that the national median price for an existing single-family home in Q4 was down 4.1 percent from a year earlier, but noted that it was the smallest price decline in over two years.

Atlanta-based Chrisley Asset Managent, a full-service REO management company, announced Wednesday the integration of short sales and loan modification services to its clients, streamlining the process for lenders and borrowers while increasing overall efficiency with a low-cost and reliable solution.

Morris|Hardwick|Schneider (M|H|S), a real estate closing law firm headquartered in Atlanta, recently promoted Natalie Hardwick, Cristina Hunt, and Jeffrey Sandler to partners of the firm. In order to maintain a leadership position in real estate closing services mandates, Nat Hardwick, M|H|S managing partner, said the firm must stay ahead of ongoing developments in the laws and regulations that govern its work.

Marking a major milestone in its effort to provide more clarity and transparency in the mortgage process, Bank of America, N.A., (BofA) provided more than 1 million potential homebuyers with the lender's first mortgage Clarity Commitment. ""Customers told us they wanted transparency and 'no surprises' in the lending process, and the Clarity Commitment answers that need-helping potential homeowners clearly understand the key terms and conditions of their mortgage agreement prior to closing a loan,"" said Barbara Desoer, president of BofA Home Loans.

Despite low and stable interest rates, mortgage applications fell for the week ending February 5, 2010, according to the Weekly Mortgage Applications Survey released Wednesday by the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally-adjusted basis from the prior week.

In an effort to enhance the appraisal ordering process for loan brokers, Loan-Score Decisioning Systems, an enterprise-class pricing and automated underwriting provider, and Global DMS, an appraisal management solutions firm, recently announced the integration of their systems.

Low interest rates have pushed more Americans to refinance their mortgages, and the Federal Housing Administration has announced enhanced refinance guidelines to assist homeowners facing foreclosure. As a result, banks and lenders are faced with an increasing volume of loan modification and refinancing requests.

Lowers & Associates (L&A), an independent provider of risk management and loss prevention services to the financial services sector, recently announced its new commercial mortgage asset management (CMAM), workout, and loan restructuring services.

In an effort to enhance the third party originator approval (TPO) process, NetMore America, Inc., an expanding next generation mortgage banker headquartered in Walla Walla, Washington, announced Tuesday that it will team up with Orange, California-based Comergence Compliance Monitoring, a third party originator due diligence solution provider to the mortgage industry.

Atlanta-based Prommis Solutions, LLC, a national provider of default processing services, recently appointed two new executives to its team, according to a recent announcement by the company. Tina Jones has been named VP of bankruptcy, and Michael Blair has joined the company as SVP of operations, East Coast division.