According to AmeriDream, a non-profit organization based in Maryland that provides housing-related programs to low and moderate income Americans, last week’s report from the National Association of Realtors (NAR) showing yet another decline in January home sales is strong evidence that Congress must provide proven incentives like downpayment assistance (DPA) in order to stabilize the housing market.

Single-family home prices in Rhode Island during the month of January fell to the lowest level in about seven years, according to a report released today from The Warren Group. The Warren Group, which provides real estate research for the New England region, said the median selling price for single-family homes in Rhode Island in January fell 23.

From foreclosure moratoriums to targeted community outreach programs, lenders across the country are stepping up their home retention efforts to tackle the foreclosure epidemic that has strangled the U.

Freddie Mac today announced that its CEO, David Moffett, has resigned from his position of chief executive and as a member of the organization’s board, effective March 13, 2009. The GSE’s board of directors is working with the Federal Housing Finance Agency (FHFA) to appoint a successor to Moffett, and said it plans to name an interim CEO before March 13 to assume chief responsibilities once Moffett leaves.

According to government officials, the economy contracted at an alarming 6.2 percent during the last quarter of 2008 — the worst showing in 26 years. The Commerce Department released the revised gross domestic product (GDP) number on Friday, showing that the national economy deteriorated much faster than the 3.

South & Associates, P.C. has opened a full-service office in Omaha, Nebraska. The new office is fully operational and processing defaulted loans throughout the entire state. Commenting on the firm’s expansion, Alan South, founder and managing partner of South & Associates, said, The transition to Nebraska was a logical business decision as the underlying infrastructure of the firm is 100 percent scalable and expandable to accommodate other jurisdictions and legal processes.

Eight banking groups led by the Mortgage Bankers Association (MBA) are calling for the government to throw out the new Real Estate Settlement Procedures Act (RESPA), claiming that changes to the regulation are needed to ensure mortgage disclosures truly benefit borrowers.

The Treasury Department reached a deal late Thursday to increase its stake in Citigroup to an estimated 36 percent as part of a third bailout for the struggling bank. Already, the U.S. government holds an 8 percent ownership in the New York institution.

Marix Servicing LLC, a national mortgage servicer based in Phoenix Arizona, recently released a new borrower outreach program aimed at helping mortgage servicers contact distressed borrowers at risk of losing their homes to foreclosure.

Jacksonville, Florida-based Lender Processing Services, Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has announced that mortgage banking veteran Pete Maselli has joined the company’s Office of the Enterprise team as SVP of strategy and business development.