Home prices in the United States posted record declines in the fourth quarter of 2008, according to the Federal Housing Finance Agency’s (FHFA’s) House Price Index (HPI). The agency’s purchase-only HPI, based on data from home sales, was 3.

The nation’s four largest organizations of professional real estate appraisers—the Appraisal Institute, American Society of Appraisers, American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers urging the federal government to require that market values of homes rescued under President Obama’s Homeowner Affordability and Stability Program be determined by professional appraisers who are state certified and licensed.

First American Exchange Company, LLC, a subsidiary of First American Title Insurance Company, has announced that Margaret Margo Mucha McDonnell has rejoined the company as regional sales manager for First American Exchange Company and its affiliate, 1031 Corp.

After Citigroup’s stock tumbled last week – now trading below $3 share – bank executives have asked the federal government for additional assistance in strengthening the company. According to a Wall Street Journal:http://www.

Wilmington, Delaware-based MDA Lending Solutions has announced the launch of ARTAdvisor from MDA MindBox. The technology platform provides risk management, from early risk detection through loss mitigation, by automating the review, analysis, and management of any size mortgage portfolio.

Federal banking regulators will begin scrutinizing the financial condition of the nation’s 20 largest banks this week to determine whether they can withstand a worsening economic downturn. These reviews of the banks’ books, known as stress tests, are step one of the Treasury’s Financial Stability Plan and could take several weeks to complete.

Ninety-seven percent of prime borrowers who originally had a conforming adjustable-rate mortgage (ARM) chose a new conforming fixed-rate mortgage (FRM) when they refinanced in the fourth quarter of 2008, according to a report released today by Freddie Mac analyzing refinancings funded by the GSE.

Brookfield, Wisconsin-based Fiserv, Inc. has added management of indirect and third-party loans to its loan servicing platform. The company explained that this single-platform capability broadens the spectrum of loans to be processed and provides online, real-time back-office transactions for financial institutions’ diverse portfolios.

Parsippany, New Jersey-based RedVision, a national provider of real property research solutions, has announced the promotion of Michael Carus from CFO to president and COO. Brian Twibell, CEO of RedVision, said of the promotion, This organizational change prepares us for the next phase of RedVision’s growth.

Clearwater, Florida-based eMASON, Inc. has announced key product upgrades to its Clarifire application that the company says will provide increased flexibility and expanded capabilities. Clarifire now features certified Fannie Mae loss mitigation business rules for HomeSaver Advance and pre-foreclosure sale workout types, as well as a direct connection to Fannie Mae’s system of record, Home Saver Solutions Network (HSSN).