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Author Archives: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

California Foreclosures Rebound After Impact of SB 1137

ForeclosureRadar, an online company that tracks California foreclosures and provides daily auction updates, issued its California Foreclosure Report for November 2008 today. Despite the clear impact that California State Senate Bill 1137 had on stemming foreclosure activity in September and October, November saw significant increases across all stages of the foreclosure process, the company said.

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NJ Company Expands Search to Accommodate Increasing Foreclosure Records

Bergenfield, New Jersey-based NJLispendens recently announced enhanced search options to its Web site for pre-foreclosure court filings. NJLispendens offers legal insider information that is updated daily, allowing for real estate investors, lenders, and Realtors to locate recently filed foreclosure actions as they are recorded in the courts and pinpoint homeowners in default who need their help to avoid foreclosure.

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Identity Verification for Home Loans Now Provided in Real-Time

Fort Worth, Texas-based Rapid Reporting, a provider of income and identity verification products for the mortgage industry, has announced that the Social Security Administration is now providing verification of Social Security numbers in real-time, enabling Rapid Reporting to provide nearly immediate answers to users of its DirectChek identity verification solution.

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Georgia and Texas Banks Close

Two more community banks have fallen under the pressures of the country’s economic and housing crises, bringing the total number of institutions on the Federal Deposit Insurance Corporation’s (FDIC’s) failed bank list to 25 in 2008.

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National Loan Auditors Teams Up With Gulf Coast Law Center

Walnut Creek, California-based National Loan Auditors (NLA), a company providing quality control, pre-close, and post-close auditing, risk assessment consulting and fraud prevention to the mortgage, legal, and banking industries, has partnered with Pensacola, Florida-based Gulf Coast Law Center to build a national attorney network that will allow NLA loan audits from any state to be validated with a legal opinion letter from a licensed attorney in that jurisdiction.

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Attorney General Sues Mortgage Rescue Companies

Seven new lawsuits have been filed by the state attorney general of Illinois against mortgage rescue companies. Attorney General Lisa Madigan said there is an alarming rise in scams that prey on vulnerable homeowners on the verge of foreclosure, and said homeowners should use caution when seeking help if they are at risk of losing their homes and to seek reputable and trusted sources for assistance.

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New Report Says Foreclosures Could Top 8M by 2012

An estimated 8.1 million homes in the United States, or 16 percent of all outstanding mortgages, will be foreclosed over the next four years, according to a recent research and analytics report issued by the 152-year old financial institution Credit Suisse.

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