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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.

Chase Expands Loan Mod Program

Chase, the U.S. consumer and commercial banking arm of JPMorgan Chase & Co., announced on Friday that it is xexpanding its already significant mortgage modification program by undertaking multiple initiatives designed to keep more families in their homes, including extending its modification programs to WaMu and EMC customers,x the bank said in a press statement.

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New DepotPoint Module Manages Short Sales

As the nation’s housing crisis continues, millions of homeowners are facing foreclosure. Short sales are a viable option for homeowners in default to escape the threat of formal foreclosure. DepotPoint Inc.

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Fed Rule Adds Mortgage Rate Disclosures

The Federal Reserve recently approved new regulatory statutes requiring mortgage lenders to disclose to borrowers how much interest rates differ between prime mortgages and the higher-priced subprime loans offered to less-affluent borrowers.

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Fannie Mae to Reinstate Home Buyer Education and Counseling

Fannie Mae announced this week that it will reinstate a requirement for homeownership counseling and education for first-time home buyers obtaining one of its MyCommunityMortgage loans, which give lenders a conforming alternative for low- and moderate-income borrowers, or a loan that relies on nontraditional credit to qualify.

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Survey: More Appraisers Employ Technology

More appraisers are using technology to fulfill appraisal orders, according to a recent survey conducted by ValuFinders Inc., a provider of valuation services to national lenders, brokers, and government agencies.

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MBA Hires New Lobbyists

The Mortgage Bankers Association (MBA), has added two new members to its Congressional lobbying team on Capitol Hill: Len Wolfson has been named MBA’s Director of Legislative Affairs, and Catherine Cruz Wojtasik has been appointed AVP of Legislative Affairs.

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Mortgage Cadence Provides Technology to Automate Reverse Lending

Colorado-based Mortgage Cadence Inc, a provider of enterprise lending solutions (ELS) for the financial services industry, recently announced that it is helping Senior Lending Network, a program of World Alliance Financial Corp and a recognized leader in reverse mortgages, automate back office workflow for its reverse lending and document preparation process.

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Fed Lowers Key Rate to One Percent

The U.S. Federal Reserve cut its benchmark interest rate for federal funds - the rate at which banks lend to each other overnight - by half a point to one percent on Wednesday. Other central banks around the world followed suit, also reducing rates or announcing that they were considering the move.

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