California-based Mavent, Inc., a provider of automated regulatory compliance solutions to the mortgage industry, has been awarded a U.S. patent for its technology used for compliance with consumer credit regulation.

Four Democratic senators pressed the Federal Housing Finance Agency (FHFA) and the newly tapped chiefs of Fannie Mae and Freddie Mac yesterday to delay foreclosures by at least 90 days on all home loans owned by the two companies.

According to James J. Saccacio, CEO of RealtyTrac, a national online marketplace for foreclosure properties, the number of homes receiving foreclosure filings, as well as the national foreclosure rate in August were both the highest he’s seen since the company began issuing its Foreclosure Market Report in January 2005.

In an attempt to help struggling homeowners and stem the rising tide of foreclosures in Ohio, the Federal Home Loan Bank (FHLB) of Cincinnati is doling out $1.3 million in grants to neighborhood housing groups and local banks as part of its Preserving the American Dream program.

In response to growing consumer demand for green homes, the National Association of Realtors has introduced a new Green designation for realtors. The designation will help home buyers and sellers who care about energy efficiency and environmentally sound building practices identify realtors who can help them meet their green home goals, NAR said.

In the company’s first news released since it was taken over by the federal government, Freddie Mac continued business as usual, reporting the results of its weekly Primary Mortgage Market Survey (PMMS) today, in which it showed mortgage rates dropped significantly for the week ending September 11, 2008.

Today, the Mortgage Bankers Association announced that Francis Creighton has been promoted to VP and chief lobbyist, effective immediately. In his new role, Creighton will be responsible for leading the day-to-day federal and state legislative activities of the association, including management of its legislative lobbying, political, and grass roots operations.

Fannie Mae sold $7 billion in two-year notes yesterday, its largest ever syndicated Benchmark Notes debt issuance, the company said. The sale of the securities suggests strong interest from investors and a quelling of fears about Fannie Mae’s stability now that the government has taken control of the company.

Just two months ago, President Bush stated that Fannie Mae and Freddie Mac should remain private enterprises. If your question is, should the government bail out private enterprise, the answer is, no, it shouldn’t, Bush proclaimed.

Ocwen Financial Corporation, a national subprime mortgage servicer, reported that delinquencies on the subprime mortgages it handles flattened or declined this summer, largely due to its technology-enhanced loan modification program.