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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.

NAR Says Pending Home Sales Up

According to a new study released by the National Association of Realtors last week, pending home sales for the month of June reached an index of 89, increasing 5.3 percent compared to May. This was a higher jump than expected.

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Wachovia Slims Down Mortgage Lending

Wachovia Corporation, the nation’s fourth-largest bank, announced on Friday that it will stop making mortgage loans through its branches in 19 states. The bank will still offer in-branch mortgages in 18 other states, as well as nationwide via the Internet and telephone.

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Long-term Mortgage Rates Relatively Flat

Long-term mortgage rates remained relatively flat this week, indicating that the housing industry is still in a deep slump, according to the government-sponsored enterprise (GSE) Freddie Mac. The company released its weekly Primary Mortgage Market Survey (PMMS) results yesterday.

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ValuFinders Expands Appraiser Network, Adds Broker Clients

California-based ValuFinders, Inc.);/*1218205260749*/, a valuation services provider to national lenders and government agencies, announced that during the first half of 2008, it has increased the number of appraisers in its national network and expanded into the broker market.

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Fannie Mae Reports $2.3B Loss for 2Q

Fannie Mae announced its second quarter financial results today, reporting a net loss of $2.3 billion, or $2.54 per diluted share, compared to a first quarter 2008 net loss of $2.2 billion, or $2.57 per diluted share.

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Byte Releases Software to Assist with FHA Loans

Byte Software, a software provider for banks, credit unions, and mortgage brokers, released version 3.0 of BytePro, its flagship loan origination software, last week. According to the company, the new version contains automatic calculations for Federal Housing Authority (FHA) risk-based premiums, a customizable dashboard, new partner interfaces, and enhanced validation rules.

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Fidelity National Financial Acquires Colorado Operations

Fidelity National Financial, Inc. announced this week that it has purchased all of the Colorado title insurance operations of Denver-based Mercury Companies, Inc. The acquired operations include Security Title, First American Heritage Title, Title America, and United Title, and according to a statement by FNF, these companies hold approximately 30 percent of the title insurance market share in the state.

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MCS Appoints New AVP of Business Development

Mortgage Contracting Services, a provider of property preservation and inspection services to the mortgage industry, today announced that it has named Chad Mosley AVP of business development. In this role, Mosley is responsible for developing and growing both new and existing business relationships for pre-sale inspections, preservation services, and real estate owned (REO) preservation services.

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Fannie Mae Raises Lender Fees, Releases Retained Attorney List

Earlier this week, Fannie Mae announced that it is increasing the fees it charges lenders for purchasing their mortgages and making adjustments to its pricing structure for home-loan securities. The government-sponsored enterprise (GSE) said these changes, which are effective October 1, will better align its pricing with credit risks, help to mitigate losses, and support its ability to provide a stable source of liquidity to lender partners.

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