Richard M. Leibert, partner at Hunt Leibert & Jacobson, P.C. has been selected by his peers for inclusion in the 2012 edition of The Best Lawyers in America in the area of mortgage banking foreclosure law. Inclusion in Best Lawyers is based on a peer-review survey in which more than 39,000 attorneys cast almost 3.1 million votes on the legal abilities of other lawyers in their practice areas.

A federal grand jury in San Francisco has indicted two former bank executives of the now-defunct United Commercial Bank for using fraudulent accounting maneuvers to misrepresent loan losses to federal agencies as the bank took money from taxpayers through the Troubled Asset Relief Program (TARP). The Securities and Exchange Commission has filed separate civil charges accusing the same two executives and the former CEO of misleading investors about the bank's mounting loan losses, to the tune of $65 million.

New foreclosure actions in states along the country's West Coast returned to levels in line with prior months during September, according to ForeclosureRadar. The leveling off in September follows a surge in foreclosure starts during the month of August in the western states of Arizona, California, Nevada, Oregon, and Washington. ForeclosureRadar continues to see strong investor interest on the courthouse steps, with purchases by third parties at or near peak levels in four of the five states.

Bank of America has begun a pilot program in Florida offering extra incentive payouts to distressed homeowners who agree to and successfully close on a short sale. Incentive payments for relocation assistance range between $5,000 and $20,000. The program is being offered on a limited basis for investor-approved, pre-offer short sales. Bank of America is calling it a pilot ""test-and-learn"" program, and if successful in Florida, it could be expanded to other states.

The Kansas City, Missouri-based default servicing law firm Martin, Leigh, Laws & Fritzlen, P.C. recently announced that two attorneys with the firm - Steven M. Leigh and Beverly M. Weber - have been named Best of Bar and appear in the September 23, 2011 issue of the Kansas City Business Journal. Best of the Bar recognizes outstanding lawyers in the metro area as chosen by their peers.

Stewart Lender Services, a wholly owned subsidiary of Stewart Title Company, now provides nationwide foreclosure file processing reviews for mortgage servicers to ensure their compliance with standard foreclosure practices. The company says these services can also prove beneficial to servicers in preparation for the continued scrutiny and subsequent response to federal and state law enforcement agencies investigating mortgage loan servicing and foreclosure processing practices.

Urban Lending Solutions, a provider of residential and commercial mortgage products and services, has hired settlement services industry veteran Michael Forgas to serve as the company's chief strategy officer. Forgas, formerly CEO of National Real Estate Information Services (NREIS), will help set the strategic direction for Urban Lending Solutions and head up the firm's sales and marketing efforts.

Pro Teck Valuation Services and Collateral Analytics have teamed up to launch Home Value Forecast (HVF). The inaugural edition of the monthly HVF was released Monday. The two partnering companies describe it as bringing ""a unique perspective on the U.S. housing market."" The goal of the new forecasting solution is to highlight the fact that all real estate is local. HVF employs a unique ranking system for the largest metros to highlight the best and worst markets with regard to a number of real estate indicators.

One of New York's largest-volume foreclosure law firms has signed on to an agreement with the U.S. Department of Justice, requiring the firm to pay $2 million and change its foreclosure practices - a case that market observers say could set a national precedent. The law firm of Steven J. Baum, P.C. has been the subject of a six-month investigation into whether the firm, on behalf of its lender clients, filed misleading pleadings, affidavits, and mortgage assignments related to foreclosure actions in both state and federal courts in New York.

Banking regulators in the states of Minnesota and Missouri stepped in over the weekend to shut down community-based lenders in each of their respective states. These latest two closings bring the number of insured institutions on the FDIC's failed-bank list to 76 for the 2011 calendar year. The RiverBank in Wyoming, Minnesota, had been in operation for more than a century but the latest real estate downturn proved to be too much for the local community fixture. Security Bank in Ellington, Missouri, was also closed.