CoreLogic says its automated valuation models (AVMs) can assist mortgage lenders in complying with the new federal standards on property valuations. The new standards were released December 2 by the five federal bank regulatory agencies, and emphasize the need for risk-focused appraisal reviews, rigorous AVM testing, enhanced documentation of property condition, and valuation updates during the life of the loan.

Fannie Mae is adding a sixth mortgage help center to its arsenal with its first Texas location. The new center, located in Dallas, is a partnership with two local non-profit housing agencies that will provide free counseling services for struggling Dallas/Fort Worth-area homeowners with loans owned by Fannie Mae. Counselors will review a borrower's loan, discuss foreclosure alternatives, collect the required documents for the federal Making Home Affordable program, and provide help to finalize any pending loan workout efforts.

National Creditors Connection, Inc. (NCCI), a provider of field contact, loss mitigation, and onsite inspection services, has hired two new national account managers. Scott Alton will service the lower Southeast states and Texas, and Louis Masur will focus on the Midwest. Both are responsible for building relationships with NCCI's current clientele, including credit unions, mortgage servicers, state and local banks, and finance companies, and for cultivating new business opportunities.

Freddie Mac will delay initiating and resuming foreclosure for at least nine months for financially troubled service members released from active duty through the end of 2011. The decision will give lenders more time to work with service members and explore relief options designed to assist them, according to a statement from Freddie Mac.

California continued to feel the housing slump in November with a 12.4 percent decrease in sales from last year, according to statistics from MDA DataQuick. An estimated 31,403 new and resale houses and condos were sold statewide last month -- down 3.9 percent from October. The median price paid for a home in California during the month of November was $255,000. Foreclosure sales made up 37.8 percent of the existing homes sold last month.

Cincinnati-based Reisenfeld & Associates LPA, LLC, a legal services provider to the mortgage banking industry, recently hired Gregory A. Goldblatt as associate counsel in the firm's litigation department. Goldblatt was most recently an associate attorney at Slovin & Associates in Cincinnati, where he focused on collections law and protecting creditors' interests in foreclosure and bankruptcy matters.

Consumers usually hunt for the best deal -- except when it comes to their mortgages. While 96 percent of American consumers compare prices when shopping, nearly 40 percent obtain just one home loan quote, according to a new survey from LendingTree. The survey also revealed that only 28 percent of borrowers are very confident they received the best possible deal on their current mortgages. Even though 85 percent of consumers use the Web to comparison shop other items, only 21 percent say they shopped online first for mortgage rates.

California-based Ellie Mae announced the launch of its second major release of Encompass360 this week. The mortgage management product includes 24 upgrades designed to make it easier for users to comply with lending regulations and improve business management, productivity, and visibility, according to a statement from the company.

The board of the California Public Employees' Retirement System (CalPERS) says it is suspending its Member Home Loan Program. The board cited limited member usage, increasing costs, and rising delinquencies for the suspension. Once the suspension begins, CalPERS will no longer accept mortgage applications, but loans currently in the pipeline are expected to be completed over the next three months. Since 2004, the program has averaged between 1,000 and 4,500 home mortgage loans a year.

The Federal Trade Commission (FTC) will enact a ban on advance fees charged for loan modification and mortgage assistance rescue services starting January 31, to prevent providers of such services from collecting upfront fees from homeowners without successfully securing a loan modification. The new rule, however, exempts fees charged in advance for loan modification products, such as software systems that produce modification documentation like the technology offered by loss mitigation software provider the Loan Post, Inc.