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Author Archives: Heather Cernoch

Florida’s Existing Home, Condo Sales Continue Upward Trend

According to the latest housing statistics from Florida Realtors, statewide sales in existing-home and condo markets have increased for the seventh consecutive quarter compared to year-ago levels. The association's report cites a total of 51,564 existing homes sold statewide in the second quarter of 2010, up 21 percent from the same period last year. Condo sales improved by 45 percent with 20,986 units sold compared to Q2 2009. Median sales prices, though, were not as positive.

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FNC Inc. Partners with Integrated Asset Services

Mortgage technology firm FNC Inc. recently announced that it is partnering with Integrated Asset Services (IAS), a provider of collateral valuation and management services. The joint venture will offer FNC's servicing clients the option to procure more precise, next-generation real estate valuations, allowing users to formulate their property disposition strategies based on real estate value trend lines, the company explained.

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MCS Announces New Information Technology SVP

Mortgage Contracting Services (MCS) announced Monday that Robert Colbeck was promoted to SVP of information technology. A 15-year IT veteran, Colbeck has been with MCS since 2004. During his tenure, he designed and developed MCS360, the company's client-based Web portal that allows two-way communication and real-time delivery of work order results.

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RealtyTrac Foreclosure Data Now Available through Moody’s Analytics

RealtyTrac's foreclosure, property, loan, and home sales data is now available via Moody's Analytics, an independent provider of economic forecasting and credit risk services. By aggregating RealtyTrac's proprietary foreclosure information and combining it with local economic and house price measures, Moody's says banks, asset managers, and federal and local governments are given insight into all stages of the foreclosure process.

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Fannie Mae Provides Free Foreclosure Prevention Services in Atlanta

Struggling Atlanta homeowners with Fannie Mae-owned home loans can now take advantage of the company's new mortgage help center. The third facility in a series of planned, nationwide mortgage help centers, the Atlanta center provides counseling and other services for borrowers to help them avoid foreclosure. Both English- and Spanish-speaking housing counselors will be on hand to explain options to homeowners and help finalize documentation for modifications or other loan workouts.

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Berkadia Hires BlackRock Founding Partner as New CEO

Berkadia Commercial Mortgage LLC announced the appointment of Hugh R. Frater as CEO this week. He replaces Michael I. Lipson, who left the organization. Frater was a founding partner and managing director of BlackRock, Inc., the largest publicly traded investment manager. He also served as EVP for the real estate division of PNC Financial Services.

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Efficient Practices Produce Faster Short Sale Turnaround for Servicelink

ServiceLink reports dramatically reduced short sale approval and closing timelines, thanks to the company's short sale business model. The Fidelity National subsidiary cites completed package and contract acceptance in less than 30 days, a far cry from the industry's 90-day delays just a year ago. ServiceLink also reports a total short sale completion time of fewer than 75 days, a process that once took more than five months.

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Foreclosure Auction Service Firm Promotes Brenes to Director of Sales

Priority Posting and Publishing, Inc., a provider of publication, posting, serving, and auction foreclosure services, announced that Ed Brenes, the company's national accounts manager, was promoted to director of sales. Brenes has almost three decades of default industry experience under his belt and will be responsible for the company's nationwide sales.

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