Rep. John Campbell (R-California) introduced to Congress a piece of legislation designed to keep local governments from using eminent domain to seize homes with underwater mortgages. Titled ""The Defending American Taxpayers from Abusive Government Takings Act,"" the bill would prohibit Fannie Mae, Freddie Mac, FHA, and the Veterans Administration from purchasing or guaranteeing loans originating in counties where a municipality has seized a mortgage loan through eminent domain in the last decade.

Loan Resolution Corporation announced Thursday that Daniel Cullum has joined its team as director of customer engagement.

Federal agents arrested 10 defendants who worked at a Rancho Cucamonga, California-based business accused of offering false loan modification programs to homeowners, SIGTARP announced Wednesday. Those taken into custody are among 11 defendants named in a federal indictment over a mortgage fraud scheme that allegedly cost distressed homeowners more than $7 million.

According to CoreLogic's most recent MarketPulse release, the strongest real estate markets in the country right now have one thing in common: Black gold. The company released its September issue of MarketPulse Thursday, revealing interesting findings from its Real Estate Strength Index (RESi). Based on an analysis of RESi state rankings, advances in oil and gas extraction seem to have provided a substantial boost to states with an abundance of the natural resources.

Mortgage rates saw little change this week as investors await news from the Federal Open Markets Committee (FOMC) about a possible third round of quantitative easing. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.55 percent (0.6 point) for the week ending September 13, no different from the week before and only slightly above its all-time low achieved earlier in the summer.

Frank V. McMahon will take new role at DataQuick as executive chairman, the company announced Thursday.

Wolters Kluwer Financial Services announced Wednesday the expansion of its regulatory and risk management knowledge base with the addition of Calvin Holmes to the company's Consulting Practice.

Former Ginnie Mae president Joseph J. Murin has a new spot on the board of Chrysalis Holdings, LLC. Murin will take his position as chairman, replacing outgoing chairman Paul Thompson III.

Rockland Trust, of Rockland, Massachusetts, has selected LenderLive Network Inc. to handle its loan operations functions, LenderLive announced Wednesday.

Prudential California Realty has appointed real estate executive Leeann Iacino as COO.