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FHFA Reports a Rise in Home Prices

While many reputable real estate research firms have reported smaller declines in home prices in recent months, but declines nonetheless, the Federal Housing Finance Agency (FHFA) released a report today that says U.

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Lending Up As Banks Post Profits

The Treasury Department said last week that loan originations made by the nation’s largest banks grew modestly during the month of May, and according to a report issued this week by the Troubled Asset Relief Program’s (TARP) inspector general, a large majority of institutions who have received government bailout money say they’ve used the funds to write new loans.

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Former Fannie CEO to Lead Investment Firm

The New York-based alternative asset management firm Fortress Investment Group LLC announced over the weekend that Daniel H. Mudd, Fannie Mae’s former chief, will take the helm at Fortress as the company’s new CEO.

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Freddie Names Haldeman New CEO

After a four-month-long search process, Freddie Mac announced Tuesday that its board of directors named finance industry veteran Charles E. Haldeman, Jr. as the company’s new CEO and has elected him as a member of the board – a move that was widely expected, as DSNews.

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Wells Fargo Steps Up Homeowner Assistance

Wells Fargo says in the first half of 2009, through lower rates, refinances, and modifications, it alone has helped nearly one million American homeowners lower their mortgage payments or restructure their mortgage.

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Freddie Offers Warranties on REO Homes

Purchasers of single-family foreclosed homes offered through Freddie Mac’s HomeSteps division will receive a comprehensive two-year home warranty paid for by Freddie Mac, the company announced Monday.

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Allison Testifies for More Foreclosure Aid

Herb Allison, the Treasury’s new assistant secretary for financial stability and former CEO of Fannie Mae, told lawmakers at a Senate Banking Committee hearing last week that the administration is considering another housing proposal that would require lenders to allow previous homeowners to stay in their foreclosed homes as renters.

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Former HUD Asst. Secretary Joins Ocwen

Subprime mortgage servicer Ocwen Financial Corporation announced Thursday that Steven B. Nesmith has joined the company as SVP and assistant general counsel for strategic and government initiatives. Nesmith was most recently a partner at Holland & Knight where he served in the affordable housing, financial services, and international trade practice areas.

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TILA, RESPA a Concern for Small Banks

Regulatory compliance professionals at community banks expect to spend a significant amount of their time meeting Truth-in-Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) requirements during the next 12 months, according to a recent survey by Minneapolis-based Wolters Kluwer Financial Services.

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