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Pro-Teck Delivers HVCC-Compliance

Waltham, Massachusetts-based Pro-Teck Valuation Services announced Monday that its home mortgage appraisal services are fully compliant with the new Home Valuation Code of Conduct (HVCC), which takes effect May 1.

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Fannie CEO Nominated for Treasury Post

President Barack Obama announced his formal nomination of Fannie Mae’s chief executive Herb Allison to run the Treasury’s $700 billion bank rescue program on Friday. The official presidential nod was widely expected, although the nomination still requires confirmation from the Senate before Allison can take up his post in the Treasury office.

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ServiceLink Unveils HVCC Appraiser Tool

Coraopolis, Pennsylvania-based ServiceLink, a provider of origination and default services and the national mortgage services platform of Fidelity National Financial, has launched their Appraiser Panel Management (APM) product line.

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Loan Mods at Fannie, Freddie on the Rise

Mortgage giants Fannie Mae and Freddie Mac modified nearly 24,000 loans during the fourth quarter of 2008, an increase of 76 percent over the third quarter, according to data released this week by the GSEs’ regulator, the Federal Housing Finance Agency (FHFA).

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Treasury Collects $2.5B In Bank Dividends

The U.S. Treasury said on Friday that American taxpayers have already begun to get back some of the money that they’ve invested to bailout the nation’s banks. The Treasury has collected $2.

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Long-Term Mortgage Rates Recede

Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) on Thursday, which showed interest rates on fixed-rate home loans and some adjustable-rate products eased this week. The GSE reported that the 30-year fixed-rate mortgage (FRM) averaged 4.

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Six Servicers Sign to Federal Mod Program

The Obama administration has released the names of the first six mortgage companies to officially ink their commitment to participate in the government’s Home Affordable Modification Program (HMP).

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Fed Purchases $21B in Agency MBS

The New York Federal Reserve Bank purchased $21.75 billion in mortgage-backed securities (MBS) from government agencies this week. Total MBS purchases since the Fed program began in early January now stands at $355 billion.

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Indiana AG Sues Foreclosure Consultants

Indiana Attorney General Greg Zoeller filed lawsuits in Boone, Clark, Delaware, Grant, and Marion counties last week against five foreclosure consultant companies. The lawsuits filed cite violations of three state laws including the Deceptive Consumer Sales Act, Credit Services Organizations Act, and the Mortgage Rescue Protection Fraud Act.

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