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LenderLive Launches Gov. Loan Mod Campaign with Top Servicer

Denver, Colorado-based LenderLive Network Inc., a company that provides business process outsourcing and technology to the financial industry, announced on Monday that it has successfully launched its first large-scale Home Affordable Modification Program (HMP) campaign with one of the nation’s top four servicers.

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Fed Purchases $33B in Agency MBS

The New York Federal Reserve Bank purchased $32.9 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 $303 billion.

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Fannie, Freddie Proceed with Bonuses

Fannie Mae and Freddie Mac are planning to follow through with the payout of retention bonuses to more than 7,500 employees. The two companies plan to award $159 million to executives and key staff members over the next 18 months, on top of the nearly $51 million already paid out in 2008.

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Mortgage Rates Hit New Record Lows

Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) on Thursday, showing that mortgage rates dropped again this week, hitting yet another record-breaking low for all loan products in the GSE’s study.

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Survey: Few Lenders Ready for HVCC

On May 1st, the Home Valuation Code of Conduct (HVCC) is scheduled to take effect, mandating that all new loans sold to Fannie Mae and Freddie Mac comply with strict rules established to mitigate the risk assumed by the two GSEs.

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Wolters Kluwer Extends Compliance Technology to Community Banks

Minneapolis, Minnesota-based Wolters Kluwer Financial Services announced last week that the company is expanding the reach of its CompliSource solution to the community banking marketplace. The tool, which was previously only available to larger lenders, now offers community banks a means for managing state and federal compliance law governing consumer finance, indirect lending, and mortgage lending.

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