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Home Warranties May Entice Buyers

A recent study conducted by a national real estate company and American Home Shield, a home warranty company based in Memphis, Tennessee, found that homes offered with warranty protection sold an average of 23 days faster than homes with no warranty coverage.

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Foreclosures Still Climbing in California

Despite the fact that lenders in California are voluntarily postponing the majority of foreclosure sales – 73 percent, to be exact – ForeclosureRadar says its market data reveals a steady increase in the number of foreclosed homes in the state sold at auction.

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LoanMarket.NET, First American Partner

Irvine, California-based LoanMarket.NET has partnered with First American Title Insurance Company to offer nationwide third-party title, signing, and settlement services to its online buyers and sellers of mortgage note investments.

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Obama Outlines Regulatory Overhaul

President Barack Obama laid out the administration’s plan for a new financial regulatory landscape on Wednesday. Obama says it is clear now that the government could have done more to prevent the current financial crisis from spiraling out of control and threatening the overall economy.

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Concerns Raised Over NJ Foreclosure Law

New Jersey’s Mortgage Stabilization and Relief Act (MSRA), also know as S1599, became effective April 1, 2009. The legislation imposes additional requirements on lenders trying to foreclose, and it allocates $40 million to fund two state mortgage relief programs.

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Mortgage Apps Fall to Seven-Month Low

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey on Wednesday, which showed that home loan applications dropped to their lowest level since last November, as rising mortgage interest rates have led to an increase in borrowing costs.

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Texas AG Hosts Mortgage Fraud Summit

Texas Attorney General Greg Abbott welcomed state and local authorities, law enforcement officials, prosecutors, and other Texans from the real estate industry to the Office of the Attorney General’s (OAG) Mortgage Fraud Summit in Austin on Monday.

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Washington State Advocates Foreclosure Counseling

Washington state’s PROOF program, which stands for Prevent or Reduce Owner-Occupied Foreclosure, matches homeowners who are behind on their mortgage with certified housing counselors. Lawmakers have authorized $250,000 for the statewide initiative to help distressed homeowners negotiate loan modifications or other workouts with their lenders.

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