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Internet Veteran Jesse Gant Joins RealtyTrac

RealtyTrac announced this week the hiring of technology and Internet veteran Jesse Gant. In his role as VP of product and user experience, Gant will lead a team to develop a product plan and vision to drive membership and revenue growth. He will also spearhead new site initiatives, including social networking capabilities, aimed at improving page views, sales, and retention rates.

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Local Workshops Provide Assistance to 2,500 SoCal Homeowners

Representatives from more than a dozen mortgage servicers, along with local HUD-approved housing counselors, were on hand last week in Anaheim and San Bernardino, California to help struggling homeowners with their mortgages. The four days of events saw 2,576 at-risk homeowners come through the doors to learn what they can do to lower their mortgage payments and avoid foreclosure.

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Survey: 59% of Borrowers Would Not Walk Away if Underwater

A survey by Trulia and RealtyTrac shows that only 1 percent of homeowners with a mortgage say walking away would be their first choice if they were unable to make their payments, while 59 percent would not consider a strategic default no matter how much their mortgage was underwater. With walking away off the table for most homeowners, the survey found that only 5 percent of borrowers would opt for a short sale as their first choice if facing foreclosure, while 69 percent would pursue a loan modification to save their home.

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FDIC Adds 73 Banks to Troubled Watch List

The number of insured financial institutions on the FDIC's so-called problem list has risen to 775, up from 702 at the end of 2009. The total assets of problem banks have increased to $431 billion. The FDIC says both the number and assets of problem institutions are the highest they've been since mid-1993, but the agency also pointed out that the latest increase in the number of problem banks is the smallest in four quarters. So far this year, 72 insured banks have gone under.

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IndiSoft’s RxOffice Platform Adds Postal Service Address Verification

Sending letters of notification to homeowners throughout the delinquency life cycle is a requirement to meet insurer, investor, and state guidelines. Failure to send mail to a valid address can invalidate a foreclosure action and result in penalties. Technology provider IndiSoft has added U.S. Postal Service address verification to its RxOffice platform to help its clients address this issue.

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REDC Launches New Auction.com Site

Real Estate Disposition, LLC (REDC), a national real estate auction firm headquartered in Irvine, California, announced the re-launch of its Auction.com Web site on Wednesday. The company says it has increased site content tenfold to support more than 500,000 unique monthly visitors.

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CoreLogic Home Price Index Shows Second Consecutive Annual Increase

National home prices increased by 1.7 percent in March 2010 compared to a year ago, according to CoreLogic. It marked the second straight month that CoreLogic has recorded annual gains in home prices, breaking a depreciation streak of more than three years. But the company warns that going into the summer months, price growth will quickly fade, and because of the inventory of distressed properties, CoreLogic expects home prices nationally to fall another 5 percent over the next 12 months.

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Maine to Transition to the Nationwide Mortgage Licensing System

In an effort to make it easier and more efficient for mortgage lenders to apply for and manage their licenses, Maine has signed on to use the Nationwide Mortgage Licensing System (NMLS), Will Lund, superintendant from the Bureau of Consumer Credit Protection announced Tuesday. According to the Bureau, this change will also protect Maine consumers by increasing oversight of the mortgage activities of loan originators in other states.

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MRG’s Miracle Online System Now Able to Create REO Closing Packages

As REO sales continue to increase -- according to the latest market report released by Zillow, REO sales made up 22.2 percent of U.S. home sales in March -- it is vital that lenders receive assistance in completing these transactions. In an effort to provide this assistance, MRG Document Technologies has launched an REO document package creation capability within its Miracle Online mortgage document preparation system.

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MDA DataQuick Teams Up With Digital Map Products

MDA DataQuick announced Tuesday that it has entered into a multi-year agreement with Digital Map Products (DMP) to combine DMP's geospatial mapping technology with MDA DataQuick's real estate data. According to John Walsh, president of MDA DataQuick, this partnership will empower real estate professionals by helping them better visualize data and market analysis, and ultimately reduce risk.

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