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Maryland Gives HOPELoanPort the Green Light

At a briefing of state housing counselors held this week at the HomeFree-USA office in Prince George's County, Maryland, Congressman Steny Hoyer and Raymond Skinner, Maryland Department of Housing and Community Development secretary, both expressed their support for HOPE LoanPort, making Maryland the first state in the nation to publicly endorse the program.

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FDIC Finds Taker for $490 Million in Home Loans

The FDIC announced Thursday that Charlotte, North Carolina's Roundpoint Mortgage Servicing Corporation placed the winning bid for an equity interest in a portfolio of 3,373 residential mortgage loans. Collectively, the loans have an unpaid principal balance of $490.7 million. They were seized by the federal agency from 19 failed banks between August 2008 and March 2009, and half are delinquent.

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Mortgage Investors Outline Steps to Restore Securitization Market

The Association of Mortgage Investors recently released a detailed set of guiding principles to Congress and regulators for how to overhaul the beleaguered securitization market in a manner that will ensure private sector demand for mortgages in the future, which the association says is crucial to the recovery of the global economy.

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Vermont AG Reaches Settlement With Countrywide

Vermont Attorney General William H. Sorrell announced Wednesday that Countrywide Financial Corporation, now a part of Bank of America, has entered into a settlement with his office to resolve claims concerning Countrywide's origination of home loans in past years. The agreement calls for Countrywide to pay $100,000, which will be disbursed to borrowers in the state whose Countrywide loans were foreclosed upon and used for general foreclosure prevention efforts.

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Credit Reporting Agency Offers Access to FHA TOTAL Scorecard

Credit Plus, Inc., a credit reporting agency based in Salisbury, Maryland, recently announced that its customers can obtain direct access to the Federal Housing Administration (FHA) Technology Open to Approved Lenders (TOTAL) Scorecard though the company's innovative technology.

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Freddie Mac Announces REO Auction Blitz Ahead of Tax Credit Deadline

Freddie Mac is riding the wave of the homebuyer tax credit, hoping it will be incentive enough to entice deal-seekers to snatch up foreclosed properties it has repossessed in the hard-hit Las Vegas and Southern California markets and put a dent in the GSE's swollen inventory of REO properties. Freddie officials announced Thursday that they plan to auction off hundreds of HomeSteps REO properties to individual homebuyers in these areas during the last week of April - just ahead of the contract deadline for the federal tax credit.

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Fixed Mortgage Rates Continue Upward Climb

Freddie Mac's weekly mortgage rates report released Wednesday may add to fears that the conclusion of the Fed's mortgage purchase program will cause interest rates to spike. For the week ending April 1, 2010, rates for 30-year fixed mortgages averaged 5.08 percent with an average 0.7 point--the second highest level this year.

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Default Servicing Tech Guide: First American Technology Solutions

The First American Corporation (NYSE: FAF) is a FORTUNE 500 company, with total revenues of approximately $6 billion in 2009. As a leading provider of innovative software solutions to the mortgage industry, First American Technology Solutions provides unparalleled efficiencies and savings across client value chains by delivering tested, proven enterprise technologies on a quarterly release cycle with the highest quality and innovative functionality.

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Valuing the Silverdome

Deflated in price and in purpose, the hotly debated Michigan arena rises to life again, thanks to globally targeted auction.

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Deterioration in Commercial Property Sector is Slowing: MBA

Economic factors, such as unemployment and consumers' controlled spending, continue to weigh heavy on the commercial real estate sector and drag down fundamentals, but the rate of deterioration appears to be moderating, the Mortgage Bankers Association (MBA) said Wednesday. The volume of commercial property sales picked up at the end of last year and prices are beginning to show stabilization, but MBA also noted that vacancy rates continue to increase across all property types and delinquencies are still climbing.

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