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Keystone Asset Management Continues Growth

Keystone Asset Management Inc. has relocated to a new corporate facility and is launching a brand new image campaign as part of its growth and strategic development. As a national provider of REO outsourcing, default management and property valuation services, the company says it is affirming its commitment to the default industry with the purchase of a new office building in Colmar, Pennsylvania, aimed at increasing workplace efficiencies and featuring client-based processing stations.

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U.S. Bank to Incorporate New Collateral Valuation Report for Appraisals

Minneapolis-based U.S. Bank, the fifth largest commercial bank in the United States, recently announced that it will start to incorporate the new Collateral Valuation Report (CVR) into its product pipeline for lending solutions. As part of this product incorporation, Forsythe Appraisals, LLC, an independent provider of residential real estate appraisals, and Valocity, LLC, a nationwide valuations provider, have been selected by U.S. Bank to provide the new CVR appraisal report on a nationwide basis.

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Mortgage Rates Dip Following Disappointing Employment Report

The journey downward has begun again. After remaining relatively steady last week, mortgage rates this week hit new lows, as indicated by industry reports released Thursday. Freddie Mac says 30-year fixed-rate mortgages are now averaging 4.72 percent. The GSE's chief economist, Frank Nothaft, explained that bond yields headed lower this week following the relatively weak employment report, and mortgage rates followed.

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Condo Terminators Completes Florida’s First Mass Short Sale

Condo Terminators, a specialty consulting group of Morningside Mortgage Corporation, in Bay Harbor Islands, Florida, has completed the filing process for what the company says is Florida's first mass short sale of a failed condominium conversion. The company says this project is expected to lead a wave of ""condominium terminations,"" resulting in mass short sales of failed condominiums and reversions to apartment buildings.

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Foreclosure Filings Down 3%: RealtyTrac

Foreclosure activity dropped 3 percent from April to May, according to new data from RealtyTrac. It's the second month in a row the company has recorded a decline. In May, a total of 322,920 properties received a foreclosure filing. That figure equates to one in every 400 U.S. housing units. RealtyTrac says the data confirms that foreclosure activity is leveling off, even as lenders work through the big backlog of forestalled foreclosures and delayed repossessions that have built up over the past two years.

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IndiSoft’s RxOffice Platform Reaches Milestone, Tops 18M Transactions

IndiSoft, LLC, a Columbia, Maryland-based technology developer focusing its efforts on the default service management industry, announced Wednesday that more than 18 million transactions have been processed through its RxOffice platform since 2008. In addition the company announced that it is in line to receive third-party certification from Microsoft, which will validate the platform's security and scalability.

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Negative Equity Could Push Homeownership Rate Lower: New York Fed

The collapse of the housing market and the sharp rise in unemployment have caused the U.S. homeownership rate to fall to 67.2 percent -- essentially a reversion to the level of 10 years ago. A new report by economists at the Federal Reserve Bank of New York warns that the rate is likely to drop even lower, as homeowners with negative equity decide the benefits of renting outweigh the costs of homeownership.

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Elk Software Customizes Short Sale Technology for RE/MAX Agents

As the government and the mortgage industry continue to work together to curb foreclosures, RE/MAX agents are doing their part to help facilitate short sale transactions, using their certified training and a new customized version of Michigan-based Elk Software's flagship technology platform, Short Sale Commander.

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Idaho HFA Launches Low Downpayment Financing Initiative

In an effort to make homeownership a real possibility for residents across the state, Idaho Housing and Finance Association has launched a new product for creditworthy borrowers through its IdaMortage program. According to the association, the new Affordable Advantage Loan offers a down payment as low as $1,000 and has a low-cost, 30-year fixed interest rate. In addition, the loan has no mortgage insurance requirement, saving qualified borrowers money on their mortgage payment every month.

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Companies Join Forces to Create CRE Appraisal Firm in Central Florida

FirstService PGP Valuation and Colliers Arnold jointly announced Tuesday that they have teamed up to create a commercial real estate appraisal firm in Central Florida. According to the companies, this new firm - Colliers International Valuation & Advisory Services Central Florida - will serve as an appraisal service provider across the Central Florida region while expanding the service line reach of the Colliers International enterprise, which encompasses more than 480 offices throughout the world.

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