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eClosingNet Quickly Gains Industry Acceptance

The innovative eClosingNet (eCN) service offered by eLynx, a Cincinnati-based portfolio company of American Capital, has gained industry acceptance quicker than anticipated, according to a recent announcement by the company.

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New Integration Launched by Ellie Mae and Mortech

Lincoln, Nebraska-based Mortech, Inc., a mortgage technology software company, has joined forces with Ellie Mae, the Pleasanton, California-based provider of enterprise mortgage origination technology solutions, to create an integrated offering of the companies' flagship solutions.

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ISGN Adds Invoice Processing to Default Management System

ISGN Corporation has added a new Invoice Processing System (IPS) to its LenStar technology, a Web-based attorney and referral communication system for the default management market. The company says the new solution allows lenders and their attorneys and vendors to settle accounts payable and receivable quicker and with fewer errors than with manually toggling between accounting and invoicing systems.

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Homeownership Hits Lowest Mark in a Decade

With foreclosures still rising and potential homebuyers still reluctant to get into the market, homeownership in the United States has hit a 10-year low. According to the Census Bureau, the homeownership rate fell to 67.2 percent at the end of last year. Homeownership has been on a steady downward slope since 2006, when housing woes began to eat away at the government's long-time push to make the American Dream a reality for anyone that wanted it.

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House Committee to Investigate Obama’s Modification Program

The House Committee on Oversight and Government Reform has launched an official investigation into the federal government's foreclosure prevention program. According to a statement from the head of the committee, the probe was triggered by complaints that servicers have been slow and inconsistent in modifying loans under the Making Home Affordable (MHA) program, and are not communicating clearly with eligible homeowners.

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Appraisal Management Firm Joins Ellie Mae Network

Service 1st Valuation and Settlement Services, Inc., a national appraisal management firm based in Pittsburgh, has joined the Ellie Mae Network, according to an announcement Monday. Connectivity to the network is integrated in Ellie Mae's Encompass360 management software, which is used by mortgage bankers, mortgage brokers, community banks, credit unions, and national and regional lenders across the nation.

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TenantAccess Addresses Aftermath of Tenant Foreclosure Law

In an effort to help the industry cope with the aftermath of the Protecting Tenants at Foreclosure Act (PTAFA), Austin, Texas-based TenantAccess offers a comprehensive, end-to-end solution called the Tenant Protection Response Program (TPRP) and is now providing tier 1 banks, servicers, and asset managers relief from the property and tenant management responsibilities they have acquired as a result of this legislature.

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iEmergent Updates 2010-2014 Mortgage Volume Forecast

Noting a decrease in both purchase volume and refinance activity from 2009, the first-quarter update to iEmergent's formal 2010-2014 Mortgage Volume Forecast was recently released by the Des Moines, Iowa-based market research, forecasting, and advisory services firm

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Commercial Real Estate Lenders Looking to Rebuild Portfolios

The distressed commercial real estate market has made it difficult for potential property owners and opportunistic investors to secure funding for new deals, as widespread losses on such assets have led banks to shy away from extending credit in recent months. But according to new data from Jones Lang LaSalle that tide appears to have turned, with a growing number of lenders to the commercial real estate sector anticipating an increase in loan production this year.

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RE/MAX Dominates Twin Cities Metro Market in 2009

Despite the static housing economy, RE/MAX, a global real estate company based in Denver, earned No. 1 market share status in the Twin Cities 13-county metro for number of listings sold between January 1, 2009 and December 31, 2009. In addition to earning No. 1 market share in the Twin Cities 13-county metro, RE/MAX agents proved to be the most productive agents in the metro for 2009, the company said.

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