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Mortgage Insurers Tackle Foreclosures

As unemployment and home foreclosures continue to rise and threaten the economic recovery, the mortgage insurance industry is stepping up its ongoing efforts to keep families in their homes. According to a statement from the Mortgage Insurance Companies of America (MICA) the industry has been at the forefront in developing systems and procedures to support the administration’s Home Affordable Refinance Program (HARP) and Home Affordable Modification Program (HAMP).

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Bernanke in the Hot Seat on Capitol Hill

During two days of congressional hearings this week, Federal Reserve Chairman Ben Bernanke told lawmakers he expects foreclosures to head higher still. He added that Fed officials anticipate an economic recovery to start off slowly, primarily because consumers are struggling with high debt and declining housing prices.

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Freddie: Long-Term Mortgage Rates Rise

Mortgage interest rates were mixed this past week with fixed-rate loans somewhat higher and adjustable-rate mortgages lower, according to numbers compiled by mortgage financier Freddie Mac. Still, housing affordability is the highest it’s been in many years, with significantly reduced rates and housing prices.

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Alabama Bankers Look to Wolters Kluwer for Mortgage Lending Compliance

Wolters Kluwer Financial Services announced Tuesday that the Alabama Bankers Association (ABA) has endorsed the company’s mortgage lending compliance solutions. The company explained that its mortgage compliance documentation solutions help institutions reduce regulatory and operational risk, increase speed-to-market, and close loans more efficiently.

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FHFA Reports a Rise in Home Prices

While many reputable real estate research firms have reported smaller declines in home prices in recent months, but declines nonetheless, the Federal Housing Finance Agency (FHFA) released a report today that says U.

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Massachusetts OKs Tax Credit Downpayment

Massachusetts Gov. Deval Patrick unveiled a statewide program last week that will allow first-time homebuyers to get an advance on the $8,000 federal tax credit to use toward downpayments and closing costs.

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MBA Survey: Mortgage Apps Increase Again

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey Wednesday, which showed an increase in home loan requests for the third week in a row. For the week ending July 17, 2009, MBA reported that total mortgage application volume rose 2.

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Arizona Realtor Distinguished for REO Work

Scott Gibson of RE/MAX Renaissance Realty – Gibson Laughton Group in Arizona, has been ranked No. 4 on the list of Top 100 Teams in the United States published by RE/MAX Mainstreet, according to standings for January through May of 2009 based on residential commissions paid.

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LOGS Member Firms Recognized by LPS

The LOGS Network, a consortium headquartered in Northbrook, Illinois, that provides legal and outsourcing solutions for the residential mortgage and consumer credit industries, has announced that its member firms received a total of 13 awards at the recent LPS Default Solutions Attorney Summit hosted by Lender Processing Services in Minneapolis, Minnesota.

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