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Six Servicers Sign to Federal Mod Program

The Obama administration has released the names of the first six mortgage companies to officially ink their commitment to participate in the government’s Home Affordable Modification Program (HMP).

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Keller Williams Teams With Aspen Grove for REO Management

Maryland-based Aspen Grove’s Aspen iAgent technology has been approved as the default REO solution for Keller Williams Realty agents across the United States. Aspen iAgent allows real estate agents to manage REO properties, from assignment through closing, via a secure, Web-hosted application.

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Retreat Capital and Ellie Mae Partner to Provide Loan Mods

Lake Forest, California-based Retreat Capital Management, Inc., a third-party arbitration services company that specializes in bringing loans back to performing status and keeping borrowers in their homes, announced on Wednesday that it is collaborating with software provider Ellie Mae to provide lenders with loan modification services.

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Long-Term Mortgage Rates Recede

Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) on Thursday, which showed interest rates on fixed-rate home loans and some adjustable-rate products eased this week. The GSE reported that the 30-year fixed-rate mortgage (FRM) averaged 4.

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Lenders Step Up Foreclosures As Moratoriums Expire

Foreclosure floodgates may soon give way as the nation’s leading mortgage lenders lift their recent foreclosure suspensions and move those borrowers that are ineligible for federal programs on through the property repossession process.

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Lend America Ups 2009 Projection, Launches Fannie Servicing

Melville, New York-based Lend America, a direct-to-consumer Federal Housing Administration (FHA) lender, recently announced that it has raised its 2009 projection. Based on the company’s first quarter business, Lend America estimates that its servicing assets will surpass $1 billion by the end of the second quarter of 2009 and grow to over $2 billion by December 31, 2009, a 33 percent increase over the company’s previous forecast.

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Treasury Releases Lending Survey

The Treasury Department released its February lending survey on Wednesday. The study covers the top 21 institutions who have received a government investment through the Capital Purchase Program (CAP).

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States Move Toward Electronic Property Registration

The Virginia Legislature has passed House Bill 2150, which would allow lenders and servicers to register their foreclosed properties, for the purpose of property preservation tracking, with the Mortgage Electronic Registration System (MERS) instead of using individual municipal registration databases.

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Indiana AG Sues Foreclosure Consultants

Indiana Attorney General Greg Zoeller filed lawsuits in Boone, Clark, Delaware, Grant, and Marion counties last week against five foreclosure consultant companies. The lawsuits filed cite violations of three state laws including the Deceptive Consumer Sales Act, Credit Services Organizations Act, and the Mortgage Rescue Protection Fraud Act.

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Visionet's Outsourcing Business Doubles With Refinance Boom

The recent boom in refinances as homeowners try to cash in on record-low mortgage rates has been a pleasant surprise for Cranbury, New Jersey-based Visionet Systems. The company says that its process outsourcing business doubled during the first quarter of this year as a result of the surge in home loan refinances.

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