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Foreclosure-Focused Reality TV Show to Debut in October

The show, titled ""Foreclosure 2 Fabulous,"" follows host Patrick Colville and his family and friends as they help participants buy, renovate, and refurnish foreclosed vacation properties within a five-day period. The program is designed to show participants and viewers how they can ""own and enjoy their own little piece of paradise.""

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July Home Prices See Biggest Yearly Increase Since 2006: CoreLogic

Home prices in July saw the biggest nationwide year-over-year increase since August 2006, CoreLogic reported Tuesday. According to the company's July Home Price Index (HPI), home prices-including distressed sales-increased year-over-year by 3.8 percent in July. On a month-over-month basis, prices increased 1.3 percent from June. July marked the fifth consecutive increase in home prices on both a monthly and yearly basis.

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Ten States with the Biggest Foreclosure Discounts: RealtyTrac

While RealtyTrac found that the average foreclosure discount is 31.74 percent, found that the nationwide average for foreclosure discounts is 31.74 percent, there are some states that are much more generous. Foreclosure discounts include homes in foreclosure or properties that are bank-owned.

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NCUA: Q2 Growth in Credit Union Lending Biggest Since 2008

Credit unions found reason to celebrate recently, with the National Credit Union Administration revealing that unions saw their biggest quarterly push in lending since fall 2008. According to the report, released on Friday, credit unions signed off on $581.7 billion in outstanding total loans over the second quarter. The uptick marks the fifth straight quarterly increase for total loans and helped credit unions originate 1.7 percent more home loans from the quarter before.

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CFPB Announces Additions to Leadership

The Consumer Financial Protection Bureau recently unveiled several recent changes of guard for senior personnel. The bureau said in a release last week that Kelly Thompson Cochran, Chris Lipsett, Stephen van Meter, and Delicia Reynold Hand would move into senior roles.

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St. Louis County Passes Foreclosure Mediation Ordinance

Banks may have the right to schedule a foreclosure sale for past due borrowers, but in St. Louis County, homeowners will get a chance to schedule a mediation with their lender before facing foreclosure. On August 28, the St. Louis County Council passed an ordinance that will require lenders to provide homeowners with a notice advising them of their right to request mediation.

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CMBS Special Servicer Volume Falls Despite Slowing Workouts

The slowing pace of workouts hasn't stopped CMBS special servicer volume from falling, Fitch Ratings reported. According to Fitch's weekly U.S. CMBS Market Trends newsletter, the balance of loans in special servicing as of June 30 was $80.5 billion, a drop from $83.1 billion at the end of 2011 and $85.6 billion in June 2011. This news comes despite a slowdown in resolutions in the year's first half, with 1,242 loans resolved in that time (compared to 1,556 in the first half of 2011).

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Mortgage Fraud Increases as Applicants Mislead Lenders: Experian

While fraud in the financial services sector declined year-over-year from April through June, mortgage fraud increased, according to the latest report from Experian, a global information services company based in London. Thirty-nine out of every 10,000 mortgage applications were fraudulent during the April to June period, up from 32 out of 10,000 in the same period last year, according to Experian. Twenty-four percent of all attempted mortgage fraud cases were the result of individuals misrepresenting their credit by hiding certain information.

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