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President Signs Mortgage Bills

President Barack Obama signed two housing bills into law on Wednesday afternoon – one that provides additional foreclosure relief and a second that targets mortgage fraud and other criminal activity related to federal assistance programs.

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Treasury Adds New Program Elements to Avert Foreclosures

The Treasury announced new initiatives under the administration’s Making Home Affordable program late last week to provide additional options for homeowners facing foreclosure. The first of the two new program components is intended to help borrowers obtain modifications in those markets experiencing severe home price declines.

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Mortgage Apps Increase in Latest Survey

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey on Wednesday, which showed a slight increase in home loan activity due to a renewed uptick in the demand for refinancings.

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Gerner & Kearns Names New Associates

Cincinnati-based Gerner & Kearns, Co., L.P.A. (G&K) has named Margaret E. Cunningham and Erin K. McConnell as associates in the firm’s default services and real estate practice groups. Cunningham received her juris doctor from the Salmon P.

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Big Banks Apply For TARP Repayment

Goldman Sachs, JP Morgan Chase, and Morgan Stanley have applied to repay the federal funding they received under the Troubled Asset Relief Program (TARP), according to a Tuesday report by Bloomberg News:http://www.

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Record Foreclosures Continue In April

One in every 374 housing units in the United States received a foreclosure filing in April, according to RealtyTrac’s Foreclosure Market Report released last week. April’s national foreclosure rate was the highest posted since RealtyTrac began issuing its report in January 2005.

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Report: Title Industry Hit Hard in 2008

Movers & Shakers, people, Stewart Lender Services

Based on Demotech’s Performance of Title Insurance Companies report:http://www.thetitlereport.com/ME2/Audiences/Default.asp, 2008 proved to be the title insurance industry’s worst in 20 years.

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Huntington Bank and Columbus Housing Group Work to Save Homes in Ohio

Huntington Bank and Columbus Housing Partnership have joined forces to stabilize homeownership in Central Ohio. The two have formed the Huntington Homeownership Alliance, a three-year, $10 million project that will provide the area’s residents with homeownership counseling, foreclosure avoidance services, and more affordable mortgages.

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Analysis: GSE Subsidies to Surpass TARP

According to recent analysis released by Subsidyscope , an initiative of the Washington, D.C.-based nonprofit advocacy group The Pew Charitable Trusts , federal subsidies to the government-controlled housing financiers Fannie Mae and Freddie Mac could reach $290 billion in fiscal year 2009.

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Survey: Economy Influencing Movers

Just as the Great Depression contributed to large-scale migrations from certain parts of the United States, the current recession could be having a similar, historic effect, a new survey from Relocation.

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