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DebtX Announces Sale of Two Portfolios and Rise in CRE Loan Prices

DebtX, a Boston-based loan sale advisor, recently announced that it plans to sell two portfolios of nonperforming loans, totaling more than $410 million - one for HUD and one for a lender in the western U.S. The company also reported that commercial real estate loan prices increased in January.

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LPS Opens Washington, D.C. Office

Lender Processing Services (LPS) is putting down stakes in the nation's Capitol. The mortgage technology and services company said Thursday that it has just opened a new Washington, D.C. office to better serve the contractual relationships it already has with a number of federal agencies and pursue opportunities with new government partners.

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Home Prices Up 5% Year-Over-Year: Clear Capital

New data released by Clear Capital Thursday shows that home prices nationally are up 5.0 percent compared to February 2009. It's the second straight month that year-over-year price variations have been in positive territory. Clear Capital also reported that REO saturation increased in February, but that was expected with the typical winter slowdown in sales. Regarding the threat of a shadow inventory, the company suspects this inflow will arrive with a stronger springtime and summer buying season, helping to ease the shock to the marketplace.

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Fed’s Vice Chairman Submits Resignation

The Federal Reserve Board's No. 2 has submitted his resignation. Donald L. Kohn said Monday that he will step down from his post as vice chairman when his current term expires on June 23. Kohn, 67, has been a member of the Fed board since August 2002 and served as its second-in-command since June 2006.

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Accurate Title Group Releases Good Faith Estimate Calculator

In response to the new regulations under the Real Estate Settlement Procedures Act (RESPA), Accurate Title Group, LLC (ATG), a full-service appraisal, title insurance, closing, and settlement provider based in Huntersville, North Carolina, recently announced the release of its TAG Good Faith Estimate Calculator (TAG GFE).

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Specialized Asset Management Markets REO Assets on RealtyTrac

To better market its foreclosure listings, Highlands Ranch, Colorado-based Specialized Asset Management LLC (SAM), a national provider of asset marketing and disposition services to mortgage lenders, servicers, and investors, recently partnered with RealtyTrac, an online foreclosure marketplace headquartered in Irvine, California.

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Ocwen Backs Principal Reductions, Mandatory Outsourcing to Improve HAMP

Ocwen Financial has one of the industry's most impressive track records when it comes to restructuring loans under the Home Affordable Modification Program (HAMP). The company is converting trials to permanent mods at a rate that is 10 to 20 times higher than some of the biggest banks, and its re-default rate is under 5 percent. Based on his company's success, Ocwen's president has proposed several changes to improve HAMP, including principal writedowns and requiring underperforming servicers to outsource their HAMP processes.

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Strategic Analytics Joins Interthinx Business Unit

Jersey City, New Jersey-based Verisk Analytics, Inc., a provider of risk assessment solutions, recently purchased Strategic Analytics, a Santa Fe, New Mexico-based provider of credit risk and capital management solutions to consumers and mortgage lenders. As a result of this acquisition, Strategic Analytics will be part of the Interthinx business unit, a subsidiary of Verisk Analytics and a provider of risk mitigation and regulatory compliance tools for the financial services industry.

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Company Targets Shadow Inventory with 48-Hour Short Sales

Loan Resolution Corporation said Wednesday that it is implementing a pre-approved short sale program to help the 8 million homeowners who are currently delinquent on their mortgages. The company says its streamlined process can turn a short sale decision within 48 hours.

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Appraisal Institute Publishes First Audio Book

In an effort to help appraisers meet the competency and ethical standards of the profession, the Chicago-based Appraisal Institute, a global membership association of real estate appraisers, has published its first audio book -- ""Scope of Work,"" by Stephanie Coleman.

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