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CMBS Delinquencies Hit New All-Time High

Overdue loans in pools of commercial mortgage-backed securities (CMBS) continue to mount. Although the rate of increase slowed from March's breakneck pace, the research firm Trepp LLC reported Monday that the percentage of CMBS loans 30 or more days delinquent, in foreclosure, or classified as REO jumped 41 basis points last month, putting the overall delinquency rate at 8.02 percent. Fitch Ratings says the default rate for its CMBS-rated universe is even higher, hitting 8.15 percent at the end of Q1 2010.

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Valligent and Global DMS Release New Valuation Technology Service

Valligent, a Roseville, California-based provider of collateral valuation and risk management solutions, and Global DMS, a Lansdale, Pennsylvania-based provider of appraisal process management solutions, recently launched an end-to-end valuation service for ordering, managing, and delivering a full range of valuation products in MISMO-sanctioned XML data format -- all in full compliance with major guidelines and regulations.

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Regulators Seize Seven Community Banks

Soured loans continue to bring down financial institutions in mass. Seven more community banks were shuttered by regulators over the weekend, bringing the total number of FDIC-insured failures to 64 for the year. The latest round of closures targeted banks in Puerto Rico, Michigan, Missouri, and Washington, and will cost the FDIC more than $7 billion.

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Texas Housing Market Shows Signs of Stabilization in Q1 2010

The Texas housing market may be on the road to recovery. According to the latest Texas Quarterly Housing Report released Monday by the Texas Association of Realtors, both sales and prices for homes in the Lone Star State increased on a year-over-year basis in the first quarter of this year. Sales volume for existing single-family homes was 42,682 for the first three months of 2010, up 4 percent from the same period in 2009. In addition, the median home price jumped 3.13 percent from $137,200 in the first quarter of last year to $141,500 in the first quarter of this year.

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Risks Continue to Hinder Commercial Real Estate Investment Activity

As for commercial real estate, now is the time to invest. But according to a report from the CCIM Institute and the Real Estate Research Corporation, various risks are hindering commercial real estate investors from doing so. Their report says 2010 is ""a once-in-a-lifetime opportunity"" to snag key long-term investments, but market factors such as diminished demand for commercial space due to high unemployment and declining rents are holding some investors back.

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PMI’s Index Shows Decline in Risk of Home Prices Heading Lower

PMI Mortgage Insurance Co. released its second quarter 2010 U.S. Market Risk Index Monday, which showed that the likelihood home prices will take another dive is steadily diminishing. The company found that the risk of falling home prices increased in only one of the 384 metros in its study. According to PMI, a combination of factors led to declining risk in most geographic areas, including affordability, a general improvement in mortgage credit quality, decreasing foreclosure rates, and a drop in excess housing supply.

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a la mode Expands Its SureDocs e-Signature Service

a la mode, inc. recently announced that it has broadened its SureDocs e-Signature system to include market-specific versions for appraisers and real estate agents. The company said the deployment of appraiser and agent versions of SureDocs, shortly after FHA's confirmation that it now accepts electronic signatures on third party documents, is a huge step forward in truly creating paperless loans with all of the documents being ""first generation"" electronic files.

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Colorado Governor Signs Law to Fast-Track Sales of Foreclosed Homes

Colorado lawmakers are hoping to mitigate the effects widespread foreclosures are having on local communities in the state. This week, Gov. Bill Ritter signed into law a bill that he says will secure neighborhoods against abandoned properties that have fallen into foreclosure by cutting in half the minimum time frame for a foreclosure sale, as mandated by the state.

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Prudential Launches New Loan Program for Multifamily Properties

Prudential Mortgage Capital Company, a commercial and multifamily mortgage finance business based in Newark, New Jersey, announced Friday that it has launched the Agency Gateway program, a new short term loan program for multifamily property owners seeking to refinance or acquire properties that do not currently qualify for a Fannie Mae or Freddie Mac permanent loan.

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