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Bringing Hope Home Tour Rolls Into Atlanta

HOPE NOW’s ‘Bringing Hope Home’ bus tour made its way to Atlanta on Saturday, the second stop in a four-city journey to raise awareness about the foreclosure problems facing families in local communities and direct struggling homeowners to the resources available in their area that can help them avoid losing their homes.

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Fannie CEO Nominated for Treasury Post

President Barack Obama announced his formal nomination of Fannie Mae’s chief executive Herb Allison to run the Treasury’s $700 billion bank rescue program on Friday. The official presidential nod was widely expected, although the nomination still requires confirmation from the Senate before Allison can take up his post in the Treasury office.

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PMI Opens Electronic Insurance Requests to All Lenders

Walnut Creek, California-based PMI Mortgage Insurance Co. has made its secure online mortgage insurance ordering system available to all lenders. Previously, only lenders with delegated authority to underwrite the mortgage insurance themselves benefited from the electronic ordering process.

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Treasury Collects $2.5B In Bank Dividends

The U.S. Treasury said on Friday that American taxpayers have already begun to get back some of the money that they’ve invested to bailout the nation’s banks. The Treasury has collected $2.

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Loan Mods at Fannie, Freddie on the Rise

Mortgage giants Fannie Mae and Freddie Mac modified nearly 24,000 loans during the fourth quarter of 2008, an increase of 76 percent over the third quarter, according to data released this week by the GSEs’ regulator, the Federal Housing Finance Agency (FHFA).

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ServiceLink Unveils HVCC Appraiser Tool

Coraopolis, Pennsylvania-based ServiceLink, a provider of origination and default services and the national mortgage services platform of Fidelity National Financial, has launched their Appraiser Panel Management (APM) product line.

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South Florida REOs Jump, But Inventory Has Begun to Dwindle

Lenders took back 7,300 foreclosed properties in the tri-county South Florida area during the first quarter of the year – representing a 54 percent increase over the same period in 2008 – according to a new report from Condo Vultures LLC, which provides residential real estate data for some of the markets hardest hit by the housing crisis, including South Florida, Las Vegas, Los Angeles, Phoenix, and San Diego.

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Foreclosures Continue to Climb in Q1

RealtyTrac released its U.S. Foreclosure Market Report for the first quarter of 2009 on Thursday, which showed that one in every 159 housing units in the nation received a foreclosure filing during the first three months of the year.

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Fed Purchases $21B in Agency MBS

The New York Federal Reserve Bank purchased $21.75 billion in mortgage-backed securities (MBS) from government agencies this week. Total MBS purchases since the Fed program began in early January now stands at $355 billion.

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