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Deterioration in Commercial Property Sector is Slowing: MBA

Economic factors, such as unemployment and consumers' controlled spending, continue to weigh heavy on the commercial real estate sector and drag down fundamentals, but the rate of deterioration appears to be moderating, the Mortgage Bankers Association (MBA) said Wednesday. The volume of commercial property sales picked up at the end of last year and prices are beginning to show stabilization, but MBA also noted that vacancy rates continue to increase across all property types and delinquencies are still climbing.

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Retreat Capital Extends Property Preservation Services to Clients

Retreat Capital Management Group, a Lake Forest, California-based provider of loss mitigation and portfolio management products, announced Tuesday that it is now offering property preservation services to its clients through a partnership with Elevate Property Services, based in Santa Fe Springs, California.

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MRG Named RegulatorConnect Certified Partner by ComplianceEase

MRG Document Technologies (MRG), a Dallas-based provider of mortgage document preparation and compliance technology to lenders across the nation, recently announced that it has been named a RegulatorConnect certified partner by ComplianceEase, a San Francisco-based provider of intelligent business solutions to the financial services industry.

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Florida’s Home Price Outlook Not So Sunny, California Fares Better

In its 12-month home price forecast issued Wednesday, Veros Real Estate Solutions said it had ""continued bad news for Florida."" Markets in the Sunshine State claimed the top five spots on the company's list of areas where prices are expected to drop the most over the next year. One of the other big bust states - California - shows more promise, according to Veros' analysis. The Golden State is home to three of the five markets the company expects to post the strongest price gains over the next 12 months.

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Non-HAMP Mods Account for Two-Thirds of Modifications in February

New data from HOPE NOW shows that servicers completed more than 95,000 loan modifications through their own proprietary programs in February. That's almost double the 52,000 modifications finalized under the government's Home Affordable Modification Program (HAMP) during the same month. The report also showed declines in the number of 60-day delinquencies and foreclosure starts and sales.

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Poll Shows Majority Wants Government to Stay Out of Foreclosure Crisis

The government recently ramped up its efforts to help at-risk borrowers, but according to a recent opinion poll by Destin, Florida-based Housing Predictor, that's not what the majority of people want. Despite the impact it would have on the U.S. economy, 78 percent of those polled said they want the government to let home foreclosures run their course instead of making efforts to stop the crisis.

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Fed’s Mortgage Purchase Program Sunsets

The Federal Reserve's role as buttress and benefactor of the nation's mortgage debt market came to an end Wednesday. Since November 2008, the central bank has been the market's No. 1 patron, buying up $1.25 trillion in mortgage-backed securities. Fears have surfaced that the Fed's exit could leave a gaping hole in the secondary market, causing interest rates for home loans to spike and buyer demand to dwindle. But analysts say private investors will pick up the slack and rates will rise less than a quarter of a percentage point over the next quarter.

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Mortgage Applications Increase as Purchase Activity Soars

Following two consecutive weeks of decreased activity, mortgage application volume increased 1.3 percent for the week ending March 26, 2010, the Mortgage Bankers Association (MBA) reported Wednesday. The jump in application volume was the result of an overwhelming increase in purchase activity.

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Real Estate Confidence Index Rebounds in March

Although the real estate market still has a long way to go on the road to recovery, confidence in the market is increasing, according to the March 2010 Real Estate Confidence Index (RECI) survey released by Point2 Technologies, a Web-based inventory management and online marketing software developer.

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