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eMASON Announces Fannie Upgrades to Clarifire

Clearwater, Florida-based eMASON, Inc. has announced key product upgrades to its Clarifire application that the company says will provide increased flexibility and expanded capabilities. Clarifire now features certified Fannie Mae loss mitigation business rules for HomeSaver Advance and pre-foreclosure sale workout types, as well as a direct connection to Fannie Mae’s system of record, Home Saver Solutions Network (HSSN).

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BofA CEO Subpoenaed by New York AG

Bank of America’s chairman and CEO, Kenneth Lewis, has been issued a subpoena by New York State Attorney General Andrew Cuomo. According to a CNN:http://www.cnn.com/CRIME/ report, Cuomo is investigating whether Bank of America, which completed its acquisition of Merrill Lynch on January 1st, violated state law by withholding information from investors.

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Lockhart Addresses Secondary Market Modifications

James B. Lockhart III, director of the Federal Housing Finance Agency (FHFA) overseeing GSEs Fannie Mae and Freddie Mac, recently spoke with members of the American Securitization Forum (ASF) about the role the secondary mortgage market must play in the nation’s housing recovery.

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ELK Upgrades Short Sale Technology

Livonia, Michigan-based ELK Software LLC, a short sale and loan modification software and services provider for the industry, has released version 1.5 of its Web-based Short Sale Commander technology. Among the system’s enhancements are upgrades that simplify data entry and allow users to run a completely paperless short sale business.

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Bay State Foreclosure Deeds Jump in January

According to a report released today by Boston-based The Warren Group, foreclosure deeds in Massachusetts climbed during the month of January. Foreclosure petitions were also up from December, but actually declined 39 percent from a year earlier, the research company said.

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ISGN Announces LenStar Enhancements

Bensalem, Pennsylvania-based ISGN Corporation, a global provider of mortgage solutions and technology products, has announced several new enhancements to its LenStar technology, a web-based attorney and referral communication system for the default management market.

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Weekly Mortgage Rates Drop

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) for the week ending February 19, 2009, showing that mortgage rates fell for all loan products this week. The GSE reported that the 30-year fixed-rate mortgage (FRM) this week averaged 5.

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Fed Gives Dismal Economic Outlook

On Wednesday, the same day President Obama announced the government’s most aggressive effort yet to ignite a housing recovery, the Federal Reserve diminished its economic outlook for 2009 and warned that the U.

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Mortgage Apps Up 45 Percent

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 13, 2009. The Market Composite Index, a measure of mortgage loan application volume, increased 45.

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