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Encore Multi-Family Appoints New President

Encore Multi-Family, a subsidiary of Dallas-based Encore Enterprises, Inc., announced Monday that Brad Miller has been named president of the company. Miller has more than three decades' experience in real estate investment and development and brings multiple market expertise in investment analysis, distresses asset acquisition, fee management, and complex land settlements to his new position with the company.

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Freddie Mac Sees Stabilization in Home Prices

Freddie Mac said Tuesday that its home price index for conventional mortgages it purchased last year registered a 0.4 percent decline from the fourth quarter of 2008 to the fourth quarter of 2009. The GSE was quick to point out that this was a much smaller decline than the 9.5 percent drop in home prices recorded in 2008. Four out of nine census regions posted annual price gains, with the Pacific part of the country leading the way with a 1.6 percent increase.

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Bay State Foreclosure Report Mixed in January

Data regarding Massachusetts foreclosures in January was mixed, according to the most recent report released Tuesday by The Warren Group, a Boston-based provider of real estate data in New England. While lenders initiated fewer foreclosures in January, the number of completed foreclosures increased.

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Foreclosure Overhang Hinders Home Price Appreciation: Barclays

A number of the industry's closely-watched home price gauges indicate that stabilization has been slowly creeping into the picture since mid-2009. Analysts at Barclays Capital agree that the risk of a sharp decline in housing continues to recede with every passing month. But they caution that home prices nationally will drop another 4 to 5 percent before officially hitting bottom, and there's little chance of sustained gains any time soon thanks to an inflated supply of foreclosures.

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Foreclosures Decrease in January: Report

According to statistics from Miami-based Bank Foreclosures Sale, an online listing service, foreclosure rates in states across the nation were significantly lower in January. The company reported that the number of foreclosures for sale fell to 315,710, marking a 10 percent decline from December. While these positive figures may have some thinking ""housing recovery,"" experts say it is important to note that January's numbers are still 15 percent higher than a year earlier.

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Veros Enhances Risk Management Platform

To further automate servicer processes, Santa Ana, California-based Veros Real Estate Solutions, a provider of risk management and collateral valuation services, recently added new capabilities to its Valuation Risk Management (VRM) platform. Veros said the new enhancements to the platform will allow servicers to automate several time-consuming processes as they struggle to deal with rapidly expanding delinquencies.

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IBM Completes Acquisition of Wilshire Credit

International Business Machines Corp. (IBM) said Monday that it has finalized its acquisition of the core operating assets of Wilshire Credit Corporation from Bank of America. The deal solidifies IBM's presence in the mortgage market, where technology-based service providers have been under increasing pressure to accommodate servicers' rising modification and foreclosure volumes.

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Americans Strongly Support Government Housing Initiatives: Survey

Americans remain strongly committed to federal support for homebuyers, and many believe the government should provide more protection against foreclosure, according to the results of a recent survey published by the National Association of Home Builders. Thirty-three percent of those surveyed say they are planning to buy a home in the near future. Personal financial concerns, as well as weakness in the housing market itself, were cited as reasons this statistic wasn't higher.

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U.S. Treasury Advisors Join The Cypress Group

One of the first senior-level officials to leave the Treasury Department since President Obama took office is headed to The Cypress Group as a congressional lobbyist. Damon Munchus, who served as the deputy assistant secretary for banking and finance, will open the Cypress Group's New York office as a managing director. The firm is also opening an office in Dallas headed by Jeb Mason, managing director. Mason served as the Treasury's deputy assistant secretary for business affairs under former Secretary Henry M. Paulson, Jr.

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