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Freddie Mac has notified servicers that they are required to take part in mortgage assistance programs offered by state Housing Finance Agencies (HFAs) in connection with the federal government's Hardest Hit Fund initiative. The GSE says collaboration with state HFAs will provide additional support for servicers' efforts and ""our mutual commitment"" to help at-risk borrowers avoid foreclosure. HFA programs provide funds to servicers which may be applied to such criteria as loan-to-value ratios in order to help borrowers qualify for a modification.

Citing data from Lender Processing Services estimating more than 2 million properties in some state of foreclosure, Fitch Ratings says REO sales - both single-property and bulk sales - will be an integral component of the housing market over the next two years. However, the timing and method of disposition will have significant implications for home prices, according to Fitch. The agency notes that distressed properties generally sell at a substantial discount, further exacerbated by the presence of excess inventory.

At a Senate subcommittee hearing examining the progress of the foreclosure review process ordered earlier this year, lawmakers questioned officials from the Office of the Comptroller of the Currency and the Federal Reserve about the impartiality of the ""independent reviews."" Senators asked whether any of the consultants hired to conduct the reviews had worked with the servicers previously. The regulators admitted that some had. Members of the subcommittee say these past ties raise doubts about the true independence of the examiners.

NuView Financial Services provides services related to borrower outreach, loss mitigation, and short sale liquidation to mortgage servicers, insurers, and investors across the country. The company announced last week that it has retained Gilmore Consulting Group, LLC to manage partnership initiatives that include community and government relations. The collaboration aims to expand the role of counseling agencies, real estate professionals, and other critical stakeholders devoted to preserving communities.

Those keeping tabs on the Federal Reserve's movements were looking for a change in the central bank's communication strategy when officials emerged from their final policy meeting of the year on Tuesday. Some analysts were even anticipating the Fed to launch a third round of 'Quantitative Easing' measures. All expectations went unfulfilled. With Wall Street disappointed in the lack of action, mortgage rates dipped to new lows following the Fed's (non) announcement.

Brillion Asset Solutions, Inc., an asset management firm headquartered in Newport Beach, California, announced Tuesday that it has acquired Infinity National Asset Management, a San Diego-based REO asset management company. Terms of the transaction were not disclosed. According to a statement from Brillion, the acquisition increases its portfolio of clients and its real estate practitioner network to support a more efficient and timely disposition of non-performing assets.

While home values are continuing to decline, they are beginning to stabilize as the market nears the bottom, according to the Zillow Real Estate Market Report released Tuesday. On a yearly basis, the average home price fell 5.1 percent in October, arriving at $147,000. However, on a monthly basis, the drop was just 0.3 percent, demonstrating a deceleration from recent declines. In addition to stabilizing prices, Zillow reported another positive sign for the market, with the foreclosure liquidation rate slipping to 8.1 out of every 10,000 homes.

With the holiday season approaching, the tracking firm ForeclosureRadar is seeing declines in the number of completed foreclosures in four of the five states it monitors along the country's West Coast - California, Nevada, Oregon, and Washington. Only Arizona saw foreclosure sales rise in November, up 25 percent from October. Even with the recent increase, Arizona's numbers remain well below the state's monthly average for the year. Sales of foreclosures to third-party investors have risen sharply when compared to year-ago levels.

Urban Lending Solutions, a provider of loan modifications, valuations, and other real estate information solutions, announced Monday that Thomas ""T.J."" Lewis, Jr. has accepted an expanded role within the company as corporate diversity and business development executive. Lewis has been actively involved in business development for the company since 2009. In 2012, Lewis will expand his role with a new focus on diversity, leading the company into new contracts with major banks and bringing new minority suppliers into the company's service.

State attorneys general and the nation's five largest mortgage servicers have been supposedly close to a settlement for quite some time. The latest estimate is that they are likely to reach an agreement before Christmas. A local Iowa media outlet attributes this information to Iowa Attorney General Tom Miller, head of the states' negotiating committee. Miller says the settlement would release the banks from legal claims on past servicing and foreclosure practices but would not provide any release on securitizations.