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Encore Equities Announces VP of Capital Markets

On Friday, Encore Equities, LLC, a subsidiary of Dallas-based Encore Enterprises, Inc, named Scot Clevenger as the company's VP of capital markets. In his new position, Clevenger will cultivate investor and partner relationships and identify projects that meet the company's investment criteria.

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Fannie Mae Offers Subsidy for REO Purchases

Fannie Mae says it will cover the closing costs on purchases of its REO homes - an incentive the GSE hopes will help it pare down a bloated supply of repossessed properties. From now until May 1, people purchasing a home through HomePath, Fannie Mae's REO disposition operation, will receive up to 3.5 percent of the final sales price, which can be applied toward closing costs or used to purchase appliances for their new home. At the end of September, Fannie Mae had 72,275 REO properties on its books, marking a 7 percent increase year-over-year.

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Short Sale Company Completes SAS 70 Type II Certification

Loan Resolution Corporation (LRC), a pre-foreclosure asset manager based in Scottsdale, Arizona, recently announced that it has successfully completed its Statement on Auditing Standards No. 70 (SAS 70) Type II certification, the widely recognized auditing standard developed by the American Institute of Certified Public Accountants.

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CRE Loan Prices Fall in December: DebtX

According to a recent report by DebtX, a full-service loan sale advisor based in Boston, the aggregate value of DebtX-priced commercial real estate (CRE) loans that collateralized commercial mortgage-backed securities (CMBS) dropped to 75.9 percent as of December 31, 2009, falling 1.8 percent from November 30, 2009.

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Freddie Mac Teams with Nonprofits on Borrower Outreach Pilot

Freddie Mac and 13 national and local nonprofit organizations have launched a pilot effort aimed at convincing discouraged delinquent borrowers to pursue mortgage workouts to save their homes from foreclosure. Freddie Mac has set up new Borrower Help Centers in Chicago, Phoenix, San Bernardino, and Washington, D.C. to provide mortgage counseling to delinquent Freddie Mac borrowers. The company is also launching a separate national phone campaign to reach distressed borrowers across the nation.

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Senior Managing Director Appointed at Clayton Holdings

Raymond A. Redlingshafer was recently named senior managing director of Clayton Holdings, LLC, a provider of customized risk analysis, loss mitigation, operational solutions, and staffing services to the mortgage industry, according to an announcement Thursday by the Shelton, Connecticut-based company.

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Rhode Island’s Annual Home Sales Soar in 2009

Marking the first year-over-year increase since 2004, single-family home sales in Rhode Island jumped nearly 12 percent in 2009 compared to 2008, according to The Warren Group, a Boston-based provider of real estate data in New England. With a total of 7,669 single-family home transactions recorded in 2009, sales were up 11.9 percent from 2008.

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Veros Adopts ASF LINC Loan Identification System

Veros Real Estate Solutions, a Santa Ana, California-based provider of enterprise risk management and collateral valuation services, announced Thursday that the company has adopted the American Securitization Forum (ASF) Loan Identification Number Code (ASF LINC).

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