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Rhode Island Home Sales Surge 11 Percent in October

Single-family home sales in Rhode Island jumped 11 percent in October from a year earlier, the first double-digit percentage gain in monthly home sales in four years and the first significant increase in sales this year, according to a new report from The Warren Group.

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FHFA Reports to Congress on Foreclosure Assistance

Federal Housing Finance Agency (FHFA) Director James B. Lockhart submitted the agency’s first report to Congress yesterday detailing actions FHFA and the government-sponsored enterprises (GSEs) are taking to prevent unnecessary foreclosures.

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UFA Default Risk Index: Light at the End of the Tunnel or Severe Recession?

According to University Financial Associates LLC (UFA) in Ann Arbor, Michigan, we can expect defaults on non-prime mortgage loans to be 48 percent higher than they were in the last decade. Each quarter UFA evaluates economic conditions in the United States and assesses how these conditions will impact future defaults, prepayments, loss recoveries, and loan values for non-prime loans, and it measures the risk of default on newly originated non-prime mortgages.

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Report: Mortgage Fraud Jumps by 45 Percent

Reported incidents of mortgage fraud in the United States increased by an annual rate of 45 percent during the second quarter of 2008 – on fewer loan applications – according to a new report released today by the Mortgage Asset Research Institute (MARI).

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Realtors, DOJ Reach Antitrust Settlement

A federal court in Chicago recently approved a settlement agreement between the National Association of Realtors and the U.S. Department of Justice, ending antitrust charges against the association and its members filed by the federal government more than three years ago.

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Fallouts on the Rise

*With Contracts Collapsing at Record Rates, We Offer Some ‘Closed-Minded’ Tips for Transaction Success* In today’s market, it is difficult enough for many sellers to get a buyer under contract, but getting the transaction to close can be an even bigger challenge.

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