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Fannie Mae Requests $8.4B in Federal Aid after Q1 Loss

Mortgage giant Fannie Mae has reported a net loss of $11.5 billion for the first quarter of 2010. The deficit has prompted the GSE to ask the Treasury for another $8.4 billion in federal funding. Fannie Mae's single-family serious delinquency rate increased to 5.47 percent as of March 31, 2010, up from 5.38 percent as of the end of last year. However, on a month-to-month basis, March's delinquencies were down from 5.59 percent in February. The GSE acquired 61,929 single-family properties through foreclosure during the first three months of this year.

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Lenders One Selects ComplianceEase as Preferred Vendor

Lenders One Mortgage Cooperative has selected risk management and compliance firm ComplianceEase as its newest preferred vendor. With state restrictions getting tighter and enforcement increasing, smaller mortgage bankers need to draw upon the right resources to remain proactive when it comes to regulatory compliance. Lenders One says it can provide these resources through its partnership with ComplianceEase.

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Commercial Real Estate Loan Prices Dip Slightly in March: 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 March 31, 2010, inching down from 76.5 percent as of February 26, 2010 and 81.2 percent as of March 31, 2009.

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Stewart Launches AgencySecure Program for Network of Title Agencies

Stewart Title Company and Stewart Title Guaranty Company announced the launch of a new program Monday to help title agencies reduce title claims, escrow theft, and mortgage fraud. Provided by PropertyInfo Corporation, a Stewart company that develops, supports, and distributes technology for the real estate industry, AgencySecure provides access to Stewart agency technology and services.

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‘This Far and No Further’

The Military Warriors Support Foundation teamed up with servicers to provide wounded veterans with mortgage-free homes as they transition back into civilian life. They say good things come in threes. But for Phillip Hall, an Iraqi veteran from Louisiana, he never imagined that he could ever be so lucky.

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RMBS Performance is Beginning to Turn the Corner: Fitch

Delinquency rates for some residential mortgage-backed securities (RMBS) are beginning to improve. According to the latest performance metrics results from New York-based Fitch Ratings, April marked the first month in four years that serious delinquencies for U.S. Alt-A RMBS have declined. In addition, subprime late-pays fell for the second straight month, while prime RMBS delinquencies increased just slightly.

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Experian Offers Default-Predicting Technology for Non-Agency MBS

Experian announced Monday the launch of CreditHorizons for Securities, a data-feed product that the company says provides the missing link to understanding the true creditworthiness of the underlying borrowers in secondary market mortgage deals. CreditHorizons for Securities consists of anonymized U.S. consumer credit profiles that have been matched to the private-label mortgage-backed securities (MBS) deals in a loan-level database provided by First American CoreLogic.

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Home Values Continue to Decline in the First Quarter of 2010: Zillow

Home values in 106 of the 135 markets tracked by Zillow continued to decline on a year-over-year basis in the first quarter of this year, causing the Zillow Home Value Index to fall 3.8 percent from the same quarter last year and 1 percent from the fourth quarter of 2009 to $183,700. As a result, negative equity across the country remained high, with 23.3 percent of single-family homes underwater, the company said. Zillow also reported that foreclosures reached a new peak in March.

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Commercial Real Estate Market Recovery to be Slow and Uneven: Survey

The decline in the commercial real estate market is finally beginning to level off, but tremendous uncertainty remains about the pace and strength of this recovery, according to the Real Estate Roundtable's latest quarterly Sentiment Survey. Of the 100-plus senior real estate executives who participated in the second quarter survey, 82 percent characterized market conditions today as better than a year ago, up from 73 percent in the first quarter. But, while sentiment is up, that's not to say things are ""good,"" Jeffrey DeBoer, president and CEO of the Roundtable, said.

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Faith Schwartz to Step Down as Executive Director of HOPE NOW

Faith Schwartz will be stepping down from her post as executive director of the HOPE NOW Alliance, effective June 1, 2010. Schwartz has led the industry coalition of mortgage servicers, investors, housing counselors, and other market participants since it was formed by Congress in October 2007. According to Schwartz, she will stay on in an advisory capacity in the coming months. Larry Gilmore, the current deputy director of the HOPE NOW Alliance, will assume the role of acting executive director.

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