News

The Sacramento, California-based real estate tracking and research company ForeclosureS.com says its market data shows that many areas of the country are now experiencing rebounds, with declining foreclosures, increasing home sales, and even increased average sale prices.

National Home Auction Corporation (NHA), a now-defunct real estate company specializing in the marketing and auction-style sale of lender foreclosed properties, filed a lawsuit against Real Estate Disposition Corporation (REDC) in an Orange County Superior Court on Friday.

Government stimulus funding totaling $5 trillion has unintentionally introduced new opportunities for fraud and corruption worldwide, according to the latest edition of the Kroll Global Fraud Report. Kroll is a risk consulting firm, headquartered in New York City, with more than 65 offices throughout the United States and around the globe.

Rainbow City, Alabama’s RealtyBid.com and Clearwater, Florida’s ValCom, Inc., have teamed up to give away a house in a different state every month through a new promotional campaign called The House Game.

The number of foreclosures in Massachusetts declined by double-digit percentages in May compared to last year and the prior month, according to the latest report from the Boston-based real estate research company The Warren Group.

Former Fannie Mae CEO Herbert M. Allison, Jr. was confirmed by the United States Senate on Friday to serve as the Department of the Treasury’s assistant secretary for Financial Stability. In this position, he is responsible for developing and coordinating the Treasury’s policies on legislative and regulatory issues aimed at restoring the nation’s financial system.

Investors are zeroing in on the distressed housing market in Arizona. According to the research firm MDA DataQuick, nearly 4 out of every 10 homes sold in the Phoenix area in April were snatched up by absentee buyers, which typically constitute investors or vacation property purchases.

Newport, Kentucky-based Default Mitigation Management LLC (DMM) has released an update to its Debtor’s Counsel Loss Mitigation Web Portal. The company explained that the new release is another step forward in creating more effective channels of communication between attorneys, servicers, and now the trustees, and streamlining the loss mitigation process – in and out of bankruptcy.

The New York Federal Reserve Bank purchased $20.29 billion in mortgage-backed securities (MBS) from government agencies this week. The central bank has committed to buy up $1.25 trillion in mortgage securities this year.

LendingTree, an online lending exchange headquartered in Charlotte, North Carolina, introduced a new offering this week that the company says will help banks and mortgage companies retain borrowers who are seeking refinancing options with other lenders.