REO

RES.NET has released what the company describes as the ultimate companion to its popular real estate transaction software, Accelerated Management Platform (AMP). The new AMP app for iPhone and iPad is now available through the iPhone App Store and allows professional members of the AMP real estate agent portal to take the system with them wherever they go.

The National Association of Realtors (NAR) reported that home sales increased in 49 states during the fourth quarter of 2010, with 78 markets experiencing gains from the fourth quarter of 2009. The national average of home sales rose 15.4 percent to an annual rate of 4.80 million in Q4 from 4.16 million in the third quarter. Distressed homes accounted for 34 percent of sales last quarter. Even with foreclosures continuing to enter the inventory pipeline, NAR says they've been selling well and housing supplies have trended down.

BrokerPriceOpinion.com recently named Michael Richardson as president. Richardson will manage the day-to-day national operations of the company, which develops Web-based BPOs, appraisals, and automated valuation models to streamline the valuation process. Richardson brings more than 25 years of experience in the mortgage and real estate industries to BrokerPriceOpinion.com.

RealtyTrac has released its January foreclosure market report. The tracking company's analysis shows that foreclosure filings were reported on 261,333 U.S. properties in January. The tally represents a 1 percent increase from the previous month but a 17 percent decrease from January 2010. It marks the third consecutive month that filings have come in below 300,000, following 20 straight months where the total exceeded that threshold. REO activity was the only area where filings increased on a month-to-month basis.

Leslie Rennell, former president and CEO of Cleveland-based Resource Title Agency Inc. (Resource Title), has announced the formation and launch of Resource Title National Agency, Inc. (Resource National), which has purchased some of the business assets of Resource Title. Rennell will now serve in the role of owner and CEO of Resource National.

According to statistics released by the Greater Las Vegas Association of Realtors (GLVAR), 51 percent of all existing homes sold in southern Nevada are now purchased with cash. GLVAR president, Paul Bell, said this represents a first for the area housing market. Bell says his organization has been checking with counterparts around the country and has yet to find another major metropolitan area where so many buyers are paying cash for homes.

According to data released by Lender Processing Services (LPS) Tuesday, delinquency rates are down across all first-lien home loan products, with an 18 percent overall decline since the start of 2010. The company attributed the drop to more loans entering foreclosure, combined with a decline in new delinquencies. The nation's foreclosure inventory, on the other hand, swelled almost 10 percent over the course of 2010. LPS says 30 percent of the foreclosures started during the month of December are ""repeat foreclosures,"" meaning they have been in foreclosure previously.

LRES Corporation recently announced that it has welcomed Tammy Boren as the company's new senior director of operations. Boren will be responsible for the implementation of operational strategies and objectives across multiple departments. She was previously VP of client services at UTLS Default Services, Inc.

New Vista Asset Management has been approved by HUD to serve as a subcontractor to RiskSpan's oversight and review of the HUD Homes REO disposition program. RiskSpan selected New Vista to augment its team to support the HUD oversight contract activities, including review of the structure and content for key performance and process reports used to determine the effectiveness of HUD's third generation of Management and Marketing (M&M III) contractors.

With loan modifications on a steady decline, the analysts at Fitch Ratings say the common thread running through the industry has become when will the servicer foreclose as opposed to how can a distressed borrower stay in their home. Fitch's analysis of loan mod trends shows little improvement in success rates. While alternatives like short sales are modestly improving loss severities, the agency says servicers report borrowers are electing to remain in their property longer by staying on through the extended foreclosure process.