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LPS Launches New Home Price Index

Lender Processing Services, Inc. (LPS), a Jacksonville, Florida-based provider of technology and services to the mortgage industry, announced Tuesday the launch of its proprietary Home Price Index (HPI).

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REDC Sued for $132 Million

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.

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Investors Target Arizona Foreclosures

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.

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REOTrans Certifies Agents in REO

The volume of defaulted real estate coming onto the market nationwide has reached unprecedented proportions, with more than 40 percent of homes for sale representing lender real-estate-owned properties.

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Foreclosures Drop Six Percent

Foreclosure filings fell six percent during the month of May, according to the U.S. Foreclosure Market Report released by RealtyTrac on Thursday. Despite the monthly decline, the nation’s foreclosure numbers are nearly 18 percent higher than they were in May 2008.

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