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REO

Despite Fewer Foreclosure Starts, Distressed Sales Rose in 2013

distressed sales, short sales, REO sales

Despite declining foreclosure starts over the year, distressed sales made up a higher percentage of overall home sales in 2013 than they did the previous year, according to the U.S. Residential & Foreclosure Sales Report released Thursday by RealtyTrac. Foreclosure sales—which include sales to third-party buyers at foreclosure auction and sales of REOs—combined with short sales to make up 16.2 percent of residential property sales in 2013, up from 14.5 percent in 2012. The report also revealed an uptick in cash purchases at the close of the year.

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RE/MAX Leadership Honored as Real Estate’s ‘Most Influential’

Movers & Shakers, people

The co-founder/chairman and the CEO of RE/MAX were named among the most influential real estate industry executives of 2013 on two prestigious lists released last week. Dave Liniger, who founded the Denver-based real estate franchise in 1973, and Margaret Kelly, who became the company's president and CEO in 2005, were named to the Inman 100 Most Influential Real Estate Leaders and the Swanepoel Power 200.

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CFPB Averts Costly Closing Delays with Revisions to Final Disclosure Rule

CFPB, disclosures, RESPA, TILA

After much anticipation, the Consumer Financial Protection Bureau (CFPB) issued its final rule for new integrated mortgage disclosures, combining the overlapping disclosures required by the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). The new rule will certainly change the landscape of the settlement services and mortgage lending industries as we know them.

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Housing and Mortgage Outlook: Expect Declines in 2014

Outlook, Fitch Ratings

Following a year of fast-paced appreciation, Fitch Ratings expects home price gains to slow to a more moderate pace in 2014 in the United States, according to its Global Housing and Mortgage Outlook released Tuesday. The ratings agency also predicts mortgage volume will decline and delinquencies and shadow inventory will decrease, albeit slowly, while liquidation timelines continue to rise.

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Two Full-Service Rocky Mountain Brokerages Join Berkshire Hathaway Network

In Colorado, Prudential Preferred Real Estate of Greater Denver and Prudential Rocky Mountain Realtors of Boulder have joined Berkshire Hathaway HomeServices, the new real estate brokerage network operated by HSF Affiliates LLC. Based in Irvine, California, this new network is designed for a new era in residential real estate. It currently currently comprises more than 22,000 agents and more than 600 offices in 26 states.

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DocMagic Addresses Compliance Woes Related to ECOA Valuation Rule

DocMagic, Inc., says it has a variety of solutions available that support lenders' compliance with the ECOA Valuation Rule, no matter what the lender's business rules are. Under the ECOA Valuation Rule, a creditor must provide an applicant with a copy of the appraisal and other written valuations upon completion, or three business days prior to consummation of the transaction, whichever is earlier.

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California Home Sales Abate to Close Out Year

sales

Single-family and condominium sales in California closed 2013 on a cautiously positive note, even though overall sales were down notably from the year prior, according to the latest quarterly market report from PropertyRadar. December sales in the Golden State's home and condo market grew 1.4 percent over November 2013 sales, but were down nearly 20 percent from December 2012. Overall, last year’s property sales finished the year at their lowest level since 2007.

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Expediting the Empties

Housing and Mortgage News

  Select Print Feature, originally appeared in the May, 2013 issue of DS News Magazine. Can servicers and their partners in the field work through the many obstacles that come with fast-tracking vacant foreclosures? Several jurisdictions are considering legislation or ...

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Comparing Valuation Measures

Compliance Valuation Measures

Special Print Feature, originally appeared in the August 2013 issue of DS News Magazine. By Steve Albert, Ernie Durbin, and Tami Rund Without question, accurate valuation data is critical to your business, but how do you determine which method to use for ...

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DataQuick Enhances Valuation Model to Boost Accuracy

DataQuick announced the addition of major enhancements to its automated property valuation model (AVM), CMV-Portfolio. The upgrade builds on CMV-Portfolio's submodel system, which features different models using their own methodologies and data sources to estimate property values.

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