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Secondary Market

Private Equity Group Completes Acquisition of MortgageDashboard

Catalizador Private Equity Fund, a team of Texas-based venture capitalists, announced this week the completed acquisition of MortgageDashboard. MortgageDashboard provides loan origination systems that enable paperless mortgage processing. Catalizador took control of MortgageDashboard last fall when the technology firm lost an important line of credit and was on the brink of insolvency.

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Federal Realty Promotes Dawn Becker to COO, EVP

Federal Realty Investment Trust, an equity real estate investment trust headquartered in Rockville, Maryland, recently promoted Dawn Becker to COO and EVP of the company. Becker, who has been with Federal Realty for 13 years, was hired in 1997 to provide deal structuring and legal guidance to support the company's acquisition efforts.

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Ginnie Mae Guarantees More than $38 Billion MBS in January

In an announcement Wednesday, the Government National Mortgage Association (Ginnie Mae) said it guaranteed more than $38.1 billion in mortgage-backed securities in January. The corporation also said the single-family loans in Ginnie Mae-guaranteed securities that were 90-days or more delinquent fell to 2.

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GSEs’ Delinquency Buybacks Create Capital Need

The nation's two largest mortgage financiers have been stuck in the red for some time, and they regularly require cash draws from the Treasury to stay afloat. The GSEs' recent announcements to buy back some $200 billion in seriously delinquent loans from mortgage-backed securities holders over the next few months mean they'll have to come up with some extra cash fast. Analysts at Barclays Capital estimate that Freddie Mac will need to sell off $10 billion to $20 billion of its debt to fund the purchases, while Fannie Mae will need to raise about $60 billion.

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Suitors Line Up after General Growth Properties Rejects $10B Offer

The bankrupt commercial property developer and shopping mall manager General Growth Properties (GGP) has become a hot commodity, with firms lining up to get a piece of the Chicago-based company. On Tuesday, the nation's largest mall-operator, Simon Property Group, Inc. made public a $10 billion unsolicited bid to acquire the rival GGP - a deal that would have pulled the company out of bankruptcy. GGP quickly rejected the offer, and since, speculation has run rampant about other investment firms that may soon come knocking.

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FHFA Proposes New Housing Goals for Fannie Mae and Freddie Mac

The Federal Housing Finance Agency (FHFA) has sent a proposed rule to the Federal Register establishing new housing goals for Fannie Mae and Freddie Mac. The Housing and Economic Recovery Act of 2008 (HERA) gave FHFA authority to establish annual performance goals for the two mortgage giants. These goals set the minimum percentage of mortgage acquisitions by the GSEs for certain borrower income groups.

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Fed Wants Banks’ Loan-Level Data to Prevent Meltdown Repeat

Federal Reserve Board Governor Daniel Tarullo is urging lawmakers to craft reform legislation that would give regulators the authority to collect a broader range of data from lenders, including details of their loans and securities. It's insight the governor says is needed to accurately assess large financial firms' risk and ward off another crisis where the collapse of any one institution sends the system into a tailspin - as was the case when Lehman Brothers went under in 2008.

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Policy Action Needed to Support Recovery of Commercial Real Estate Market

As DSNews.com reported Friday, the congressional panel charged with overseeing the Troubled Asset Relief Program recently released an analysis of the commercial real estate market. According to the Real Estate Roundtable, a Washington, D.C.-based group bringing together leaders in the real estate industry, the report underscores the need for additional federal policy action to support economic recovery and stabilize commercial real estate markets.

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Jones Lang LaSalle Ranked as a Leading Real Estate Outsourcing Company

Jones Lang LaSalle announced Monday that it has been selected in the leaders category for the 2010 Global Outsourcing 100, an annual ranking of high-quality service providers across all industries as determined by the International Association of Outsourcing Professionals (IAOP). This marks the third time that Jones Lang LaSalle has been selected for the Global Outsourcing 100 list.

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Mutual of Omaha Bank Approved for Fannie Mae’s AD&C Program

Mutual of Omaha Bank, based in Omaha, Nebraska, was recently approved as a lead bank partner for Fannie Mae's acquisition, development, and construction (AD&C) financing program, a secondary market program in which Fannie Mae buys participation interests in construction loans originated by its lending partners.

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