Secondary Market

First American Default Technologies, a member of The First American Corporation family of companies and a provider of host-system integration technology to the mortgage default servicing industry, launched a new loss mitigation module as part of its VendorScape suite of solutions today.

In light of the recent wildfires that swept through Southern California, the U.S Department of Housing and Urban Development has issued a 90-day foreclosure moratorium on all Southern California homes that are based on FHA-insured mortgages.

Tampa, Florida-based ProVest, a provider of foreclosure services, has named Jim Ward president. Ward, who previously held the position of vice president of operations, will be responsible for business development, as well as information technology and operations.

HSBC Finance, the U.S.-based arm of London-based HSBC Holdings Plc, says HSBC Finance reported net losses for the first three months of 2007 as well as an upswing in delinquencies within its mortgage services unit.

Santa Ana, California-based Data Tree, LLC, a provider of recorded land documents and a part of The First American Corp., announced the release of DocEdge.com™ this week. The company describes DocEdge.

Suzanne Whang, HGTV television host of House Hunters and home-buying author, has parterned with the Mortgage Bankers Association to promote the trade group’s Home Loan Learning Center next month during National Homeownership Month.