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Equator Announces 300,000 Short Sale Initiations

Equator said Thursday that 300,000 short sales have been initiated on its platform since the short sale automation solution was launched in November 2009. Just over a month ago, the company hit the 200,000 mark, illustrating just how quickly short sale transactions are gaining momentum. Since January, Equator says its technology platform has processed twice the amount of short sales as REOs. Its users completed an average of 196,822 short sale transactions per day during the first two months of the second quarter of 2010.

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Wolters Kluwer Addresses Intensified Scrutiny of Fair Lending Practices

Wolters Kluwer Financial Services announced this week that the company's Fair Lending Wiz software now includes an Ethnicity Proxy functionality to help improve the quality of Home Mortgage Disclosure Act (HMDA) loan data to detect potential problems that may contribute to discriminatory loans. The Department of Justice is currently investigating 18 lenders for potential fair lending violations as the housing crisis has made predatory lending an area of focus.

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RealtyBid, Marcus & Millichap Partner to Establish CRE Bidding Web Site

The online real estate bidding site RealtyBid.com has partnered with the special assets group of national commercial real estate broker, Marcus & Millichap, to develop CommercialBid.com--an online bidding site specifically for commercial real estate assets. The new Web site officially launched July 1, 2010 with the unveiling of a special bidding event offering commercial property and commercial loans valued at more than $60 million.

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Equator Rolls Out New PRO Short Sale and PRO HAFA Modules

Equator, the Los Angeles-based provider of software solutions for the default servicing industry, has introduced Professional (PRO) Short Sale and PRO HAFA modules to expand its PRO Workstation application. The newly launched modules provide a method for lenders, real estate agents, and borrowers to conduct real-time, transparent communication throughout the short sales process.

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ClearMarkets, Keller Williams Combine Forces in Online Auction Realm

As part of a new strategic alliance, ClearMarkets, LLC, announced Tuesday that it is partnering with the Keller Williams Global Property Solutions Group. Through this partnership, ClearMarkets will gain access to Keller Williams' network of certified residential and commercial agents and brokers. In return, these agents will be trained by Keller Williams on ClearMarkets' technology and expertise for transparent bid management, asset sales and marketing, as well as reporting.

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DST Releases REO Management Platform for Small- and Mid-Size Firms

Default Servicing Technologies, LLC (DST) recently introduced a new Web-based REO workflow platform for residential and small commercial properties. The new system is modeled after the company's flagship asset management software, DispoSolutions, but has been specifically designed to serve small to medium-sized banks, credit unions, outsourcers, and hedge funds.

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Short Sale Commander Reaches $600 Million Milestone

ELK Software announced last week that users of its Short Sale Commander platform have closed more than $600 million in short sales since the system was launched in early 2009. In addition, the company says more than 22,000 active residential short-sale listings valued at over $3.3 billion are currently employing Commander tools. The software features built-in comparable and automated valuation model (AVM) tools that enable agents to price distressed listings with a single-click.

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ZipRealty Helps Buyers and Sellers Navigate the Short Sale Market

ZipRealty, one of the largest real estate brokerages in the United States, offers its clients access to more than 290 short sale agents and recently launched a Ziprealty.com microsite dedicated to providing house hunters and home sellers with resources to navigate the complicated short sale process. The company says that while nearly 13 percent of home listings across the markets it serves are currently short sale properties, many clients are confused about how these sales differ from standard sales -- and ZipRealty is working to eliminate that confusion.

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LenderLive Introduces Program for Employee Mortgage Assistance

LenderLive Network Inc. is unveiling a new employee mortgage benefit program Tuesday that employers can offer as part of their benefits package to provide staff members with homeowner education and mortgage counseling services. LenderLive says the new solution, dubbed iBenefitsPlus, can help employers reduce turnover and build loyalty among their team, while empowering employees to make sound decisions when it comes to homeownership.

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CoreLogic Credco Adds New Tools to Suite of Fannie Mae LQI Solutions

CoreLogic Credco, recently introduced Instant Merge LQ and ENCORE LQ as part of its complete suite of compliant Fannie Mae Loan Quality Initiative (LQI) solutions. The company said it created these products to help lenders satisfy requirements under the new Fannie Mae LQI, which was designed to help lenders avoid loan buy-backs.

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