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Technology

Agency Launches Online HAFA Resource Center

The administration's Home Affordable Foreclosure Alternatives (HAFA) program was officially implemented on Monday, but many real estate professionals still have questions about the logistics of this new initiative. In an effort to answer these questions and provide Realtors with the latest HAFA information, Springboard Nonprofit Consumer Credit Management, a HUD-approved housing counseling agency headquartered in Riverside, California, has launched an online HAFA resource center.

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Retreat Capital Enhances its Predictive Modeling Services

Retreat Capital Management Group, a Lake Forest, California-based provider of loss mitigation and portfolio management products for the mortgage industry, announced Thursday that it has deployed AnswerMine Group's analytic software to power its predictive modeling services for mortgage lenders and servicers.

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FHA Now Accepts Electronic Signatures on Third Party Documents

In a move that will make the application process for Federal Housing Administration (FHA) mortgage insurance easier for borrowers and faster for lenders, FHA announced Thursday that it will begin accepting electronic signatures on third party documents originated and signed outside a lender's control.

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PCV Murcor Integrated with Veros for Fannie Mae Appraisals

PCV Murcor Real Estate Services announced this week that it is fully integrated with Veros Real Estate Solutions as part of the Fannie Mae Collateral Data Delivery (CDD) initiative, which will require all lenders to submit full appraisal reports to the GSE in an electronic data format.

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Prudential and RealtyTrac Expand Alliance

Prudential Real Estate and Relocation Services, Inc., the integrated real estate brokerage franchise and relocation services business of Newark, New Jersey-based Prudential Financial, Inc., and Irvine, California-based RealtyTrac, an online real estate marketplace, recently announced an expansion of their business relationship.

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Fannie Bars Foreclosure Actions in the Name of MERS

In new policy guidelines released this week, Fannie Mae told servicers that they can no longer name MERS as the plaintiff in any foreclosure action, whether judicial or non-judicial, on a mortgage loan owned or securitized by the GSE. MERS is widely used by the industry to keep track of the servicing rights on home loans, and is often listed as the ""mortgagee of record."" But the system has become the centerpiece of a number of lawsuits, with foreclosed homeowners challenging the naming of the electronic system as mortgagee.

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Execs Expect Commercial Property Values and Rents to Keep Falling

The real estate outlook for the remainder of 2010 is grim. According to a recent online survey of real estate executives conducted by Deloitte, 76 percent of executives expect commercial property values to continue to fall this year, and 73 percent predict asking rents will follow the same trend. When the market will recover still remains unknown, but it will undoubtedly take time. This was echoed by survey respondents, with 92 percent predicting that it will be at least two to four years - some say even longer - before we see a full market recovery.

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ISGN Implements New Interface for LenStar Default Network

ISGN Corporation has implemented a new user interface for its LenStar technology, a Web-based attorney and referral communication system for default management that the company says gives servicers access to lenders and attorneys servicing over 25 percent of the residential loans in the United States.

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