The Dallas-Fort Worth area is set to lose a few hundred jobs in the financial services industry, according to new filings with the Texas Workforce Commission. The human resources department at Citigroup, Inc.

Fayetteville, North Carolina-based law firm Hutchens, Senter & Britton, P.A., has promoted Foreclosure Supervisor Debra Milligan to the position of Foreclosure Department Manager. Milligan has been with Hutchens, Senter & Britton for the past 12 years and has nearly three decades of experience in the area of foreclosure.

The U.S. Department of Housing and Urban Development (HUD) is offering an additional 30 days for the public and mortgage industry to comment on a Bush administration proposal to reform the current Real Estate Settlement Procedures Act (RESPA).

Global Investment Banking and Asset Management platform UBS reported a net loss attributable to shareholders of 11,535 million CHF (Suisse Francs) for the first quarter of 2008 and said it expects approximately 5,500 staff reductions%{=FONT-SIZE: 11pt; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: ‘Times New Roman’; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA}—many of which will occur as part of the natural attrition process{=FONT-SIZE: 11pt; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: ‘Times New Roman’; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA}—%to take place by the end of this year due to global complications in the financial services sector.

Despite what seemed to be a healthy and solid real estate market, Connecticut is now feeling the pinch of the housing slowdown after experiencing a 27.9-percent drop in single-family home sales between March of 2007 and March of this year, according to a new report from real estate and financial publisher The Warren Group.

Federal Reserve Chairman Ben Bernanke told a crowd in New York during the Columbia Business School’s 32nd Annual Dinner this week that borrowers and lenders both benefit when homes are saved from foreclosure.

Lansdale, Pennsylvania-based Keystone Asset Management, Inc., a company that provides the default servicing industry with an array of services, recently held a successful training program for agents and brokers.

Government-sponsored enterprise (GSE) Fannie Mae reported Tuesday that the company experienced a net loss of $2.2 billion during the first quarter of this year, compared to a net loss of $3.6 billion during the final quarter of 2007.

The U.S. House of Representatives will continue its quest for new solutions to curtail the nation’s housing crisis this week when it takes up H.R. 5818—a controversial house bill that, if passed, would create a HUD-run grant and loan program that would help communities refurbish and sell vacant foreclosure properties.

Billionaire and Chairman of Berkshire Hathaway Warren Buffett said over the weekend that his company has acquired a portfolio of subprime mortgages and has frozen the rates on those loans, according to a MarketWatch report.