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Website Wants to Help Spur REO-to-Rental Movement

Still in developing stages, HelpMeRent.com is an online rental directory that specializes in connecting renters to rental property listings nationwide. The website is advocating for the conversion of foreclosed homes as rental properties and is helping to do so through its online services.

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TransUnion Finds Auto Loan and Credit Cards Paid Before Mortgage

In 2011, consumers with at least one open bankcard, auto loan, and mortgage are more likely to try and stay current on their car payment then keep up with their monthly house payment or credit card bills, according to a TransUnion study. Consumers have also been more likely to pay for their credit cards before their mortgages for four consecutive years, according to the study. The TransUnion analysis looked at a sample of approximately 4 million consumers in each quarter of 2011 and found that 39.1 percent were delinquent on a mortgage while current on their auto loans and credit cards.

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CoreLogic: Number of Completed Foreclosures Down for February

The number of completed foreclosures in February 2012 was down on a monthly basis and slightly on a year-over-year comparison, but overall, foreclosure inventory has decreased compared to a year ago, according to CoreLogic's National Foreclosure report for February. In February 2012, 65,000 completed foreclosures were reported, compared to 66,000 in February 2011, and 71,000 in January 2012. The number of completed foreclosures over 12 months ending in February was 862,000. From the start of the financial crisis in September 2008, CoreLogic estimates 3.4 million completed foreclosures.

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Freddie Mac Reports 30-Year Fixed-Rate Teetered Back Below 4%

The 30-year fixed-rate mortgage positioned itself back below 4 percent this week as economic indicators point to a weaker housing market and economy, according to Freddic Mac’s Primary Mortgage Market Survey. Last week, the 30-year fixed-rate averaged 4.08 percent, above 4 percent for the first time since October 2011. This week ending March 29, the 30-year averaged 3.99 percent (0.7 point), barely below the 4 percent mark. The 30-year is still below last year's average at this time, when it was 4.86 percent.

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GDP Growth At 3 Percent for Q4; Residential Investment Grows

Real gross domestic product - the output of goods and services produced by labor and property located in the United States - increased at an annual rate of 3.0 percent in the fourth quarter of 2011, the Bureau of Economic Analysis reported Wednesday, unchanged from the estimate issued a month ago, consistent with market expectations.

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Initial Unemployment Claims Drop To New Four Year Low

First time claims for unemployment insurance fell 5,000 to 359,000 for the week ended March 24, the Labor Department reported Thursday. However, the previous week's report and all data reports back to 2007 - were revised to show a jump for the week ended March 17 to 364,000 instead of the originally reported 348,000.

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S&P Defends Lag Time of Case-Shiller Numbers for the Sake of Accuracy

Tuesday's S&P/Case-Shiller release on home prices was labeled ""disappointing"" by a number of analysts and market participants as both the 10- and 20-city composites and eight cities set new cycle lows. With the Case-Shiller numbers failing to fit the mold of improving market conditions, several commentary notes from analysts dismissed the latest results as ""old news,"" with a two-month lag time and home price assessments based on three-month averages. S&P's index committee chairman took to the web to defend the Case-Shiller report against naysayers.

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SECU Explains Low Rate of Force-Placed Insurance

As the Consumer Financial Protection Bureau plans to issue new rules on force-placed insurance in the coming year, State Employees’ Credit Union (SECU) announced that less than 1 percent of its mortgages have needed force-placed insurance. About 0.6 percent of mortgages require force-placed insurance for more than 60 days at the credit union, according to a release.

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States and Metros Known for Fraud Are Repeat Offenders: Report

States and metro areas known for being risky when it comes to mortgage fraud seem to be repeat offenders, according to the 2011 Annual Mortgage Fraud Risk report released by Interthinx. The top six states with the highest levels of mortgage fraud risk in 2010 maintained their spots as the riskiest states into 2011, a trend also seen when looking at data for fraud in Metropolitan Statistical Areas (MSAs). Nevada, Arizona, Florida, California, Colorado, and Michigan were the six riskiest states for 2011 and 2010.

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