Freedman Anselmo Lindberg LLC, a Chicago-based legal services provider to the mortgage banking industry, has recently announced the addition of Jennifer L. Hester as director of marketing and business development. Hester will oversee and direct all marketing activities for the firm with a focus on client retention and new business relationships. Hester's career in the mortgage banking industry began in 2008 as the client relations director for Reisenfeld & Associates, a default servicing law firm in Cincinnati, Ohio.

Foreclosure activity slipped 3 percent in November when compared to the previous month, but filings at various stages of the process showed starkly different movements, according to RealtyTrac's latest market report. Scheduled auctions hit a nine-month high following the default surge that began in August. At the same time, RealtyTrac says REO activity is at a 44-month low. Total filings are down by double-digits from a year ago, but RealtyTrac doesn't view the numbers as the making of a trend.

Freddie Mac has notified servicers that they are required to take part in mortgage assistance programs offered by state Housing Finance Agencies (HFAs) in connection with the federal government's Hardest Hit Fund initiative. The GSE says collaboration with state HFAs will provide additional support for servicers' efforts and ""our mutual commitment"" to help at-risk borrowers avoid foreclosure. HFA programs provide funds to servicers which may be applied to such criteria as loan-to-value ratios in order to help borrowers qualify for a modification.

Citing data from Lender Processing Services estimating more than 2 million properties in some state of foreclosure, Fitch Ratings says REO sales - both single-property and bulk sales - will be an integral component of the housing market over the next two years. However, the timing and method of disposition will have significant implications for home prices, according to Fitch. The agency notes that distressed properties generally sell at a substantial discount, further exacerbated by the presence of excess inventory.

At a Senate subcommittee hearing examining the progress of the foreclosure review process ordered earlier this year, lawmakers questioned officials from the Office of the Comptroller of the Currency and the Federal Reserve about the impartiality of the ""independent reviews."" Senators asked whether any of the consultants hired to conduct the reviews had worked with the servicers previously. The regulators admitted that some had. Members of the subcommittee say these past ties raise doubts about the true independence of the examiners.

NuView Financial Services provides services related to borrower outreach, loss mitigation, and short sale liquidation to mortgage servicers, insurers, and investors across the country. The company announced last week that it has retained Gilmore Consulting Group, LLC to manage partnership initiatives that include community and government relations. The collaboration aims to expand the role of counseling agencies, real estate professionals, and other critical stakeholders devoted to preserving communities.

Samuel C. Waters, shareholder and board chairman of Rogers Townsend & Thomas, PC, has been reappointed chair of the South Carolina Legislative Committee of the Mortgage Bankers Association of the Carolinas (MBAC) for 2012. This will be his fourth term in that role. Waters was also recently appointed to the interim Advisory Board of the Legal League 100, a national marketing consortium of default servicing law firms and a professional league of the Five Star Institute.

Those keeping tabs on the Federal Reserve's movements were looking for a change in the central bank's communication strategy when officials emerged from their final policy meeting of the year on Tuesday. Some analysts were even anticipating the Fed to launch a third round of 'Quantitative Easing' measures. All expectations went unfulfilled. With Wall Street disappointed in the lack of action, mortgage rates dipped to new lows following the Fed's (non) announcement.

Brillion Asset Solutions, Inc., an asset management firm headquartered in Newport Beach, California, announced Tuesday that it has acquired Infinity National Asset Management, a San Diego-based REO asset management company. Terms of the transaction were not disclosed. According to a statement from Brillion, the acquisition increases its portfolio of clients and its real estate practitioner network to support a more efficient and timely disposition of non-performing assets.

While home values are continuing to decline, they are beginning to stabilize as the market nears the bottom, according to the Zillow Real Estate Market Report released Tuesday. On a yearly basis, the average home price fell 5.1 percent in October, arriving at $147,000. However, on a monthly basis, the drop was just 0.3 percent, demonstrating a deceleration from recent declines. In addition to stabilizing prices, Zillow reported another positive sign for the market, with the foreclosure liquidation rate slipping to 8.1 out of every 10,000 homes.