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SigniaDocs Hires Chief Strategy Officer

SigniaDocs, a Houston-based provider of eMortgage services, has named Harry Gardner to the post of chief strategy officer. Gardner is the former VP of industry technology at the Mortgage Bankers Association (MBA) and former president of MISMO (Mortgage Industry Standards Maintenance Organization).

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Long-Term Rates Continue to Drop

Mortgage interest rates slipped lower again this week, according to the Primary Mortgage Market Survey (PMMS) released Thursday by Freddie Mac. Frank Nothaft, the GSE’s VP and chief economist, said that along with the recent moderation in home price declines, lower rates are providing a big boost to the nation’s ailing housing market.

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Builders Raise Own Appraisal Concerns

Appraisal practices have taken center stage lately with the roll out of the new Home Valuation Code of Conduct (HVCC) by the GSEs. And now, the National Association of Home Builders (NAHB) has raised its own concerns over valuations of foreclosures, REOs, and short sales.

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S&P Report: Home Price Declines Ease

According to Standard & Poor’s, a recent improvement in the rate of home price declines is a signal that the housing slump is nearing a bottom. The company’s home price index has been falling for the last three years.

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Chase Releases Mortgage Mod Numbers

Chase Bank announced this week that it has approved 138,000 trial mortgage modifications for struggling homeowners since it began processing loan workouts through President Obama’s Making Home Affordable program on April 6.

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Mortgage Apps Down Despite Rate Drop

Applications for home purchases and mortgage refinances both declined last week, despite a 10 basis point decline in interest rates, according to the Weekly Applications Survey issued by the Mortgage Bankers Association (MBA) on Wednesday.

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Connecticut’s Distressed Home Sales Rise

The number of bank-owned property sales in Connecticut has jumped significantly, according to The Warren Group, which provides real estate data for the entire New England region. The research firm said REOs represent nearly 6 percent of the state’s single-family home sales so far in 2009, compared to just 1 percent last year.

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