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Freddie Mac Makes Counseling Hotline A Permanent Effort

Freddie Mac recently announced that they have turned a year-old pilot program into a permanent effort. Accompanied by the Consumer Credit Counseling Services (CCCS) of San Francisco and Atlanta, Freddie will use their counseling hotline on a permanent basis to reach borrowers on the verge of losing their homes.

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LandAmerica Announces New Senior Vice President

LandAmerica Financial Group, Inc., announced Tuesday that Andrew S. Brownstein has been named senior vice president and international operations manager. In his new role, Brownstein will be responsible for LandAmerica’s operations outside the United States from his home office in Glen Allen, Virginia.

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Merrill Buys First Franklin For $1.3 Billion

Cleveland-based City Corporation:http://www.nationalcity.com has completed the sale of its First Franklin origination franchise and related servicing platforms to Merrill Lynch & Co., said an announcement made by the company today.

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Boston Mayor to File Legislation in Response to Rising Home Foreclosures

Boston Mayor Thomas M. Menino plans to file state legislation this month concerning rising home foreclosures in the City of Boston. The Homeownership Protection Act of 2007 will propose legislation that will assist homeowners get out of foreclosure trouble, require lenders to disclose accurate and thorough loan terms and costs, and inflict licensing and regulation to eliminate sales deception.

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FHFA Announces HARP Education Effort

The Federal Housing Finance Agency (FHFA) announced a new program Monday that will seek to educate homeowners on potential refinancing options under the Home Affordable Refinance Program (HARP). The program aims to inform underwater homeowners of expanded HARP eligibility requirements and encourage homeowners to discuss refinancing options with their lenders.

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FNC Report Points to Improving Foreclosure Market

A report released this week by mortgage technology company FNC indicates that the foreclosure market has improved dramatically in recent months, with foreclosure rates nearing pre-crisis levels. According to FNC's Director of Research Yanling Mayer, the Foreclosure Market Report reflects rising home equity for homeowners who are trading up to more expensive houses.

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Barclays Issues Housing Forecast

Barclays forecasts U.S. housing prices to rise by 11.0 percent in 2013 and 7.0 percent in 2014, based on data through the second quarter. According to Barclays' Q3 Regional Housing Update, the company also expects the nationwide distressed property segment to fall from its current 3.8 percent of the market to 2.2 percent by 2017, with the most dramatic distress decline taking place in Florida.

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