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Tag Archives: Atlas REO Services

Cost of Renting, Owning Unaffordable for Many Workers Across the U.S.

With the home price recovery moving along faster than income growth, many workers across the country are finding hard work is not enough to pay the bills, according to the 2013 Paycheck to Paycheck report from the Center for Housing Policy (CHP). After exploring housing affordability for mid-career professionals in travel and tourism, the report found only flight attendants could afford rent for a two-bedroom unit at fair market value in the 207 metros examined. On the other hand, housekeepers and wait staff could not afford a two-bedroom unit in any of the 207 metros.

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Martin, Leigh, Laws & Fritzlen Announces Departure and Promotion

Martin, Leigh, Laws Fritzlen, P.C. promoted Lindsey McArthur to director of client relations and business development following the departure of Jane Woll. Woll, who spent six and a half years at the firm, will begin a new career at Stewart Lender Services (SLS) as SVP and strategic relationship manager on May 1. McArthur has been a part of Martin, Leigh, Laws & Fritzlen since 2009. Prior to her promotion, she served with the firm as the director of St. Louis operations in the Chesterfield, Missouri office.

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BofA Reports $2.5B Net Income in Q2 and Increased Mortgage Loans

After recording a loss in the first quarter of the year, Bank of America announced a net income of $2.5 billion, $0.19 per diluted share in the second quarter of this year, according to a press release Wednesday. The $8.8 billion in net loss in the first quarter was partially due to $18.2 billion charges ""for certain mortgage-related items and other select adjustments, including provisions for representations and warranties and goodwill impairment,"" according to the press release. This trend reversed during the second quarter. While mortgage-related business may have contributed to losses during the first quarter, they contributed to gains in the second quarter.

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Former Assistant HUD Secretary Joins Ticor Title as COO

Ticor Title Global Solution Services announced the hiring of former HUD Assistant Secretary Steven Nesmith as Chief Operating Officer. In his new role, Nesmith will manage the Washington, D.C office operations and build executive-level relationships with U.S. and international banks, the GSEs, federal agencies, and regulators to further business and political opportunities for the company.

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Existing-Home Sales Jump Nearly 19% From Last Year

Last month's 18.6 percent surge in existing-home sales from a year earlier had some market observers doing a double-take, but Galen Ward, who runs a real estate brokerage web site, says it wasn't unexpected. Michael Simonsen of Altos Research says anything is going to look good coming off the market's tax-credit hangover this time last year. But the fact that the median home price was down more than 5 percent from August 2010 at the same time sales jumped so sharply is one of the most telling stats for Clear Capital's Alex Villacorta.

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REO Allegiance Selected for Altas REO Inspection Program

REO Allegiance, a national property preservation firm headquartered in Bayonne, New Jersey, announced this week that it has been chosen as a premier inspection service provider for Atlas REO Services which is based in California and provides customized REO management and disposition services for lenders and servicers. The new program goes well beyond the services traditionally offered by asset management firms, according to the two companies, and saves clients time and money by putting properties back on the market faster.

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Green River Capital, Atlas REO to Support Sales of Freddie Mac’s REOs

Freddie Mac said Wednesday that it has selected Green River Capital and Atlas REO Services to provide sales and disposition support to HomeSteps. HomeSteps is the GSE's real estate sales unit. It markets Freddie Mac-owned REO homes nationwide through local real estate brokers. Freddie Mac says it has contracted the two firms to expand its capacity to handle expected increases in REO inflow volumes.

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Jones Lang LaSalle Hires New SVP in D.C. Office

Jones Lang LaSalle recently hired Jon Goldstein as SVP of the firm's real estate investment banking practice in Washington, D.C. The company says a marked increase in the level of liquidity and record low interest rates has resulted in a surge of financing activity in the D.C. market. Goldstein brings more than 17 years' experience in the financial services industry to the firm, and will be responsible for debt and equity placement for all commercial property types.

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Mortgage Rates…The Descent Continues

Mortgage interest rates are already at their lowest level in decades, and this week, they headed even lower. The descent was prompted largely by fears that another housing downturn could hamper the economic recovery, after July's home sales took a deeper plunge than expected. Freddie Mac reports that 30-year fixed-rate mortgages are now averaging 4.36 percent, and 15-year mortgages are at 3.86 percent. Bankrate says the larger jumbo 30-year fixed rate also slipped to a new record low of 5.22 percent.

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DartAppraisal.com Launches Custom Appraisal Warranty Protection

Offering supplementary insurance for financial risk mitigation, DartAppraisal.com's newly introduced DartAssurance custom appraisal warranty provides mortgage lenders, investors, banks, and credit unions with an extra layer of protection against potential loss from default and foreclosure.

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