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Too late to close by Nov. 30?

By Inman News, Wednesday, September 30, 2009.

With the Nov. 30 deadline for closing a home purchase in time to claim the first-time homebuyer tax credit fast approaching, the $8,000 question has become: what's the last possible date to find a home, make an offer, and begin the closing process?  more...

Lenders more generous with loan mods Premium Content

By Inman News, Wednesday, September 30, 2009.

More than three out of four loan modifications made by lenders during the second quarter reduced borrowers' montlhy payments, up from 54 percent in the first three months of the year, according to a report released today by federal bank regulators.

That's welcome news, because loan modifications that reduce borrowers' monthly payments are less likely to redefault, the report from the Office of the Comptroller of the Currency and the Office of Thrift Supervision said.  more...

Nations REO using TrackPoint

By Inman News, Wednesday, September 30, 2009.

DepotPoint Inc. has customized its TrackPoint foreclosure management software to handle Nations REO Inc.'s workflow and property management operations, the companies said.

Nations REO, a division of FMC (Foreclosure Management Company), manages thousands of bank-owned properties, or REOs. The company’s customers include large mortgage lenders and banks, loan servicers and private equity firms.  more...

Freddie doing loan mods door-to-door

By Inman News, Wednesday, September 30, 2009.

The Hope Now alliance of mortgage servicers and investors is holding workshops around the country to allow distressed homeowners face-to-face with their mortgage lenders and HUD-approved housing counselors.  more...