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Secondary Market

GSEs Shift Focus for Repurchases: Fitch

Fitch Ratings released a note Thursday stating that Fannie Mae and Freddie Mac won├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ót be slowing down on repurchase requests and focus seems to be shifting from the largest institutions to midtier regional banks. If this does happen, the rating agency said those banks will start to feel the pressure for claims-related earnings. Fitch said recent announcements from PNC, Suntrust, and First Horizon expressed an intent to increase reserves against future repurchase claims, which suggests Fannie and Freddie may be eying regional institutions.

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Real Estate Roundtable Announces New Board Members

In Washington, D.C., the Real Estate Roundtable has announced its new roster of directors. The organization recently appointed members of the board for the 2013 fiscal year, and the Roundtable's incoming chairman and 21-person board began their terms on July 1.

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AGA Files Statement With the House Finance Subcommittee

The American Guild of Appraisers has officially filed a statement with Congressional legislators as part of a recent hearing titled, Appraisal Oversight: The Regulatory Impact on Consumers and Businesses. Conducted by the Insurance, Housing, and Community Opportunity Committee of the House Finance Sub-Committee, the AGA was asked to submit a statement of record to assist the lawmakers as they proposals directed at improving appraisal regulation, enforcement, and oversight. AGA said that it is also working with consumer organizations to ensure that consumers receive professional appraisals.

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California Legislature Passes Homeowner Bill of Rights

The California State Legislature has officially passed the Homeowner Bill of Rights. The proposal was originally put forth by the state's Attorney General Kamala Harris, and the legislation is now in the hands of Governor Jerry Brown, whose signature would finalize the law. According to a recent release from the California State Legislature, the law would "institute sensible reforms to bank's foreclosure practices and create a fairer foreclosure process for California's homeowners." The bill would also end current dual-tracking processes for foreclosures.

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WFG Title Expanding in Orange County, California

WFG Title Insurance Company is expanding its industry footprint. The organization, which is part of the Williston Financial Group family of companies, recently announced plans to open a retail title office in Irvine, California.

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Soccer Star Lists U.S. Estate, Considers U.K. Move

Superstar soccer player Landon Donovan has put his California estate on the market. According to Zillow's blog, Donovan has listed his home in Manhattan Beach, California, for $4.295 million. The property, which was once featured on MTV Cribs, boasts two separate compounds on site.

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Platinum Data Announces Additions to Board of Directors

Two new board members have been appointed at Platinum Data, and the valuation technology provider is preparing to welcome seasoned executives Hunter Atkins and John LaMacchia to the company's directorship. In an official statement, Platinum noted that the company hopes to capitalize on their leadership "during the next phase of its growth and expansion."

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CoreLogic Rolls Out New Data Initiative for RMBS Analysis

CoreLogic has launched a new provision for clients using the company's private-label residential mortgage-backed securities dataset. California-based CoreLogic recently announced the incorporation of anonymized servicer stop advance data, which will be available free of charge for the company's existing and new RMBS-data customers. The trustee-submitted data from CoreLogic will be at the loan-level, as opposed to aggregated. CoreLogic's stop advance data will include history dating back to January 2009.

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