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Existing-Home Sales, Prices Rise in October

Weathering Hurricane Sandy, sales of existing homes increased in October, the National Association of Realtors reported Monday. Total existing-home sales rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September. September sales were originally reported at 4.75 million. October home sales are up 10.9 percent over October 2011. The median price of an existing single-family home was $178,600 in October, 11.1 percent ahead of the median price in October 2011, $160,300.

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Norcom Announces New Chief Compliance Attorney

As issues related to compliance regulations continue to escalate, Connecticut-based Norcom Mortgage is preparing to meet the challenges ahead by hiring accordingly. The company recently announced the addition of Jeremy Potter, who will join Norcom as chief compliance attorney.

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NewDay USA Announces Relocation into Expanded Offices

NewDay USA, LLC, announced it is packing up and moving its Maryland office into a new 60,000 square foot facility to better support the launch of NewDay USA University, an educational and training center created for new and established mortgage banking professionals.

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Capsilon Announces Revenue Growth, Record Sales Numbers

Capsilon's revenue in this year's third quarter was double that of the same period last year, the company announced. The San Francisco-headquartered provider of cloud-based document sharing, imaging, and collaboration solutions for mortgage lenders reported its revenue for the first nine months of 2012 is also double that of the first three quarters of 2011.

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FNC: Prices Stay Flat in September but Improve Quarterly

Despite a relatively flat September, FNC's latest Residential Price Index (RPI) showed home prices were up in the third quarter. Based on recorded sales of non-distressed properties (both new and existing homes) in the 100 largest metropolitan statistical areas (MSAs), September home prices were mostly unchanged from August. However, prices were up 2.3 percent from September 2011, the largest yearly increased since February 2007. September also marked the third straight month of year-over-year price improvement.

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Prospect Mortgage Offers Loan Programs for Sandy Victims

Prospect Mortgage, a provider of home renovation and purchase financing, announced it is offering two loan programs to help homeowners impacted by Hurricane Sandy rebuild their lives. The programs, backed by the Federal Housing Administration (FHA), provide funding beyond insurance or other disaster assistance by offering financing for owners in declared disaster areas to repair or rebuild their homes or even to purchase a new home if necessary.

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