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December Mortgage Originations Down 10.1% from September: LPS

Mortgage originations fell from a peak in September last year to hit 10.1 percent in December, according to Lender Processing Services. Revealing the latest data in December Mortgage Monitor report, the company also said that loans originated over the last two years consistently showed high quality, which it attributes to tighter lending and underwriting guidelines. LPS Applied Analytics said that risk attributes stayed near minimal levels, with credit quality for borrowers averaging 750 in 2011.

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Home Prices Should Slide by 3.6% in 2012: Fiserv

The latest analysis from a Fiserv Case-Shiller index said Monday that home prices could slide back by 3.6 percent this year, and may not completely pick up until the first half of 2013. Fiserv, Inc. found a double-dip that began last summer stretching into last fall as home prices declined in 340 of 384 metropolitan areas surveyed by the technology provider. It said some 302 areas slammed into new lows, and projected that home prices will fall in southerly direction this year before climbing by 2.4 percent over the second quarter next year.

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MountainView Announces New Sale of Servicing Rights

In Colorado, MountainView Servicing Group has announced the upcoming sale of an estimated $129 million in Ginnie Mae mortgage servicing rights. The servicing portfolio will go on the block on Tuesday, January 31, at noon (EST). MountainView's servicing portfolio auction encompasses 566 loans, and most of the loans - around 99 percent - are Federal Housing Administration fixed-rate mortgages.

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Four New Bank Failures Raise National Tally to Seven

Federal and state regulators shuttered four banks Friday, including one in Florida, another in Minnesota, and two in Tennessee. State regulators appointed the FDIC receiver in all cases, resulting in more than $600 million in accumulated costs for the Deposit Insurance Fund. The four newest bank failures raise the national tally to seven so far in 2012. Bank failures ended last year by hitting 92, down from 157 seen in 2010. An FDIC spokesperson says that 2010 signaled a high-water mark for closures.

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Central Pacific Adding to Company Directorship

As the new year chugs along, Central Pacific Financial Corp. (CPF) has added to its leadership with the announcement that Duane K. Kurisu will join the company's board of directors. With his appointment to CPF's board, Kurisu will now be serving as a director for both CPF and company subsidiary, Central Pacific Bank (CPB).

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UNC Conducts Study on QRM Rule

According to a recent report from the Center for Community Capital at the University of North Carolina, the new regulations surrounding qualified-residential mortgages will require creditworthy borrowers to take on a heavier financial burden when purchasing a mortgage, and many potential buyers may be pushed out of the mortgage market altogether. The controversial QRM rule, which is contained in the Dodd-Frank Act, has been the subject of lengthy debates since it was first proposed, and the regulatory move is largely unpopular both on Capitol Hill and Wall Street.

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Clear Capital Evaluates Recent FHFA Data

The Federal Housing Finance Agency (FHFA) reported a 1.0 percent rise in U.S. house prices between the timeframe of October to November. The previously reported 0.2 percent decrease in October was revised downward to reflect a 0.7 percent decrease, according to FHFA. Dr. Alex Villacorta of Clear Capital delivered insights on the recent findings, stating in part, "As this index is calculated using sale prices from only the conforming loan segment of the market, it has a tendency to understate both gains and losses than the broader market."

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GSEs Release Strong Refinancing Statistics

During the month of November alone, Fannie Mae and Freddie Mac handled approximately 36,000 mortgages versus October's 34,000 mortgages within the Home Affordable Refinance Program. President Obama's most recent proposition aims to assist more households in refinancing, and in the president's recent State of the Union address, he presented possible modifications to the Home Affordable Refinance Program stating that "responsible homeowners shouldn't have to sit and wait for the housing market to hit bottom to get some relief."

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Ellie Mae Adds New Chief Information Officer

Ellie Mae, one of the top providers of automation solutions for the residential mortgage industry, announced today that David Robins would be joining their team as chief information officer (CIO). Robbins is the former chief technology officer (CTO) of NetApp, Inc.

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New Risk Management Initiative for Collingwood

The Collingwood Group launched a new risk management and compliance division, established with the January 2012 acquirement of GWN Consulting, LLC (GWN), a firm specializing in Federal Housing Administration (FHA) and Ginnie Mae risk management and quality control.

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