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Guaranteed Rate Brings Tested Sales Leader on as Director

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Chicago-based Guaranteed Rate announced the hiring of seasoned mortgage industry vet Tom Gamache as national director of retail production. Gamache brings more than two and a half decades of industry experience to Guaranteed Rate, recently serving in executive sales positions at MetLife Home Loans and Bank of America, where he led his sales team to exceed quarterly and annual production goals.

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Class Appraisal Names New Sales Manager

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Class Appraisal, Inc. appointed a former mortgage banking executive to manage sales in the middle market. Tim Perkins was selected to lead the company as a consultant and business developer. Over the years, Perkins has held key positions with large mortgage banking companies such as Citigroup and JP Morgan Chase.

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CBRE Group Reports Continued Growth in Commercial Real Estate

The U.S. commercial real estate (CRE) market continued to look better in the first quarter of 2013, according to CBRE Group, Inc. The latest analysis from the CRE services and investment firm shows vacancy levels dropping or remaining level across all commercial sectors as demand continues to rise. Retail locations and warehouse buildings had their best quarter in terms of vacancy/availability declines in several years "as a result of a more confident consumer," CBRE Group reports.

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AmeriBid Marketing Officer Promoted to VP

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In Oklahoma, AmeriBid LLC announced the promotion of chief marketing officer John Pellow to VP. Pellow joined the company in 2009, serving before then as director of marketing for a real estate auction and brokerage services firm, where he was responsible for the marketing and sales support of several divisions.

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Arizona Sees First FDIC-Insured Bank Failure Since 2011

Arizona's Gold Canyon Bank became the fifth FDIC-insured bank to fail in 2013, the agency announced. The Arizona Department of Financial Institutions closed the bank Friday, appointing FDIC as receiver. To protect depositors, Gold Canyon Bank's estimated $44.2 million in deposits has been assumed by First Scottsdale Bank, National Association, which has also agreed to purchase essentially all of the failed bank's $45.2 million in total assets.

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Mortgage Fraud Falls in Q4, Florida Ranks Highest in Dollar Volume

Mortgage Daily's Mortgage Fraud Index fell to its lowest level in nearly five years in Q4 2012, but the drop may just be a temporary dip. The fraud index read 758 in the fourth quarter, down from 1,017 in Q3 and 1,141 in Q4 2011. According to Mortgage Daily, the fourth-quarter index reading was the lowest since first-quarter 2008. In terms of dollar amount of loans involved in fraud, California posted a decline from the third quarter, when it ranked No. 1. It was replaced by Florida, which reported about $246.9 billion involved in fraudulent activity.

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