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Superstar Singer Lists Georgia Mansion for $3.2M

After a tumultuous divorce, Grammy-winning singer Usher is selling his Georgia mansion, recently listing the property for $3.2 million. According to Zillow, the 12,544-square-foot home still serves as the main residence for the star's now ex-wife, and the website noted that, as per their settlement agreement, Usher is allowed to place the abode on the market with only 60-days notice.

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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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Bernanke: Crisis Hit Minorities, Low-Income Families Hardest

In a speech at the Operation HOPE Global Financial Dignity Summit in Atlanta, Federal Reserve Chairman Ben Bernanke spoke of the amplified effect the housing crisis has had on minorities and low-income families across the country. He pointed out that while homeownership has declined for the nation overall, the decline has been steepest among households with incomes of $20,000 or less. The homeownership decline among African Americans is also steeper than the national average, Bernanke said, referencing data from the Census Bureau.

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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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