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FNC: Non-Distressed Prices Hit 20-Month High in August

According to FNC's Residential Price Index, home prices rose in August for the sixth consecutive month, increasing at a seasonally unadjusted rate of 0.3 percent from July. While August's month-to-month increase is modest compared to the months prior, it still represents a peak since early 2011. FNC said the increase is "consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities."

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Real Estate Attorney Sentenced to 51 Months for Mortgage Fraud

A Manhattan real estate attorney was sentenced to 51 months in prison for his role in a $9 million mortgage fraud scheme, Manhattan U.S. Attorney Preet Bharara announced Friday. According to the indictment and statements made in court proceedings, Eric Finger and his co-conspirators used "straw buyers" to fraudulently obtain mortgages from lenders.

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MISMO Seeking Nominations for Governance Committees

MISMO, the non-profit standards development subsidiary of the Mortgage Bankers Association (MBA), announced Monday it is seeking nominations to serve on its Residential and Commercial Governance Committees. The committees are responsible for providing strategic and tactical guidance to MISMO's workgroup and standards development activities.

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GSEs Step Up Presence in Multifamily Sector

The GSEs have increased their presence in the multifamily loan sector over the past several years, relying on these loans to meet affordable housing goals, according to a recent study by the Government Accountability Office (GOA). From 1994 through 2011, both GSEs generally increased the amount of multifamily loans they held. Fannie Mae generally held a lower percentage of multifamily loans than Freddie Mac. However, the trend changes slightly around 2008.

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Redfin: September Home Prices Avoid Usual Seasonal Retreat

Home prices in September were up 5 percent year-over-year while home sales posted a 4 percent annual increase, even as housing metrics began their typical seasonal declines, according to Redfin's analysis of activity across 19 major U.S. markets. Between August and September, these 19 markets saw prices decline just 0.8 percent, which Redfin says is a smaller decline than is customary at this time of year. Over the same period, home sales dropped 17 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øa figure the company says represents "a typical seasonal decline."

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