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Royal United Hiring on Heels of Expansion

In Indianapolis, Indiana, Royal United Mortgage LLC is creating more than 140 jobs with its planned expansion. The company recently announced its intention to install a new office in the north sector of the city, which will result in adding a high number of new employees between now and 2013.

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CoreLogic Gives Mortgage Builder More

A new offering from CoreLogic is set to boost Mortgage Builder Software├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós programming, with the recent addition of a CoreLogic-driven verification component that will allow for the integration of tax return income.

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More Q2 Layoffs for Mortgage Professionals

Mortgage brokers, originators, and other loan production personnel continue to face a tough jobs market as two mortgage giants slashed their payrolls, according to second-quarter employment numbers released by MortgageDaily.com. The mortgage Web site predicted that bad loans and invitingly low mortgage rates could create the pickup needed for lenders to hire more brokers and loan officers. The results follow much worse numbers from the first-quarter over 2011.

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Q2 Home Prices Up, Still Lag Behind 2010

Home prices crept forward over the second quarter this year but failed to march to the same beat as prices over the same period last year, according to Standard & Poor├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós/Case-Shiller Home Price Indices, which the ratings agency released Tuesday. The numbers reflect a still-stagnant housing economy that continues to wobble on chronically low demand, unsure consumers, and a lending crunch for otherwise creditworthy homebuyers. S&P indices revealed a steady and continuing downward slope for second-quarter home prices since 2010.

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FDIC Voices Concerns Over BAC Settlement

The FDIC stepped in late Monday to halt the mega $8.5-billion Bank of America deal over mortgage-backed securities, according to multiple news outlets. The federal agency, an erstwhile bank regulator, filed its concerns in a U.S. District in New York as an investor with claims to securities at stake in the settlement. A state judge in New York will preside over the decision to green-light the settlement come November, even as an investor group persists in trying to kick the case up to a federal court, according to Bloomberg News.

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Pending Home Sales Dip by 1.3% in July

Fewer homebuyers signed contracts for home purchases over July, casting the housing recovery as one still in flux for pending home sales. The National Association of Realtors released an index Monday that found signed contracts falling off from June, with a 1.3-percent decline from 90.9 recorded that month. According to the index, overall signed contracts dipped to 89.7 in July, remaining 14.4 percent over a weak 78.4 recorded by the index for the same month last year. Regionally, only the West showed signs of health.

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Overture’s Mortgage Division Acquired

Overture Technologies, Inc., has been partially acquired by CompuGain Corporation and its mortgage division is now a wholly-owned subsidiary of the company. Overture, a software solutions company for the mortgage and educational finance industries, sold its mortgage component to CompuGain and will continue to operate as Overture Financial Solutions under the CompuGain banner.

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New Position, New Hire for Sperlonga

Sperlonga Data and Analytics welcomes Brent Stokes as its choice for the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós newly created position of senior vice president. Stokes brings veteran experience earned over a 26-year career in the mortgage industry to his new role, which encompasses Sperlonga├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós homeowners association-oriented programs for lenders, investors, servicers, and other stakeholders.

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FDIC Slaps 34 Banks with Penalties, Orders

The FDIC went after 34 banks for violations of federal law and agency requirements over July, slapping nearly 20 with civil fines, notifying some to correct recent decisions, and barring directors with two institutions to cease their involvement in executive decisions over allegations of personal and fiduciary misconduct. The majority of institutions felt the sting of civil money fines for various reasons. Also, no banks failed over the weekend, leading an FDIC spokesperson to conclude that the trend will continue over 2011.

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Nine Alleged, Convicted in Mortgage Fraud Cases

Another week rolled by with more instances of mortgage fraud, as reported by several news outlets from around the country. Defendants alternately received indictments, pled guilty, and submitted to their sentences from courts as a result of allegations and convictions stemming from mortgage fraud conspiracy, wire fraud, and money-laundering activities. The alleged activities resulted in millions of dollars in fraudulently obtained money from lenders.

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