Homebuilder Lennar Corporation has acquired around $740 million in loans and distressed real estate from three large financial institutions. The combined portfolio includes both residential and commercial properties and consists of approximately 397 loans and 306 properties.

Questions about the legality of foreclosure proceedings have prompted Old Republic National Title Insurance to decide it will no longer insure titles to homes foreclosed by JPMorgan Chase and GMAC Mortgage. Chase and GMAC both halted foreclosure sales in 23 states and are reviewing legal filings that they say may have been signed without a notary's presence or without verifying the supporting documents.

The latest in a string of government extensions is an extension to Fannie Mae's Alternative Modification (Alt Mod) to the Home Affordable Modification Program (HAMP). The extension is being provided so servicers will have enough time to complete the processing of modifications for borrowers who meet the eligibility requirements for the Alt Mod program, which remain the same.

Neil Sherman, managing attorney at Schneiderman and Sherman PC in Farmington Hills, Michigan, is one of this year's recipients of the 40 Under 40 award presented by Crain's Detroit Business, a business news and information Web site covering Detroit and Southeast Michigan.

Pending home sales have increased for the second month in a row, the National Association of Realtors (NAR) reported Monday. The trade group's index is a forward-looking indicator of home sales based on signed contracts. It rose 4.3 percent in August. Lawrence Yun, NAR's chief economist, says a continuing rise in the pending sales index is to be expected from favorable affordability conditions and possible job creation, but he warns that a sudden rise in mortgage rates could stall the recovery.

The Mortgage Bankers Association (MBA) has released a report regarding the results of research examining international mortgage products and comparing them with the mortgage products in the United States. The study found that features and products that are restricted in the Dodd-Frank Bill are widespread in other countries and are not necessarily believed to cause high rates of default. The trade group says the new regulations will deeply impact borrower choice.

Jones Lang LaSalle and Real Estate Disposition, LLC, announced Thursday a list of almost $132 million in non-performing notes will go on the online auction site www.auction.com in October. In this roster are 33 primarily non-performing notes from two special servicers, two regional banks and one life company.

eMortgage Logic and the National Association of Broker Price Opinion Professionals (NABPOP) released Thursday a new version of the BPO Standards and Guidelines (BPOSG). The BPOSG provide wide-ranging parameters for the preparation of Broker Price Opinions (BPOs) throughout the BPO industry, and includes suggested practices for selecting and utilizing properties, pricing considerations, and ethical and competency considerations.

The U.S. Senate and House of Representatives voted Thursday to extend increased loan limits on mortgages backed by Fannie Mae and Freddie Mac. The higher loan limits of $729,750, which were scheduled to expire at the end of 2010, have been extended for an additional nine months, and are now set to expire September 30, 2011. The approved bill also appropriates $20 billion for the Federal Housing Administration to continue making loan commitments though the end of 2010 for a special risk fund.

Tomorrow, Friday, October 1, Treasury Secretary Tim Geithner will host the Financial Stability Oversight Council's first meeting at the U.S. Department of the Treasury. Geithner is the chairperson of the Council. The meeting will include both a closed session and an open session, which begins at 2:30 p.m. EDT and will be streamed live on the Treasury's Web site.