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Why so Few Houses for Sale? Lots of Reasons.

Inventories of homes for sale have been slow to bounce back since the 2007-09 recession, despite steady price appreciation since January 2012. Normally, higher prices reflect robust sales. But lately, prices have been rising even though sales remain stuck at relatively low levels, largely due to a lack of inventory. So why are there so few homes for sale? Two Fed economists examine the many factors affecting today's inventory levels.

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As Borrowers Emerge from Underwater, Cloud of Problem HELOCs Rises

The percentage of homeowners who owe more on their mortgages than their homes are worth has declined to less than 12 percent as of the third quarter of this year, according to Lender Processing Services' (LPS) Mortgage Monitor report. While the increasing number of homeowners rising above water is good news for the market, LPS detects some tumultuous seas ahead as a cloud of problem home equity loans forms on the horizon.

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Fannie Mae Reports on October’s Book of Business

Fannie Mae completed about 13,000 loan modifications in October, bringing the year-to-date total to nearly 134,000. At the same time, the GSE's serious delinquency rate for conventional single-family mortgages declined seven basis points over the month, dropping to 2.48 percent. According to the company's latest monthly volume summary, Fannie Mae's total book of business is currently valued at about $3.17 trillion.

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Capital Markets Veteran Outlines New Method of Home Financing

Perhaps you've known someone who raised money for a documentary or civic project by making an appeal through crowdfunding on the Internet. Now, the concept of pooled resources is being used as an investment vehicle offering equity in homeownership to investors and loan assistance to selected prospective homeowners.

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VA Increases Allowable Attorney Fees

The U.S. Department of Veterans Affairs (VA) recently published a notice in the Federal Register that new maximum foreclosure attorney fees will be allowed for loan terminations completed on or after December 12, 2013. Maximum fee amounts vary by state. There are no changes in the amounts allowed for deeds-in-lieu of foreclosure or bankruptcy releases, although VA continues to review these fees.

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Despite Rising Prices, Investors Expected to Remain Most Active Buyers

While rising home prices have lifted many underwater homeowners to positions of positive equity, the real estate information and analytics provider DataQuick warns tight credit will still preclude many traditional buyers from the market. Instead, investors will continue to carry an outsized portion of the purchase market for the foreseeable future, according to DataQuick.

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Appraisal Logistics Earns ISO Certification

Appraisal Logistics, a provider of compliant appraisal management solutions for the mortgage industry, announced it has received the ISO 9001:2008 Certification for Quality Management Systems Standards by LQRA, passing a formal evaluation created to examine quality management standards in the financial services industry.

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Hubzu Welcomes New President

Hubzu, an online real estate marketplace, has a new leader on board. The company named Eric M. Koenig as its new president. Koenig has experience driving growth initiatives for technology brands, having served most recently as COO and SVP of global business operations at Expedia.

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Fed Cites Improvements in Real Estate in Half of Districts

""Modest to moderate"" economic growth continues to be the theme at the Federal Reserve, which this week released its Beige Book, tracking expansion across the 12 Fed districts from October through mid-November. The central bank reported improvements in residential real estate activity in the Boston, Philadelphia, Chicago, St. Louis, Minneapolis, and San Francisco regions, with single-family home sales softening in most of the remaining districts.

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LOGS Network Welcomes Scott Brinkley as CEO

LOGS Network announced Wednesday that it has made a strategic addition to its leadership team with the addition of Scott Brinkley as the organization's new CEO. Before joining LOGS, Brinkley held executive positions for two decades with First American and CoreLogic. He also co-founded a large claims processing business and most recently was CEO of the Illinois foreclosure law firm Pierce and Associates.

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