Mortgage Contracting Services (MCS), a nationwide property preservation and inspection services provider, has added Steve Paton to its team as SVP, responsible for overseeing the company’s Tampa, Florida operations and vendor management. With more than 27 years in the industry, Paton’s experience spans default servicing, loss mitigation, REO, call center, and collections.
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Foreclosures continue to drive down home prices in hard-hit states like Michigan, but according to the auction company Hudson & Marshall of Texas, this is good news for buyers and investors looking for bargains on homes.
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Both the House bill for financial regulatory reform and the draft Senate bill currently being debated include across-the-board risk retention provisions for home mortgages. The idea is to ensure lenders have more “skin in the game,” to prevent the risky practices that ignited the housing crisis.
But according to a new study by the Community Mortgage [...]

With the buy-now attitude fading, national home price reduction levels continued to decrease this month, according to a recent report by San Francisco-based Trulia, Inc., a real estate search engine. As of March 1, 19 percent of listings on the market had experienced at least one price cut, falling 10 percent from the previous month [...]

In an effort to attract buyers, home sellers in major cities throughout Florida are reducing prices by more than 10 percent, according to a monthly survey of home listings conducted by ZipRealty, an online real estate brokerage based in Emeryville, California.
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