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In fact, Fannie Mae has incurred a net income of $9.7 billion over the first three quarters of this year, leading the GSE to expect an annual net income for the first time since 2006. Several factors are contributing to Fannie Mae's improved circumstances, including declining fair value losses, increasing home prices, and increasing returns on REOs. The company's REO inventory is declining. At the end of September, Fannie Mae held 107,225 REOs, down from 209,266 at the end of June. During the third quarter, Fannie acquired 41,884 REOs, down from 43,783 new REOs taken in during the second quarter. In all, Fannie Mae's single-family REO inventory totals $9.3 billion, according to the company's third-quarter financial statement. Fannie Mae also reported a decline in its single-family delinquency rate for the 10th consecutive quarter. Currently, Fannie's single-family delinquency rate of 3.41 percent is lower than the private market's. Addressing those homeowners who are delinquent, Fannie Mae reported 42,000 loan modifications in the third quarter. Since January 2009, the GSE has completed 839,000 modifications. Also, since January 2009, Fannie Mae has provided about $3 trillion in liquidity to the mortgage market, ultimately leading to the financing of 8.9 million mortgage refinances, 2.5 million home purchases, and 1.5 million rental units. IN THE NEWS Florida rank: 1 90+ Day Delinquency Rate Foreclosure Rate september 2012 4.05% Unemployment Rate 12.75% 8.7% year ago 4.15% 14.03% 10.4% percent point change -2.4% -9.1% -16.3% Top County MiaMi-DaDe CounTy 90+ Day Foreclosure Delinquency Rate Rate september 2012 5.08% 18.31% year ago 5.14% 20.85% percent point change -1.3% -12.1% Top Core-Based Statistical area okeeChoBee, FL 90+ Day Delinquency Rate Foreclosure Rate september 2012 4.07% 17.97% year ago 4.02% 17.22% percent point change 1.3% 4.4% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Florida KNOW THIS There was no change in foreclosure filings in Washington, D.C., from Q3 2011 to Q3 this year, according to RealtyTrac. 102 Adriana M Aleman, MBA Florida Dreams Realty Group aaleman@floridadreamsrealty.com Cell 321 689 6258 www.floridadreamsrealty.com MEMBER STAT INSIGHT $4,395 The average closing cost in Florida, giving it the fourth highest in the country. Source: Bankrate.com Rogers Townsend Selects NetDirector for Data Exchange Service NetDirector, a company that provides a cloud-based data exchange service, announced the addition of Rogers Townsend & Thomas, P.C. to its network of users. Rogers Townsend uses NetDirector interfaces with its case management system (CMS) to automate data feeds with its client default servicing platforms and other trading partners. The firm migrated key interfaces to NetDirector to meet demands for client/ partner interfaces. Tampa-based NetDirector explained its centralized cloud-based approach to data integration allows Rogers Townsend to make changes quickly and with more trading partners. "It is essential that we have a reliable data exchange service that provides data and document automation with our CMS," said Reggie Corley, default services department head at Rogers Townsend. "NetDirector has proven to be a reliable and trusted technology partner. Our firm is seeing many benefits of working with a flexible data exchange service that is able to adapt to industry changes in a timely fashion." "Rogers Townsend has quickly become a valued partner by pushing the envelope when it comes to adopting new data and document automation," said Harry Beisswenger, CEO at NetDirector. Rogers Townsend with offices in the Carolinas and the U.S. Virgin Islands, provides counsel to the banking, default services, insurance, real estate planning and probate, and title services sectors. a la mode to Waive Fees for Disaster Inspection Reports Real estate technology provider a la mode, inc., announced that its Mercury Network service will waive all fees related to gathering disaster reports in areas impacted by Hurricane Sandy. According to a company release, in the aftermath of Sandy, orders for disaster inspection reports from lenders increased more than 200 times the normal level.