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IN THE NEWS Texas DebtX Announces Sale of FDIC Assets On behalf of the FDIC, DebtX sold more than $358 million of participations, loans, and leases from the Tennessee Commerce Bank receivership on July 17. The portfolio included $46.5 million of performing non-lead loan participations and $311.2 million of performing and non-performing loans and leases. Collateral is located throughout the United States and includes commercial real estate properties, aircraft, rolling stock, construction equipment, medical equipment, boats, and business assets. Interested investors were able to bid on individual loan participations or on predetermined loan and lease pools. "We anticipate strong demand for these assets," said DebtX CEO Kingsley Greenland. "Investors are excited to have an opportunity to bid on $440 million in FDIC assets." DebtX is a full-service loan sale advisor for commercial, consumer, and specialty finance debt and operates an online marketplace for loan sales. Texas rank: 45 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 2.51%1.82% 6.9% year ago 2.76%1.69% 8.1% percent point change -9.1% 7.8%-14.8% Top County 90+ Day Delinquency Rate JONES COUNTY Foreclosure Rate may 2012 1.69%4.33% year ago 2.01%2.45% percent point change -15.8%77.2% Top Core-Based Statistical Area MCALLEN-EDINBURG-MISSION, TX 90+ Day Foreclosure Delinquency Rate Rate may 2012 2.75%2.94% year ago 3.58%2.73% percent point change -23.3%7.7% 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 May 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary May 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 104 Danny Norwood Legacy Real Estate 432-413-2764 cell danny@dannynorwood.com www.dannynorwood.com IN THE NEWS FAS Exiting Out of Contract with GSE Due to Lack of Profitability Field Asset Services (FAS) has decided to transition out of a large property services agreement with a GSE, FAS' parent company FirstService Corporation announced last month. The agreement was first awarded in 2008 and was reset earlier this year, but "with a significantly increased scope in a very competitive environment," according to a statement from FirstService Corporation. The company said it attempted to provide services based on the revisions, but decided it could not profit while maintaining an acceptable quality standard. "We made the difficult decision to transition out of this contract in our property services division when it became clear it was not profitable," said Jay S. Hennick, founder and CEO of FirstService Corporation. "Since winning this assignment back in 2008, our team consistently exceeded quality and service standards and was rewarded with increased volumes and share over the years. However, as market conditions changed and foreclosure volumes declined, the scope of the services expected increased without commensurate compensation." The current annual run rate of revenues generated by the agreement is approximately $100 million, which is a 30 percent decline from the previous year. Hennick added the company is exiting a relationship representative of about 4 percent of its revenues. However, the company expects net earnings to be positively impacted going forward. An agreement was reached to transition out of the contract as early as August 1, 2012. Additional details not included in the release, such as the name of the GSE, could not be revealed due to strict confidentiality regarding FAS's work with clients, a company spokesperson said. Nationstar Completes Acquisition of Aurora Assets Nationstar Mortgage announced last month that it has completed the acquisition of approximately $63.7 billion in residential mortgage servicing rights (MSRs) from Aurora Bank and its subsidiary, Aurora Loan Services LLC. The Lewisville, Texas-based Nationstar first revealed the agreement in early March. For the Aurora portfolio make-up, about 75 percent are non-conforming loans in private-label securitizations and approximately 25 percent are conforming loans in GSE pools. With the acquisition, Nationstar's servicing book has grown to approximately $177 billion, and the servicer has about one million customers. A portion of the MSR purchase price was funded through a 65 percent co-investment from Newcastle Investment Corp., according to a company release. eMortgage Logic Adds Photo Manager Feature to App eMortgage Logic, LLC., (EML) has announced the addition of its Photo Manager feature and official downloadable EML application icon for the smartphone home screen. The application allows EML's real estate partners to upload, view, and manage photos in the field, saving time for agents and brokers. It lists the required photos necessary for each particular order and provides multiple options for attaching photos, including instant upload or later access on the phone's camera roll. EML also provides a drop-down box to quickly select property view or room type, keeping images organized and labeled. "It is an honor to work with creative professionals that understand the business as it stands today," said Mary Jacque Thompson, SVP of operations at EML. "EML continues to produce state-of-the-art technology that allows us to provide tools that not only

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