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VISIT US ONLINE @ DSNEWS.COM FROM THE BENCH Florida rank: 1 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 3.98%13.67% 8.6% year ago 4.61%13.97%10.6% percent point change -13.8%-2.1%-18.9% Top County MIAMI-DADE COUNTY 90+ Day Delinquency Rate Foreclosure Rate may 2012 4.89%19.82% year ago 5.63%21.22% percent point change -13.2%-6.6% Top Core-Based Statistical Area MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL 90+ Day Foreclosure Delinquency Rate Rate may 2012 4.25%16.66% year ago 5.12%17.77% percent point change -17.1%-6.2% 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. KNOW THIS Florida businesses have added 176,300 jobs since employment bottomed two years ago, according to Wells Fargo's Economics Group. Florida Adriana M Aleman, MBA Florida Dreams Realty Group aaleman@floridadreamsrealty.com Cell 321 689 6258 www.floridadreamsrealty.com MEMBER Florida Judge Dismisses Claim Against MERS Merscorp Holdings recently announced that a U.S. district judge ruled in favor of Merscorp and its Mortgage Electronic Registration Systems, Inc., (MERS) and dismissed a recording fee filed by the clerk of the circuit court of Duval County in Florida. U.S. District Judge Harvey Schlesinger dismissed with prejudice a six-count claim seeking relief under the provisions of Florida's Recording Statutes and alleging civil conspiracy, unjust enrichment, and fraud. Schlesinger noted that the statutes cited by the plaintiff did not actually provide a cause of action to sue, but merely laid out his responsibilities and duties for recording documents. "The central theme of Plaintiff's Complaint is the assertion that MERS is falsely designating itself as a mortgagee on mortgages filed and recorded with Plaintiff," Schlesinger wrote. "The Florida courts have consistently affirmed the use of MERS as the designated mortgagee of record and the principle that MERS may serve as mortgagee or as nominee for the lender and the lender's successors and assigns." Moody's Says Court Unlikely to Favor Homeowner in HighProfile Florida Case If a lender produces a fraudulent document when attempting to foreclose on a borrower, should lenders be able to voluntarily dismiss the foreclosure then re-file the case after fixing the error? The answer to this question is currently being decided by the Florida Supreme Court, which heard arguments May 10 in Roman Pino v. Bank of New York Mellon. If the court does rule in favor of Pino, industry participants say it will be even more difficult for the judicial state to proceed with foreclosures and work through the massive backlog of cases that have built. A judgment signifying servicers can no longer fix documents and later re-file them would stall or lead to the dismissal of foreclosures. While a decision has not been made, Moody's Analytics said in a report that the Is Your Agent Your Strongest Link? Metro Brokers Realty Premier Agents. Premier Results. Greater Orlando Area, including: Orange, Osceola, Seminole, Polk & Lake Counties Cindy Elkhander & The Metro Brokers Team What You Can Expect: •12 Hr. Max for Occupancy Checks. • 99% CFK Success Rate. • 48 Hr. Initial BPO turnaround. • Preliminary Title/Lien Search to avoid any surprises while in escrow. • 21 Days Average DOM. • 98% Initial BPO Value/Sale Price Ratio. • Weekly Escrow updates until Closing. • 2008 - 2009 Five Star Award Winner, 2010 Orlando Magazine • Top REALTORS • Five Star Institute & Open Door/Default School Certified • Preferred Status & 100% Score Card with some of the major Lenders/Servicers Cell 407-383-5000 Office 407-237-0905 Fax 407-237-0906 reo@metrobrokersfl.com www.MetroBrokersFL.com 83