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"To resolve the actual controversy as to the application of Plaintiffs' federal statutory immunity, Plaintiffs are entitled to a judgment declaring that they cannot be liable for the taxes Defendants seek to collect." Similar claims and demands have been made from other Illinois counties. The FHFA's lawsuit "asserts that Fannie Mae and Freddie Mac are exempt from the Illinois transfer taxes and asks the court to block this improper taxation," stated the FHFA in its press release. Auctions by ATG Launches Online Auction June 22 Chicago-based Attorneys' Title Guaranty Fund, Inc. has announced the launch of its new subsidiary, Auctions by ATG, which hosted a multi-property auction on June 22. Buyers were given the opportunity to bid live or online on a mixture of single-family and multi-unit properties with low opening bids and published reserve prices. "Auctions by ATG will provide the most transparent and dynamic auction process available today," said Diana M. Peterson, EVP of Auctions by ATG. "By utilizing the resources and relationships that ATG provides, we are confident that Auctions by ATG will be a market leader and provide excellent opportunities for investors and other property purchasers nationwide." The company's June auction marked the introduction of Auctions by ATG's new online bidding website. The site provides bidders research and analytical tools to evaluate properties prior to auction and also offers complete transparency on auction day. Live-streaming video as well as a live bid in real time is also available to registered bidders, giving them the ability to observe the auction and electronically raise their bids. "No other online auction process in Illinois currently has this capability," Peterson said. "Our online bidding process delivers what so many investors who bid at auctions today want—a totally transparent online bidding experience with the ability to follow and participate in the auction in real-time, online." Peterson explained that online bidders who may not have time to participate can submit a maximum bid and authorize an onsite bidder at the auction to submit bids on their behalf up to their maximum. "Unlike other auction firms, we have direct access to a substantial network of local 88 investors who already attend foreclosure sales at ATG's offices twice a day," Peterson said. "These investors are eager to seize the opportunities Auctions by ATG now offers. In addition, our variety of auction platforms will allow them to partake in many different types of sales and invest in a more diverse range of properties." Auctions by ATG is a provider of live and online real estate auctions. It offers both a tax deed auction platform, as well as residential and commercial auction platforms for REOs, short sales, developer units, and property notes. Iowa rank: 26 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 1.75%2.88% 5.1% year ago 1.69%2.91% 6.0% percent point change 3.5% -1.0%-15.0% Top County WINNEBAGO COUNTY 90+ Day Delinquency Rate Foreclosure Rate may 2012 1.24%6.32% year ago 2.39%3.97% percent point change Indiana rank: 12 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 -48.0%59.2% Top Core-Based Statistical Area OMAHA-COUNCIL BLUFFS, NE-IA 90+ Day Foreclosure Delinquency Rate Rate may 2012 3.33%4.53% 7.9% year ago 1.96%3.05% 3.47%4.63% 8.9% year ago percent point change 2.01%3.39% -4.2% -2.0%-11.2% percent point change -2.3%-10.2% Top County SWITZERLAND COUNTY 90+ Day Foreclosure Delinquency Rate Rate may 2012 4.24%8.92% 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. year ago 4.53%6.49% percent point change -6.4%37.6% Top Core-Based Statistical Area ELKHART-GOSHEN, IN 90+ Day Foreclosure Delinquency Rate Rate may 2012 3.35%5.70% year ago 3.69%6.12% percent point change -9.3%-7.0% 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. STAT INSIGHT Gap between current home prices in Indiana and 2008 peak levels. Source: BMO Financial Group IN THE NEWS Wells Fargo to Limit Refinancing to In-House Loans Wells Fargo announced it will accept refinance applications for homeowners with Federal Housing Administration (FHA) mortgages only if their loans are serviced inhouse by the mortgage lender. Vickee Adams, a spokesperson for Wells Fargo's home mortgage unit based out of Des Moines, Iowa, said the lender currently services more than 500,000 customers with FHA home loans that could qualify to save money by refinancing. She said the lender "expect[s] high customer demand for this product and we want to insure [sic] that our existing customers receive a high level of service without frustrating delays." The move arrives as the FHA continues to accommodate newly modified refinance opportunities for homeowners. The changes are widespread, affecting brokers and originators in retail, wholesale, and correspondent channels.