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The new parent will take on the mortgage insurance subsidiaries and Genworth. Freddie Mac Reports Record Volume for Multifamily Business As the multifamily sector continues to flourish, Freddie Mac also announced it hit record volume for its multifamily business. In 2012, the McLean, Virginia-based GSE supported the multifamily sector with $28.8 billion. The figure represents a 42 percent increase from 20.3 billion in 2011 and is the highest level since 2008, when multifamily business activity reached a record $24 billion. ���It was a phenomenal year for us and the sellers and servicers in our network,��� said David Brickman, Freddie Mac���s multifamily SVP. ���We achieved record volume while maintaining strong credit discipline and providing essential liquidity to the growing multifamily mortgage market. In the fourth quarter, we completed about 33 percent of our yearly volume���approximately $10 billion in multifamily mortgages.��� Overall, the GSE was able to provide financing for more than 1,600 properties, which translates into more than 435,000 apartment units. In addition, most of the units are affordable to low- or moderateincome families. Freddie Mac also announced the multifamily business in 2012 hit its lowest delinquency rate in two years. ���Multifamily is a profitable business line for Freddie Mac, and has produced nearly $4 billion in segment earnings since 2010. This includes $1.65 billion in the first nine months of 2012,��� Brickman added. STAT INSIGHT -33.47% Annual change in foreclosure filings in Virginia from January 2011 to January 2012. Source: RealtyTrac 108 Washington rank: 21 90+ Day Delinquency Rate Foreclosure Rate december 2012 3.58% Unemployment Rate 2.86% 7.6% year ago 4.92% 1.78% 8.6% percent point change -27.3% 60.4% -11.6% Top County 90+ Day Delinquency Rate PierCe CounTy Foreclosure Rate december 2012 5.28% 4.30% industry-leading team of economists and data analysts who produce extensive housing data and research,��� he added. In addition, Zillow Digs allows homeowners to connect with local professionals such as architects, contractors, and designers. Home improvement professionals can create a free Zillow Digs profile with contact information, photos of past work, and a link to their website. FDIC Announces First 2013 Bank Failure year ago 7.14% 2.52% percent point change -26.0% 70.6% Top Core-Based Statistical Area ABerdeen, WA 90+ Day Delinquency Rate Foreclosure Rate december 2012 4.24% 4.27% year ago 5.69% 2.35% percent point change -25.5% 81.8% 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 December 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary December 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Zillow Launches Home Improvement Marketplace Homeowners who are wondering how much a kitchen or bathroom remodeling project should and will cost can rely on a new home improvement marketplace from Zillow for answers. On February 5, Seattle-based Zillow announced the launch of Zillow Digs, which is available for free on the company���s website or as an iPad app. Through Zillow Digs, users can browse photos of bathrooms and kitchens and see the estimated costs, along with a breakdown based on labor and materials. ���Tens of millions of homebuyers shop for homes on Zillow each month, and home improvement is a natural next step for us in consumer empowerment and transparency of information to help people make smarter decisions,��� said Spencer Rascoff, CEO at Zillow. ���I���m also excited to introduce a revolutionary new tool for consumers: Digs Estimates. This first-of-its-kind remodeling cost estimate algorithm was created by Zillow���s Washington���s Westside Community Bank has the dubious honor of being the first to fall in 2013. The FDIC announced that the Washington State Department of Financial Institutions shuttered Westside on January 11. The bank���s two branches are reopening as branches of Irvine, California���s Sunwest Bank. According to the FDIC, Sunwest Bank is assuming all of Westside���s estimated $96.5 million (as of September 30, 2012) in deposits. Sunwest also agreed to purchase essentially all of the closed bank���s $97.7 million in assets. The FDIC estimates Westside���s closure to cost the Deposit Insurance Fund about $20.3 million. While Westside is the first bank to collapse in 2013, it is also Washington���s first failure in more than a year. The last FDICinsured institution to close in the state was the Bank of Whitman in August 2011. Redfin: Sales, Listings, Prices Slip in December The housing market felt December���s chill as home sales, listings, and prices all slipped, according to the Real-Time Price Tracker from Seattle-based Redfin. Redfin���s Price Tracker, a monthly report on prices, sales, and inventory across 19 U.S. markets, is based on local multiple listing services used directly by real estate agents to list properties and record sales. According to the data for December, all three of the indicators tracked took a plunge during the holidays. While it���s not unusual to see the market cool off in the holiday season, December���s decline in listings was considerable compared to the years prior. According to Redfin, listings were down 11.5 percent from November, 33 percent from December 2011,