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�� of three to five years and is only an option for individuals with predictable income. Chapter 11 filings increased and rose 9.2 percent to 130, up from 119 in 2011. Chapter 11 bankruptcy allows businesses to reorganize themselves and restructure their debt. Generally, a business that has filed a Chapter 11 is allowed to continue operating. Overall, the total number of bankruptcy filers decreased, with 8,394 individuals in Connecticut filing for Chapter 7, Chapter 13, and Chapter 11, down from 9,571 in 2011. FHFA, GE Reach Settlement over Securities Sold to Freddie Mac The Federal Housing Finance Agency (FHFA) and General Electric (GE) have reached a settlement to resolve claims of misrepresented mortgage-backed securities (MBS) sold to Freddie Mac. The settlement brings to a close one of 18 legal actions filed by FHFA against various financial institutions in its capacity as conservator for Fannie Mae and Freddie Mac. Other firms���including UBS, Goldman Sachs, and Deutsche Bank���have filed motions to have their cases dismissed, though none have succeeded so far. FHFA���s suit, filed in 2011, alleged Fairfield, Connecticut-based GE misrepresented the quality of loans contained in $549 million of securities sold to Freddie Mac. The loans collapsed, leading to losses for the GSE and contributing to the financial crisis of the last several years. FHFA filed a notice of voluntary dismissal as a result of the settlement. U.S. District Court Judge Denise Cote signed the dismissal, effectively ending the action. Details of the settlement were not disclosed to the public. In a statement, FHFA general counsel Alfred Pollard said, ���This settlement resolves the dispute between FHFA and GE consistent with FHFA���s responsibilities as conservator of Freddie Mac. FHFA is pleased this lawsuit has been resolved and appreciates the work of Freddie Mac in this matter.��� rank: 20 Foreclosure Rate december 2012 3.98% Unemployment Rate 3.05% 6.9% year ago 3.08% 3.82% 7.2% percent point change 29.1% -20.2% -4.2% Top County KenT CounTy 90+ Day Delinquency Rate Foreclosure Rate december 2012 5.70% 3.88% year ago 3.98% 4.88% percent point change 43.2% -20.4% Top Core-Based Statistical Area Dover, De 90+ Day Delinquency Rate Foreclosure Rate december 2012 5.70% 3.88% year ago 3.98% 4.88% percent point change 43.2% -20.4% 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 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. District of Columbia rank: 28 90+ Day Delinquency Rate 3.45% Foreclosure Rate december 2012 Unemployment Rate 2.41% 8.5% year ago 3.03% 2.96% 10.1% percent point change 13.8% -18.8% -15.8% Top County DisTriCT of Columbia 90+ Day Foreclosure Delinquency Rate Rate december 2012 3.45% 2.41% year ago 3.03% 2.96% percent point change 13.8% -18.8% Top Core-based statistical area WashingTon-arlingTon-alexanDria, DC-Va-mD-WV 90+ Day Foreclosure Delinquency Rate Rate december 2012 3.05% 2.37% Fannie Mae Provides $33.8B to Multifamily Sector in 2012 Washington, D.C.-based Fannie Mae maintained its position as the largest source for multifamily financing in 2012 after providing $33.8 billion to the sector. The figure translates into 560,000 multifamily units and represents the third highest acquisition year in the company���s history. Fannie Mae also announced its Delegated Underwriting and Servicing lenders delivered 98 percent of the GSE���s multifamily loan acquisitions for 2012. The top three DUS producers were Walker & Dunlop, LLC; Wells Fargo Multifamily Capital; and Beech Street Capital, LLC. ���Private capital continued to return to the market, an important step to restoring a more normal lending environment,��� said Jeffery Hayward, SVP and head of the multifamily mortgage business at Fannie Mae. Having a balanced market with diverse sources of liquidity and credit means the whole market is healthy and everyone is doing their part.��� Meanwhile, the Mortgage Bankers Association (MBA) reported commercial and multifamily lending volume increased by 49 percent on a quarterly and yearly basis in Q 4 2012. Among the property types, hotels saw the biggest surge from Q 4 2011, spiking 331 percent, while office properties rose by 78 percent and multifamily properties by 49 percent. For the full year in 2012, commercial and multifamily mortgage originations grew by 24 percent compared to 2011, and multifamily properties increased 36 percent during the same time period. MBA projects further growth for commercial and multifamily lending and expects the industry to reach $254 billion in 2013, an 11 percent increase from 2012 volumes, and for 2015 to rise to $289 billion. For multifamily mortgages, originations are forecast at $100 billion in 2013. STAT INSIGHT year ago 1.74% KNOW THIS Fraud claims on mortgage applications in Bridgeport and Millford, Connecticut fell by 18.59 percent from Q2 2012 to Q3 2012, according to Kroll Factual Data. IN THE NEWS Delaware 90+ Day Delinquency Rate VISIT US ONLINE @ DSNEWS.COM 1.65% percent point change 75.5% note: 44.2% 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. Total home sales in Delaware from December 2011 to December 2012. Source: CoreLogic 85