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» numbering 314, an 80 percent decrease from 1,576 in January 2012. Massachusetts rank: 30 90+ Day Delinquency Rate Foreclosure Rate January 2013 3.49% Unemployment Rate 2.33% 6.7% year ago 3.64% 2.51% 6.8% year-over-year change -4.1% -6.9% -1.5% Top County HaMpden CounTy 90+ Day Delinquency Rate Foreclosure Rate January 2013 5.76% 3.74% year ago 5.82% 3.38% year-over-year change -1.1% 10.7% Top Core-Based Statistical area piTTSfield, Ma 90+ Day Delinquency Rate Foreclosure Rate January 2013 4.12% 3.52% year ago 3.74% 4.03% year-over-year change 10.0% -12.7% 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 January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Foreclosure Activity in Bay State Falls Sharply in January Foreclosure petitions in Massachusetts plunged nearly 30 percent year-over-year in January, according to a report from the Warren Group. Foreclosure petitions—the first step in the foreclosure process—decreased to 940, down from 1,333 in January 2012. The decrease marks the third straight month petitions have fallen in Massachusetts. "We're finally seeing a clear picture of the trend in foreclosures, and it is good news," said Timothy M. Warren Jr., CEO of the Warren Group. "The housing market has greatly improved, a sign that the economy is gaining ground and foreclosures will continue to subside." January also saw a decrease in foreclosure deeds, or completed foreclosures, after totaling 292, a 63 percent decrease from 799 deeds recorded in January 2012. The number of auction announcements experienced a steep drop as well after Massachusetts Homes Sales, Median Prices Up in January Single-family home sales in Massachusetts rose more than 10 percent year-overyear in January, according to new data from the Warren Group, publisher of Banker & Tradesman. Single-family sales reached 2,680—the highest January sales level since 2007, when there were 2,953 transactions. January 2012 single-family home sales were 2,436. "We ended 2012 on a pretty positive note, and this is carrying into January," said Timothy M. Warren Jr., CEO of the Warren Group. "Recent pending sales data are a hopeful sign for a strong spring market. And given low mortgage rates and steady prices, there are positive signs that 2013 will be a second year of recovery." According to the Warren Group's data, the median sale price of single-family homes in the Bay State increased for the fourth consecutive month in January, rising 6.8 percent to $277,750, the highest median price for January in three years. Warren attributed the price increase to low inventory and noted that rising prices "should in turn give sellers more confidence to put their homes on the market." Condominium sales also increased statewide in January, rising 11 percent on an annual basis to 1,006. This was the first January since 2008 in which condo home sales broke the 1,000 mark. Meanwhile, the median condo price in January slipped a bit, dropping 2 percent yearover-year to $240,000. The Warren Group notes this is the lowest price for condos in Massachusetts since 2009, when the median price was $209,900. STAT INSIGHT 2,528 Total foreclosure sales in Massachusetts in Q4 2012. Source: RealtyTrac VISIT US ONLINE @ DSNEWS.COM Michigan rank: 38 90+ Day Delinquency Rate Foreclosure Rate January 2013 2.66% Unemployment Rate 1.55% 8.9% year ago 3.31% 2.41% 9.2% year-over-year change -19.6% -35.7% -3.3% Top County BranCh CounTy 90+ Day Delinquency Rate January 2013 3.17% Foreclosure Rate 2.58% year ago 2.99% 3.93% year-over-year change 5.9% -34.3% Top Core-Based Statistical area ColdwaTer, MI 90+ Day Delinquency Rate Foreclosure Rate January 2013 3.17% 2.58% year ago 2.99% 3.93% year-over-year change 5.9% -34.3% 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 January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Flagstar to Sell Assets of DocVelocity to Capsilon In Michigan, Flagstar Bancorp, Inc., announced an agreement to sell the assets of DocVelocity, its document imaging business for mortgage lenders, to Capsilon, a provider of cloud-based sharing, imaging, and collaboration services for mortgage lenders. Capsilon developed much of the technology that DocVelocity has marketed and sold since 2007 and that Flagstar has used to provide paperless processing to its wholesale customers. Flagstar will continue to use the DocVelocity service after the transaction. "DocVelocity has played an important part in establishing and solidifying Flagstar's position as a leader in paperless mortgage processing for our customers," said Jason Dufner, SVP of change management at Flagstar. "That's a differentiator in the marketplace that we intend to maintain." The sale will be seamless for Flagstar customers, who will continue to benefit from the DocVelocity solution, staff, and 95

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