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2012: El Paso, Texas (+18.5 percent); Albuquerque, New Mexico (+8.1 percent); Little Rock, Arkansas (+7.7 percent); Fort Myers, Florida (+1.5 percent); and Youngstown, Ohio (+0.2 percent). Meanwhile, California's larger metros reported the greatest decreases in for-sale homes over the past year. Among the 30 largest metros covered by Zillow, four of the top five in inventory contraction call California home: Sacramento (-48 percent), Los Angeles (-45.7 percent), San Francisco (-40.9 percent), and San Diego (-39.4 percent). The outlier is Minneapolis-St. Paul, Minnesota, which saw a 36.7 percent drop in inventory. "The supply of for-sale listings continues to dry up, driven in part by potential sellers trapped in negative equity and homeowners that won't sell out of fear they won't be able to find a suitable home to buy later," said Dr. Stan Humphries, Zillow's chief economist. While inventory declined year-over-year in February, Zillow noted the drop was less severe than in January, which saw a 17.5 percent decline from the previous year. In addition, almost two-thirds of the areas surveyed showed a smaller year-over-year decline in for-sale homes in February than in January, which might indicate an easing in today's tight inventory. Humphries expects the inventory issue will fix itself as rising prices coax sellers back into the market. However, he says this spring season may be a dry one with buyers vying for what inventory is available. STAT INSIGHT +172% Year-over-year increase in foreclosure starts in the state of Washington during the month of February. Source: RealtyTrac 110 Wisconsin rank: 24 90+ Day Delinquency Rate Foreclosure Rate February 2013 2.6% Unemployment Rate 2.7% 7.2% year ago 2.7% 3.7% 6.9% year-over-year change -3.4% -26.2% 4.3% Top County JaCkson CounTy 90+ Day Delinquency Rate February 2013 4.4% Foreclosure Rate THE LEADER IN DEFAULT SERVICING NEWS 7.1% year ago 3.5% 6.5% year-over-year change 27.7% 8.2% Top Core-Based statistical area Janesville, Wi 90+ Day Delinquency Rate Foreclosure Rate February 2013 3.4% 3.9% year ago 4.1% 5.0% year-over-year change -17.4% -23.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary February 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS Fiserv Integrates Common Origination Platform with LoanServ Solutions Fiserv, Inc., a Wisconsin-based global provider of financial services technology solutions, announced its Common Origination Platform and LoanServ solutions have been integrated to provide real-time, full-circle loan boarding processes for all mortgages, lines of credit, and installment loans. The integration provides a consolidated view of each customer as well as a single view of risk for loan portfolios. It also eliminates duplication within processes and the business management of the systems, and it cuts out potential errors caused by manual data entry. "Fiserv has clients that use LoanServ to service mortgages, unsecured personal loans, and home equity products, and others are using Common Origination Platform to also originate and close the same types of loans," said Kevin Collins, president of lending solutions at Fiserv. default servicing in print and online @ dsnews.com 04.2013 Where Oh Where Did My REO Go? PINPOINTING REO VALUES When it comes to distressed addresses, the old adage rings true: It's all about location— of the asset, the economy, and the buyers. Cover Story The oncestrong stock of bank-owned homes is dialing down in many markets, and numbers seem programmed for a brusque ebb and flow. ENTER THE eNOTE eNOTE Electronically signed promissory notes are landing on court dockets. Here's what pros need to know to avoid legal wranglings and get their judicial foreclosures off the ground. JUDICIOUS PROPERTY MANAGER NEEDED Amid budget cuts and promises to eliminate waste, the government is bleeding billions to maintain and secure vacant, underutilized federally owned properties. d e fa u lt THE FIN AL WORD se r v Now tha its mo t the let's rtgage CFPB has tak definiti e a closervicing unveile they ve dire ser look rules, d mean at ctiv for ser es and these vicers what . Enforc assign eability be hig ments of absolu signifi hly unp in Chapte te r to juri cant varredictable 11 can sdictio iance , with n and from judge jurisdi to jud ction ge. ON SER VICING ic in g in p r in t THE AB SOLUTE TRUTH a nd onl in e @ d sn e w s. c om 0 3 .2 013 CA DIVERSEPTURING TO OPPORT DAY'S UNITIES Enterp rising transfminority-le wome orm d gro n- and the cou ing ntry markets ups are in the acr advanc ir effo oss e rec rts to overy. For from eclosure sta Americ te to timelines helpin ans diffstate affe vary g or hurting erently cting the ind . Is this ustry? ONLY TIM E RESO L BANK UTION I RUPT N CY B governmankruptcy is and seent programn't the waitin rvicers s and se g game on the sa ttlemen it used me side t terms pu to be— of struct t homeo ured pr wners ogress. Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. WILL TEL L

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