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» INSTITUTIONAL INVESTORS MIGRATE IN SECOND HALF OF 2012 Radar Logic reports a seasonal price dip in January but a 12.7 percent increase year-over-year. The firm continues to find heavy investor influence in many markets, though investor activity may be shifting somewhat into new markets. Radar Logic's RPX Composite Index, which measures prices in 25 metros, posted a 2 percent decline in January with prices still 31 percent below their June 2007 peak. "We continue to expect housing markets to exhibit greater than normal volatility," the firm stated in its most recent report. Institutional investors are playing an active role in many markets but appear to be shifting out of some markets where they were previously major players and into smaller markets that have been largely ignored by the group. For example, after increasing their purchases by 88 percent during the first half of 2012 in Phoenix, institutional investors largely abandoned the market in the second half of the year. Radar Logic suggests the exodus from Phoenix resulted from depleted REO inventories and rising prices—consequences of the flood of investor purchases in the first part of the year. With Phoenix no longer as desirable a market, institutional investors turned to Miami, Los Angeles, and Atlanta—three previously hard-hit markets now experiencing an influx of investor demand. New York and Chicago also experienced rising investor demand in the second half of last year with increases of 61 percent and 85 percent, respectively. A few smaller markets reported climbing investor demand in the second half of the year as well. While the number of homes purchased in these markets may not yet rival some larger markets, the percentage increase in investor demand was notable. Charlotte, North Carolina, experienced a 628 percent increase in investor purchases in the second half of 2012. Sacramento, California, recorded a 101 percent increase, and Tampa, Florida, saw a lesser but still notable 76 percent increase. MOVERS & SHAKERS VISIT US ONLINE @ DSNEWS.COM CONTINUED FROM PAGE 36 Nationwide Title Clearing Promotes Former VP to COO Nationwide Title Clearing (NTC) announced the promotion of longtime employee Michael O'Connell to COO. O'Connell, who has been with NTC for eight years, was previously VP of client relations. As COO, he oversees the daily operation of NTC's delivery divisions and the client relations, finance, and research divisions as well as overall quality control. LenderLive Announces Two Executive Hires LenderLive Network Inc., an end-to-end mortgage services provider, hired two industry veterans for executive positions. Kevin Kelley, who holds more than 27 years' industry experience, joins LenderLive as SVP of operations for the document services unit. Kelley will oversee the regional divisions of the document services operational teams. Before joining LenderLive, Kelley was the managing director of Mortgage Financial Solutions of Xerox Corp. Leon Niedzwiecki, a mortgage industry professional with more than 20 years' experience, was appointed director of review services. In his new role as director, Niedzwiecki is responsible for managing the due diligence and quality control service offerings. He also manages the expansion and development of those offerings in credit, compliance, valuation, servicing, and quality control reviews. Mid-South Commercial Law Elects Sirote & Permutt Shareholder to Board The Mid-South Commercial Law Institute elected Donald M. Wright, shareholder at Sirote & Permutt, to serve on its board for a five-year term. He is the first individual elected to the board who is not a lawyer or judge based in Tennessee. Wright currently chairs the consumer bankruptcy department at Sirote & Permutt, which has offices in Alabama and Florida. Long & Foster Associates Receive Industry Recognition Two Long & Foster Real Estate, Inc., sales associates were named to REALTOR magazine's "30 Under 30" list for 2013. Danai E. Mattison and Barak J. Sky, both associates at a Long & Foster office in Bethesda, Maryland, were honored by the publication. Mattison, who is 25 years old, recorded an individual sales volume of $17.1 million in 2012. As the daughter of Dale Mattison, a long-time top producer at Long & Foster, she has been exposed to the real estate industry her entire life. Sky, who is 26 years old, achieved an individual sales volume of $14 million in 2012. Sky gained exposure to the real estate business through his mother, Chana Sky, who is also a topproducing Long & Foster sales associate. In addition, veteran sales associate Betty Plashal earned Realtor Emeritus status from the National Association of Realtors (NAR). Plashal started her career with Long & Foster shortly after its formation and represents the company as an agent in its Sterling, Virginia, location. Plashal became eligible for NAR's Emeritus designation after 40 years of service to the real estate community. Through the course of her career, she has sold or listed more than 3,500 properties. VERBOSITY "What I want to know is why, since the 1800s, have there been agencies all over Washington with a single director, including the OCC, but unlike the consumer agency, no one in the U.S. Senate has held up confirmation of their directors demanding that the agency be redesigned? . . . I see nothing here but a filibuster against Director Cordray as an attempt to weaken the consumer agency." — Sen. Elizabeth Warren (D-Massachusetts) at a committee hearing on Richard Cordray's re-nomination on March 12 39

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