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Oklahoma rank: 19 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.1% Unemployment Rate 3.1% 5.0% year ago 2.2% 3.2% 5.1% year-over-year change -5.4% -3.9% -2.0% Top County 90+ Day Delinquency Rate AdAir COunTy Foreclosure Rate March 2013 2.6% 11.3% year ago 3.2% 8.6% year-over-year change -19.7% 31.3% Top Core-Based Statistical Area MCAleSTer, OK 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.3% 5.6% in these matters. The statutes themselves do not lend themselves to such interpretation . . . . None of the language in the statutes at issue lend to any interpretation other than providing for the rights of the parties directly effected by the mortgage of assignment," Walkley wrote. The case, Board of County Commissioners of the County of Cleveland v. Merscorp Holdings, Inc., et al, was not the first of its kind. "Courts across the country are dismissing recorder fee lawsuits, including counties in Iowa, Florida, Arkansas, Illinois, Missouri, and Kentucky," said Jason Lobo, director of corporate communications for MERS. IN THE NEWS Williams & Williams Partners with iServe on Short Sale Solution Oregon rank: 17 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.1% 3.3% 2.1% 3.5% 5.7% -1.0% 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 March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. FROM THE BENCH Oklahoma Judge Dismisses Recording Fee Suit An Oklahoma state district judge dismissed a class action recording fee suit in favor of Merscorp Holdings, Inc. that was filed on behalf of Cleveland County. The Cleveland County Board of County Commissioners filed the suit, which asked for defendants to record mortgage assignments (both past and present) and pay associated fees. The plaintiffs argued the defendants violated Oklahoma recording statutes by not recording assignments of mortgages and also contended the plaintiff suffered from the loss of fees associated with recording. The plaintiff further asserted actions of the defendants caused "unjust enrichment" at the expense of the plaintiff and claimed civil conspiracy. District Judge Lori Walkley dismissed all claims from the plaintiff and found no private right of action to enforce provisions found in the referenced statutes. "This court is not aware of any Oklahoma authority conferring a private right of action 104 8.8% year-over-year change -0.9% -5.8% -6.8% Top County 90+ Day Delinquency Rate CrOOk COunTy Foreclosure Rate March 2013 2.2% 6.8% year ago 2.5% 7.6% year-over-year change -8.8% -10.3% Top Core-Based Statistical Area Prineville, Or 90+ Day Delinquency Rate Foreclosure Rate March 2013 2.2% 6.8% year ago year-over-year change 31.8% 8.2% year ago year ago 1.8% Unemployment Rate Williams & Williams, a real estate auction company, teamed up with distressed asset management company iServe Default Management Solutions to bring an end-toend short sale solution to the market. The partnership combines Tulsa-based Williams & Williams' expertise in recovering high market values on assets through the auction process with iServe's customer-centric staff, which will handle the needs of borrowers and lenders throughout the pre-foreclosure process. "The mortgage industry is continuously looking for innovative, well-designed preforeclosure solutions to address a borrower's immediate circumstances, while ensuring long-term stability for their organization and investor returns," said Louis Amaya, CEO and president of iServe. "Our collaborative effort with Williams & Williams enables us to offer lenders a complete front- to back-end remedy with the convenience of a single point of contact." The new short sale solution is available to lenders in all 50 states. "No one in the real estate industry wants to see more foreclosures," said Elsa Lewis, EVP of default disposition solutions for Williams & Williams. "At the same time, it is in everyone's best interest to provide relief to all parties and ensure the market is supported from a value perspective. Our partnership with iServe ensures the needs of lenders and borrowers are well handled by risk management professionals on the front end and the marketing and sale of each property is handled by experts on the back end." 2.5% 7.6% year-over-year change -8.8% -10.3% 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 March 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary March 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS Greystone Originates $43M for 4 Multifamily Properties Greystone, a national provider of multifamily and healthcare mortgage loans, originated more than $43 million in loans for four properties. One of the loans received refinancing for a second time, which further reduced the borrower's interest rate by 120 basis points. The loan was for a 179-unit senior living community located in Portland, Oregon. The loan was refinanced for $15.2 million. "As the largest multifamily lender of HUD insured loans, Greystone provides loans in markets nationwide varying in size and scope," said Betsy Vartanian, head of Greystone's FHA business. "We are very dedicated to finding the optimal financing structure to meet our client's needs and objectives." Vartanian continued, "Even though all four loans faced significant prepayment penalties, refinancing still made sense as interest

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