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investment in NewOak Capital will create good paying jobs with good benefits—and help us expand an important industry in the state . . . . This is great news for Danbury and the region." NewOak's presence in Danbury is expected to create up to 100 new jobs within three years. "Due to the sea change of regulations and transparency requirements by investors, the mortgage and related securitizations industry is undergoing an enormous transformation," D'Vari said. "This creates a critical need for independent advisory firms such as NewOak to develop effective new credit and risk solutions and services that combined highly skilled credit professionals, well-designed processes, advanced technology, and massive amounts of data." "We look forward to developing and training new professionals, including recruiting new graduates from the many fine schools and universities throughout the region," Frischling added. "We believe Connecticut is the right place for NewOak to expand its financial services platform and we're excited to prove that Connecticut was right for believing in us." Delaware rank: 18 90+ Day Delinquency Rate Foreclosure Rate March 2013 3.7% Unemployment Rate 3.3% 7.3% year ago 3.5% 3.4% 7.0% year-over-year change 7.1% -2.4% 4.3% Top County KenT CounTy 90+ Day Delinquency Rate Foreclosure Rate March 2013 5.3% 4.2% year ago 4.6% 4.2% year-over-year change 14.1% -0.0% Top Core-Based Statistical Area Dover, De 90+ Day Delinquency Rate Foreclosure Rate March 2013 5.3% 4.2% year ago 4.6% 4.2% year-over-year change 14.1% -0.0% 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. 82 IN THE NEWS Former Delaware Bank Exec Pleads Guilty to Bank Fraud A former senior bank official of a Delaware bank that received government funds pleaded guilty to bank conspiracy fraud, according to a joint announcement from the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and the U.S. Department of Justice. Joseph Terranova once served as a VP and division manager for the commercial real estate division of Wilmington Trust Company, which was a recipient of TARP bailout money. According to federal officials, Terranova extended credit to Wilmington customers under terms that were not consistent with standards approved by the bank's loan committee. He also attempted to hide the financial condition of the bank, partly by providing new loans to clients so they could keep existing loans current. He also misrepresented the bank's past-due and nonperforming loans in reports. Terranova faces a maximum penalty of five years in jail and a $250,000 fine. "The bank was a Delaware institution, and its demise came at significant cost, economically and emotionally, to the citizens of this state," commented Charles M. Oberly, U.S. attorney for the district of Delaware. "We hope that in bringing these charges and securing a conviction, others will be deterred from engaging in similar conduct." Long & Foster Merges with Delaware Realty Long & Foster Real Estate, Inc., grew its presence in the Delaware market after merging with Delaware Realty, a company located in Lewes that specializes in residential and commercial real estate for southern Delaware's Sussex County. As part of the deal, Delaware Realty now operates under the Long & Foster brand. Leading Delaware Realty is Dick Bryan, an industry veteran with nearly 30 years' experience in commercial and residential real estate sales and connections within the real estate circles of Sussex County. He will serve as an associate broker of Long & Foster and will continue to work out of the Lewes office. "As part of our goal to become Delaware consumers' first choice in real estate, from Brandywine to the beaches, I could not be more pleased to welcome Dick Bryan and Delaware Realty to the Long & Foster family," said Gary Scott, president of real estate for Long & Foster. "Together, we will ensure that our combined real estate forces will continue to uphold the strong tradition that has allowed this company to grow, prosper, and serve many throughout Sussex County." STAT INSIGHT 48% Annual increase in Delaware's REO sales in 2012. Source: RealtyTrac District of Columbia rank: 29 90+ Day Delinquency Rate 3.4% Foreclosure Rate March 2013 Unemployment Rate 2.4% 8.5% year ago 3.0% 2.9% 9.2% year-over-year change 10.5% -16.8% -7.6% Top County DisTriCT of Columbia 90+ Day Foreclosure Delinquency Rate Rate March 2013 3.4% 2.4% year ago 3.0% 2.9% year-over-year change 10.5% -16.8% Top Core-based statistical area WashingTon-arlingTon-alexanDria, DC-Va-mD-WV 90+ Day Foreclosure Delinquency Rate Rate March 2013 3.0% 2.2% year ago 1.6% 1.5% year-over-year change 88.6% 43.8% 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.

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