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IN THE NEWS Home Price Gains to Decelerate in Winter August marks the 18th consecutive month of rising home prices, according to FNC's Residential Price Index, indicating an indisputable recovery. However, FNC, a mortgage industry technology provider, is detecting some deceleration in the recovery and declares, "It is clear that the recovery remains uneven across the nation." On a monthly basis, prices rose 0.6 percent in August, according to FNC's composite of 100 large metropolitan areas. On a yearly basis, the increase is 5.3 percent. The monthly gain in August was smaller than the gains accrued over the two previous months. FNC's 30-market composite also posted a 0.6 percent month-over-month increase in August. San Antonio, Texas, topped the 30-market list with a 2.1 percent gain, followed by Las Vegas with a 1.8 percent gain. Charlotte, North Carolina, and New York tied for third place with a 1.5 percent price gain over the month. In all, 26 of the 30 markets posted price increases in August. The four markets where prices declined were Phoenix (-0.1 percent), Baltimore (-0.2 percent), Los Angeles (-0.4 percent), and Denver (-0.4 percent). "This softening price trend in Phoenix and Los Angeles—two of the housing market's most important barometers—emerged after a long streak of rapid price accelerations that averaged more than a 2 percent monthover-month increase," FNC stated. FNC also noted that while the Chicago market "is on the mend," it is lagging all other markets in the index in terms of price appreciation. FNC's index blends public records of residential sales prices with real-time appraisals of property and neighborhood attributes. FNC says it includes both non-distressed and distressed sales in its index but as a gauge of underlying home values, it excludes sales of foreclosed homes, which frequently carry large price discounts. The company does note in its report, though, that foreclosure sales made up 12.4 percent of home sales in August, down from 12.7 percent in July and down more than 4.5 percentage points from August of last year. Declining foreclosure filings and decreasing foreclosure inventory are two contributing factors to the recent home price gains, according to FNC. 84 FNC warns price gains may decelerate somewhat in coming months with seasonal trends. Already the sale-to-list price ratio is declining. In September, FNC reports, homes sold for 96.2 percent of their list price, down from 97.2 percent in August. CFPB Tackles Complaints in Jackson The Consumer Financial Protection Bureau (CFPB) teamed up with the city of Jackson, Mississippi to connect consumers with the CFPB to ask questions and file complaints. Jackson residents can now dial 311 to be connected with the Bureau. "Our mission at the CFPB is to make it easier for consumers to navigate the complex consumer financial markets," said Richard Cordray, director of the CFPB. We are happy to work with Mayor Lumumba to better serve the residents of Jackson." Residents who call into the non-emergency line with a question or complaint will be transferred directly to the CFPB between 7:30 a.m. and 5:30 p.m. The CFPB will screen complaints and users can follow-up on their complaints at consumerfinance.gov/ complaint. Missouri Foreclosure Rate August 2013 2.4% Mortgage Returns, a St. Louis-based provider of marketing and customer relationship management (CRM) solutions for the mortgage industry, announced the launch of its Business Analysis Report. This new report offers information on production statistics, marketing return on investment (ROI), customer retention, and loan officer performance. Using the Business Analysis Report, lenders can compare their marketing performance to that of their peers, enable sales managers to evaluate branch performance, grant marketing departments the ability to track ROI, and allow loan officers to review marketing activities and results to gauge the effectiveness of their current marketing plans. The report is part of the company's TRUE CRM concept, an educational initiative created to inform lenders on CRM solutions and results. Montana rank: 42 90+ Day Delinquency Rate Mortgage Returns Launches Analysis Report for Marketing rank: 39 Unemployment Rate 1.0% 7.2% 90+ Day Delinquency Rate Foreclosure Rate August 2013 1.2% 1.1% year ago 2.6% 1.6% 7.0% 1.3% 1.7% 2.9% -3.5% -38.2% Top County Mineral CounTy 90+ Day Delinquency Rate August 2013 2.5% 0.3% 3.3% year ago 1.8% 0.8% year-over-year change 1.1% year-over-year change 86.2% Top Core-Based statistical Area -66.1% 158.3% Top Core-Based Statistical area MexiCo, Mo KaliSpell, MT Foreclosure Rate 90+ Day Delinquency Rate August 2013 2.9% 2.2% 1.4% 1.6% year ago 2.1% 1.6% year-over-year change -24.0% Foreclosure Rate August 2013 year ago 3.9% Foreclosure Rate 2.9% year ago 90+ Day Delinquency Rate -11.7% Top County LivingsTon CounTy 90+ Day Foreclosure Delinquency Rate Rate August 2013 -32.8% 6.0% year-over-year change -36.6% 3.7% 5.3% year ago year-over-year change -5.6% Unemployment Rate 3.0% year-over-year change 1.8% 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 August 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. -15.2% -46.7% 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 August 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary August 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics.

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