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ยป FROM THE BENCH Oklahoma rank: 19 90+ Day Delinquency Rate Foreclosure Rate August 2013 2.1% Unemployment Rate 2.5% 5.3% year ago 2.1% 3.4% 5.3% Oregon Court Dismisses Wrongful Foreclosure Complaint Pennsylvania rank: 11 90+ Day Delinquency Rate 0.0% Top County 90+ Day Delinquency Rate Foreclosure Rate August 2013 3.2% 11.7% year ago 3.6% 8.9% year-over-year change -10.9% 31.5% Top Core-Based Statistical Area MiAMi, OK 90+ Day Delinquency Rate Foreclosure Rate August 2013 3.0% 5.2% year ago 3.1% 7.9% year-over-year change -3.0% -33.8% 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. Oregon rank: 15 90+ Day Delinquency Rate Foreclosure Rate August 2013 1.8% Unemployment Rate 2.8% 8.1% year ago 1.9% 3.6% 8.8% year-over-year change -8.3% -20.9% -8.0% Top County 90+ Day Delinquency Rate CrOOk COunTy Foreclosure Rate August 2013 2.0% 5.7% year ago 2.1% 7.1% year-over-year change -6.7% -20.3% Top Core-Based Statistical Area Prineville, Or 90+ Day Delinquency Rate Foreclosure Rate August 2013 2.0% 5.7% year ago 2.1% 7.1% year-over-year change -6.7% Unemployment Rate 3.1% 7.7% year ago 2.6% 4.0% 8.1% year-over-year change -27.6% AdAir COunTy Foreclosure Rate August 2013 2.4% year-over-year change 0.5% VISIT US ONLINE @ DSNEWS.COM -20.3% 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 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. Merscorp Holdings, Inc. announced that the U.S. District Court for the District of Oregon dismissed a wrongful foreclosure complaint seeking to set aside a completed trustee sale of the property. MERS is not a party to the action; however the plaintiff alleged the foreclosure was wrongful based in part on MERS' role in his deed of trust. In Chen v. Bank of America, N.A., Judge Owen M. Panner dismissed the complaint with prejudice and found that, in accordance with the Oregon Trust Deed Act, the plaintiff received proper notice of the sale, which barred his post-sale challenges to the foreclosure. "Although plaintiff here had sufficient time to raise any of the current challenges before the sale, he chose instead to raise such challenges after the trustee's sale and recording of the trustee's deed," Judge Panner wrote. Citing Mikityuk v. Northwest Trustee Services, the court further held that "plaintiff's challenges to the trustee's sale are barred, as plaintiff's interest in the property was 'foreclosed and terminated.'" The plaintiff asked the court's permission to amend his complaint to align his allegations with the recent Brandrup v. Recontrust and Niday v. GMAC decisions from the Oregon Supreme Court, in which the Oregon Supreme Court ruled MERS did not meet the statutory definition of trust deed "beneficiary" under Oregon law. Judge Panner denied plaintiff's request, finding "an amended complaint, however, would be futile" because Brandrup and Niday dealt with pre-sale challenges to non-judicial foreclosure sales as opposed to plaintiff's post-sale challenges, which are barred under Oregon law. "As Judge Panner made clear here, and in his Mikityuk decision, when borrowers are properly notified of the foreclosure sale of their property and they fail to stop the sale, they cannot seek to void a completed sale with allegations against MERS and its role in the borrower's trust deed," said Merscorp Holdings' VP of corporate communications, Janis Smith. -6.0% -21.1% -4.9% Top County Monroe CounTy 90+ Day Delinquency Rate August 2013 2.9% Foreclosure Rate 4.3% year ago 2.5% 4.3% year-over-year change 18.4% -1.1% Top Core-Based Statistical Area eAST STroudSBurg, PA 90+ Day Foreclosure Delinquency Rate Rate August 2013 5.0% 12.4% year ago 5.4% 14.1% year-over-year change -7.4% -12.1% 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. IN THE NEWS Global DMS Announces AMC Matching Service Global DMS, a Pennsylvania-based provider of Web-based compliant valuation management software, announced the launch of AMCmatch.com, a search engine that allows lenders, servicers, and other users of valuation products to locate and qualify the best-fit appraisal management company (AMC) for their needs. "All too often, organizations select AMCs that fail to produce quality appraisals, operate out of compliance, are financially unstable, aren't licensed in the states they do business in, and may have payment issues with appraisers, among other concerns," stated Vladimir BienAime, president and CEO of Global DMS. The company is selective about who is placed in the service. Approved AMCs listed on the site are able to facilitate online ordering, automated collateral reviews, high volume production, superior customer service, and direct integration to the GSEs' Uniform Collateral Data Portal (UCDP). Users of the site can sign up for free without contracts and any additional fees. 89