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STATE OF AFFAIRS: SOUTH » Corporation—earlier this year. Collectively, the four companies were subject to $15.4 million in penalties. Carrington Property Services to Manage Expanding Rental Portfolio Carrington Property Services announced it is taking over property management responsibilities on rental properties owned by the Charlotte, North Carolina-based capital management firm Gorelick Brothers Capital. Per the two companies' partnership, Carrington will manage Gorelick's rental portfolio, which is located primarily in seven major urban centers. According to a statement released, it was Carrington's experience and infrastructure that made the company stand out among all property management firms, as well as its existing management operations in several of Gorelick's expansion target markets. Renee Deane, EVP for Carrington Property Services in California, said she expects both companies to benefit from the partnership. "Understanding the growing need for a national property management solution that is both tailored to portfolio management and has the ability to manage multiple property managers, we designed Carrington Property Services to be a reliable platform for the institutional market place," Deane said. "Our partnership presents a win-win as it marries Carrington's operational expertise with Gorelick's reputation as a leading investment advisor for the housing industry." Carrington Property Services' president, Kevin Cloyd, agreed. "We are looking forward to partnering with Gorelick as they expand their portfolio over the next several years. Our partnership will assist Gorelick with meeting both their property management and financial objectives, while at the same time ensuring their tenants receive the very best of service," he said. KNOW THIS North Carolina has spent 35% of its Hardest Hit Funds to help distressed homeowners, Treasury data shows. 130 Oklahoma Tennessee rank: 20 90+ Day Delinquency Rate rank: 37 Foreclosure Rate OctOber 2013 2.2% Unemployment Rate 2.3% 5.5% 90+ Day Delinquency Rate Foreclosure Rate ocTober 2013 3.4% 1.1% year agO 2.2% 3.2% 5.2% 3.8% 1.6% 5.8% -10.0% -31.7% Top County 90+ Day Delinquency Rate Foreclosure Rate 90+ Day Delinquency Rate 7.1% 4.6% year ago 4.2% 8.9% 4.5% year-Over-year change 4.2% year-over-year change -4.9% -19.8% 2.4% Top Core-Based Statistical Area -44.4% Top Core-Based Statistical Area MiaMi, Ok Lewisburg, Tn Foreclosure Rate 90+ Day Delinquency Rate OctOber 2013 4.5% 4.8% year agO 6.4% 5.1% year-Over-year change 2.2% year-over-year change -29.7% -5.6% 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 October 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary October 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. South Carolina rank: 17 Unemployment Rate 2.6% 7.5% year ago 2.6% 2.1% year ago 3.5% 2.4% Foreclosure Rate ocTober 2013 3.3% Foreclosure Rate oCtober 2013 3.9% 8.8% -33.7% THE LEADER IN DEFAULT SERVICING NEWS -14.8% Top County hampton County 90+ Day Delinquency Rate Foreclosure Rate oCtober 2013 4.3% 6.7% year ago 4.1% 8.9% year-over-year Change 5.0% -24.6% Top Core-Based Statistical Area Dillon, SC 90+ Day Delinquency Rate Foreclosure Rate oCtober 2013 5.0% 4.7% year ago 3.5% 7.0% year-over-year Change 41.0% -33.0% 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 October 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary October 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. -3.5% 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 October 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary October 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. year-over-year Change -7.3% Foreclosure Rate 2.3% year agO 90+ Day Delinquency Rate Morgan counTy ocTober 2013 4.0% -5.8% 7.7% Top County OctOber 2013 90+ Day Delinquency Rate 7.8% year-over-year change -27.3% adair cOunty 8.4% year ago year-Over-year change -2.5% Unemployment Rate Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com.