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» In 2012, Fifth Third Bank of Cincinnati, Ohio, was the first bank in the nation to work with NextJob on implementing this innovative reemployment training program. Borrowers who participated in that initial pilot program had been out of work for approximately 22 months. After completing the program training, almost 40 percent of participants were fully employed within six months. Because of this success, Fifth Third expanded the program bank-wide in February 2013. According to John Courtney, NextJob president, "Job loss remains one of the top issues in our economy and is responsible for half of mortgage defaults, which are the number one debts in America. Our reemployment program is a natural opportunity to make an impact in alleviating this problem." Courtney explained, "We developed this idea four years ago, and conducted a pilot program two years ago. We now have three banks participating and by December, we will have four. "He said that momentum is accelerating for this remedial program as more banks and lending institutions learn about it. NexTitle Expands Footprint with New Oregon Office NexTitle, a full-service title and escrow firm based in Bellevue, Washington, announced plans to expand its operations with a new office in Lake Oswego, Oregon. "An office in Lake Oswego financial corridor was the logical next step in the Oregon market to provide additional convenience to our clients along with our Portland downtown and Salem locations," said Ray Lewandowski, VP of sales and marketing at NexTitle. With plans to continue expanding in the Pacific Northwest, NexTitle intends to grow the new Oswego office to more than 30 employees and make it the firm's flagship office in Oregon. In addition, NexTitle announced it was selected from a field of finalists in the title and escrow sector to receive the 2013 Business and Humanitarian Award for Outstanding Title and Escrow Company presented by the Washington Association of Mortgage Professionals (WAMP), a nonprofit professional trade group dedicated to the advancement of independent mortgage professionals. This is the second consecutive year NexTitle has received the prestigious honor. WAMP's Business and Humanitarian Awards recognize companies and professionals in the real estate and mortgage lending industries who excel in their craft. Candidates undergo a selection process conducted by WAMP's senior awards committee and are evaluated on their innovativeness and humanitarian leadership. Lewandowski said the firm was "extremely honored" to be presented the WAMP award in the category of Outstanding Title and Escrow Company for the second year in a row. "We are humbled by the caliber of each of the firms and professionals nominated," he said, "and believe back-to-back wins validates that all the hard work we are doing to set ourselves apart and the innovation we are bringing to the industry is being recognized." KNOW THIS Oregon was home to just 2,794 completed foreclosures during the 12 months ending October 2013, CoreLogic reports. Utah rank: 36 90+ Day Delinquency Rate Foreclosure Rate october 2013 2.2% Unemployment Rate 1.1% 4.6% year ago 2.9% 1.6% 5.5% year-over-year change -23.9% -30.6% -16.4% Top County 90+ Day Delinquency Rate carbon coUnty Foreclosure Rate october 2013 2.1% 2.4% year ago 2.4% 1.5% year-over-year change -11.7% 65.5% Top Core-Based Statistical Area Price, Ut 90+ Day Delinquency Rate Foreclosure Rate october 2013 2.1% 2.4% year ago 2.4% 1.5% year-over-year change -11.7% 65.5% 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. VISIT US ONLINE @ DSNEWS.COM IN THE NEWS Castle & Cooke Penalized for Steering Consumers to Costlier Mortgages The Consumer Financial Protection Bureau (CFPB) investigated Castle & Cooke Mortgage, LLC, and subsequently announced an enforcement action and proposed consent order. Castle & Cooke allegedly steered consumers into mortgages that were unnecessarily costly and paid loan officers illegal quarterly bonuses based on the interest rate of the loans they offered to borrowers, according to the CFPB. This case was referred to the CFPB by investigators with the Utah Department of Commerce, Division of Real Estate. On July 23, 2013, the CFPB filed a complaint in federal district court against the mortgage company and two of its officers—Matthew A. Pineda, president; and Buck L. Hawkins, SVP of capital markets. Their actions were deemed a clear violation of the Federal Reserve Board's Loan Originator Compensation Rule that bans compensation based on loan terms such as the interest rate. The rule had a mandatory compliance date of April 6, 2011, and authority over that rule transferred to the CFPB on July 21, 2011. The CFPB estimates that more than 1,100 quarterly bonuses were paid to more than 215 Castle & Cooke loan officers. Castle & Cooke, based in Salt Lake City, Utah, originated about $1.3 billion in loans in 2012. The company maintains 45 branches and does business in 22 states. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB has the authority to take action against institutions for violations of federal consumer financial protection laws. As a result of the investigation, the defendants have agreed to: • End illegal compensation practices based on the interest rates offered to consumers. • Pay $9,232,896 toward consumer redress. Any borrower who obtained a home loan from Castle & Cooke after April 6, 2011, and whose loan officer received a bonus for that loan, will be compensated. The bureau estimates more than 9,400 consumers will receive checks. 141

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