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» VISIT US ONLINE @ DSNEWS.COM 91 Overall flip sales in 2013 were slightly lower than they were in 2012, but remain in the range of 1,400 to 1,600 sales per month, where they've hovered since August. Despite what appear to be ups and downs in a stressed market, PropertyRadar founder and CEO Sean O'Toole was optimistic about his firm's findings. "With the recent rapid price increases, slow down in sales, rising rates, and increasing inventories, I'm predict- ing that the median price in California will remain relatively flat in 2014, perhaps plus or minus 5 percent," O'Toole said. DocMagic Addresses Compliance Woes Related to ECOA Valuation Rule DocMagic, Inc., a provider of loan docu- ment preparation, compliance, eSign, and eDelivery solutions for the mortgage industry, says it has a variety of solutions available that support lenders' compliance with the ECOA Valuation Rule, no matter what the lender's business rules are. Under the ECOA Valuation Rule, a creditor must provide an applicant with a copy of the appraisal and other written valuations "upon completion, or three business days prior to consummation of the transaction, which- ever is earlier." is means the lender must prove that in fact, the delivery of the appraisal occurred within the prescribed time require- ments. If the appraisal is revised, then a new appraisal must be sent to the borrower. e appraisal or written valuation must automati- cally be provided, regardless of whether credit is extended, denied, incomplete, or withdrawn. "DocMagic has solutions ready today that will keep lenders compliant with the ECOA Rule," said Dominic Iannitti, president and CEO of DocMagic. "With DocMagic, a lender can ensure that it delivers (or redeliver) the appraisal or written valuation to bor- rowers, complete with tracking, eSignature options, and fulfillment to ensure compliance and be able to prove to anyone that needs to know, that the appraisal was delivered to the borrower on time." Founded in 1988 and headquartered in Torrance, California, DocMagic develops software, mobile apps, processes, and Web- based systems for the production and delivery of compliant loan document packages. DocMagic guarantees and warrants that all agency forms are up to date and in compliance with GSE requirements. e company says its compliance experts and in- house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. California AG Busts Statewide, Multi- Million Dollar Housing Scheme California officials arrested five individuals who allegedly ran a statewide housing scheme involving the fraudulent seizure of at least 23 homes in nine counties. Sandra Elaine Barton, 30; Christopher Spencer Barton, 31; Daniel Paul Vedenoff, 29; Sheldon W. Feigel, 50; and Craig Merrill Mortensen, 60, were charged with 288 felony counts including perjury, filing false court re- cords, and preparing false evidence. Cambria Lisa Barton, 21, remains at large. All of the defendants were booked into the Fresno County Jail on Wednesday, with bails ranging from $27,500 to $1,795,000. ey face restitution payments of at least $3.5 million. According to the attorney general's complaint, the Barton family, along with Vedenoff, who is Sandra Barton's boy- friend, allegedly worked with two lawyers, Mortensen and Feigel, to identify abandoned residential properties and file for adverse possession of the properties in court in order to obtain the titles and acquire the homes for resell or rental. "It is reprehensible that these individuals lied to the courts in order to steal homes and in some cases to demand payment from the rightful owners," Attorney General Kamala Harris said. "e conduct of the attorneys in this scheme is even more offensive because they violated their ethical duty to be honest to the courts." Under California law (Code of Civil Pro- cedure 325), an individual can claim adverse possession of real property if he or she has oc- cupied or claimed it continuously for at least five years and paid property taxes for that period of time, among other requirements. According to the attorney general's filing, since 2006, Barton family members and their attorneys allegedly provided "factually impos- sible" and "knowingly fraudulent" evidence and statements in court under penalty of perjury in order to take possession of at least 23 residential properties in the counties of Fresno, Kern, Los Angeles, Madera, Merced, Santa Barbara, San Mateo, Sonoma, and Tulare. Orasee Russell Real Estate Broker Russell Real Estate Development Co. 879 W. 190 th Street Suite 400 Gardena, CA 90248 Phone 310-357-1175 Fax 310-602-6403 orasee@gmail.com RESIDENTIAL & COMMERCIAL REAL ESTATE SERVICES Services Provided » Asset Management » Credit Repair » First Time Buyer Programs » Foreclosure Prevention » Foreclosure Lists » Free Home Value Analysis » Hard Money Lending » Investor Grade Properties » Listing Services » REO Services » Short Sale Services WWW.REALTORUSSELL.COM BRE# 01273801