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» VISIT US ONLINE @ DSNEWS.COM 79 Pennsylvania RANK: 12 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate NOVEMBER 2013 2.73% 2.90% 7.3% YEAR AGO 2.95% 3.55% 8.1% YEAR-OVER-YEAR CHANGE -7.3% -18.2% -0.8% Top County MONROE COUNTY 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 2.83% 4.25% YEAR AGO 3.24% 3.48% YEAR-OVER-YEAR CHANGE -12.7% 22.3% Top Core-Based Statistical Area EAST STROUDSBURG, PA 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 5.47% 11.60% YEAR AGO 6.02% 13.29% YEAR-OVER-YEAR CHANGE -9.1% -12.7% 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 November 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Radian Offers Training and Resources on QM Compliance "Radian Guaranty Inc.," the mortgage insurance (MI) subsidiary of Radian Group, announced the availability of additional training and resources to help lenders comply with the new Qualified Mortgage (QM) rule that went into effect on January 10. Radian's 45-minute webinars discuss how QM impacts MI and the QM-compliant product options offered by Radian including a new, lower price for borrower-paid MI. "Radian is ready with a variety of simple and QM-compliant MI options for our customers and their borrowers," said Brien McMahon, chief franchise officer for the Philadelphia-based mortgage insurer. "Our QM webinars have received tremendous feedback and we are adding more to help as- sist our customers based on popular demand." Radian also offers tools to aid with the tran- sition to QM, such as a Loan Amount Estima- tor, which gives lenders that are capping their debt-to-income ratios (DTI) at 43 percent the ability to calculate maximum loan amounts and sale prices based on the MI products selected. e Loan Amount Estimator can also be used for non-MI loans and is accessible through the company's MI rate finder app called Radian Rates, available in the App Store for iPhone and iPad and on Google Play for Android devices. Rhode Island RANK: 11 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate NOVEMBER 2013 3.87% 2.93% 9.0% YEAR AGO 4.22% 3.89% 10.0% YEAR-OVER-YEAR CHANGE -8.2% -24.5% -1.0% Top County PROVIDENCE COUNTY 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 4.78% 3.54% YEAR AGO 5.25% 4.74% YEAR-OVER-YEAR CHANGE -8.8% -25.3% Top Core-Based Statistical Area PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 4.34% 2.82% YEAR AGO 4.22% 3.89% YEAR-OVER-YEAR CHANGE 2.8% -27.5% 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 November 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Vermont RANK: 10 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate NOVEMBER 2013 1.79% 3.13% 4.4% YEAR AGO 1.78% 3.78% 5.0% YEAR-OVER-YEAR CHANGE 0.5% -17.3% -0.6% Top County GRAND ISLE COUNTY 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 2.45% 5.56% YEAR AGO 2.63% 4.69% YEAR-OVER-YEAR CHANGE -7.1% 18.6% Top Core-Based Statistical Area BENNINGTON, VT 90+ Day Foreclosure Delinquency Rate Rate NOVEMBER 2013 2.67% 4.62% YEAR AGO 2.50% 5.15% YEAR-OVER-YEAR CHANGE 6.9% -10.4% 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 November 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary November 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS MERS Judgment Upheld by Rhode Island High Court MERSCORP Holdings, Inc. has won yet another victory in a long list of lawsuits filed against the company. e company recently announced that the Rhode Island Supreme Court affirmed that Mortgage Electronic Registration Systems, Inc. (MERS) had the authority to assign a mortgage for foreclosure. e decision was first issued by a superior court's judgment in the state. e latest suit involved an invalid fore- closure sale. In Rutter v. Mortgage Electronic Registration Systems, Inc., the borrowers chal- lenged the foreclosure sale of their mortgaged property arguing, in part, that the MERS assignment was invalid, according to a state- ment issued by MERS. In a similar case, the court acknowledged that Rhode Island homeowners have stand- ing to challenge assignments of mortgages on their homes to determine and contest the foreclosing entity's authority to foreclose. at case set the precedent for the current case, and as a result the court determined that the MERS assignment was valid. e court stated the mortgage signed by the borrowers "directly listed MERS and its assignees as having the statutory power of sale, therefore permitting MERS to assign the Mortgage and permitting the assignee to foreclose," and agreed with the ruling of the trial justice that the assignment was valid and the foreclosure was proper, according to the statement. e ruling by the court affirms that MERS, as mortgagee, is the holder of legal title to the mortgage and does have the authority to make assignments and courts will continue to find the MERS assignments valid, said Janis Smith, VP for Corporate Commu- nications for MERSCORP Holdings.

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