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24 MOVERS & SHAKERS KEEP UP WITH WHO'S DOING WHAT AND WHO WENT WHERE Got something to share with us? Send it to Editor@DSNews.com. Improving Economy Bumps Up Mortgage Rates Signs of an improving economy boosted fixed mortgage rates in June, market reports show. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage (FRM) was 4.2 percent (0.6 point) for the week ending June 12, an increase of 6 basis points from the preceding week's report. Last year, the 30-year FRM hovered just below 4 percent. e 15-year FRM averaged 3.31 percent (0.5 point), up from 3.23 percent in the last report. e increases followed the release of the May jobs report, which showed payrolls performing more or less as expected. "Mortgage rates continued to climb for the second week in a row following the increase in 10-year Treasury yields," said Frank Nothaft, chief economist at Freddie Mac. "Also, the economy added 217,000 jobs in May, following a 282,000 surge in April and a 203,000 increase in March. Meanwhile, the unemployment rate in May held steady at 6.3 percent." In adjustable-rate mortgages (ARMs): e five-year Treasury- indexed hybrid ARM climbed 12 points for the week ending June 12 to 3.05 percent (0.4 point), while the one-year ARM remained flat at 2.4 percent (0.4 point). Reporting its own national survey results, Bankrate.com pinned the 30-year fixed at 4.34 percent and the 15-year fixed at 3.43 percent, both up 2 basis points from the prior week. e 5/1 ARM moved up slightly more, climbing 6 points to 3.37 percent. CONTINUED ON PAGE 26 Twenty-four states and Washington, D.C. saw increases in Q2 "zombie" foreclosures, according to RealtyTrac KNOW THIS Five Star Institute Assembles FORCE Advisory Board In Dallas, the Five Star Institute announced the formation of the advisory board for the Federation of REO Certified Experts (FORCE) for 2014–2015. Leading the board is newly-appointed Executive Chair Mike Prewett, who began his real estate career in 1986 working exclusively in the default management industry. Now, nearly 30 years later, he serves as president and owner of Southern REO Associates, which has closed more than 14,000 REO properties throughout Atlanta and Northern Georgia. Other panelists also join Prewett on the Advisory Board. Angela Robinson has built a reputation for herself with her on-target property valuations, keen business acumen, attention to detail, and strategic execution. She also brings to the board more than 17 years of realty experience with appraisals, property management, REO, short sales, new construction and rehab sales, and interior design. Joyce Essex has been ranked the No. 1 agent in Los Angeles from 2008–2010, having worked in the city for more than 25 years. She is also ranked in the top 1 percent of agents internationally, having sold more than $750 million in real estate since 2008. An REO marketing specialist, she helps lead the team at Essex and Harvey, which is currently ranked No. 1 in the top Coldwell Banker office in the world. Nancy Braun leads Showcase Realty in Charlotte, overseeing its various departments: luxury homes, relocation services, residential homes, investment properties, property management, and short sale and foreclosure services. Backed by 17 years of experience as a top-producing real estate broker, she attributes her success to her focus on innovation and her attention to detail. Ruben Pena is a native of San Antonio, and has been a key player in the city's real estate development over the last few decades as a Realtor for TC Austin Residential Group. Licensed since 1978, he has been actively involved in the local market, serving both residential and commercial clients. He has also collaborated with city council members in the past to identify affordable housing solutions. Tracy Bitonti has specialized in representing banks and asset management companies to sell properties recovered through the foreclosure or deed in-lieu process for the past two decades. Her business is centered on the Greater Dayton area, encompassing Montgomery, Greene, and parts of Clark, Warren, and Miami Counties. With her team, she takes enormous pride in providing fast, efficient service and smooth, solid transactions. Zachary Beschorner joins the advisory board with more than 11 years of REO experience. He has experience listing and selling for several different REO companies and has done extensive BPO work for most major firms. Working with him at Fusion Realtors in Iowa is a full-time REO staff that is responsible for managing all REO properties, along with 18 licensed agents. Assurant Names Cooper Managing Director Assurant Field Asset Services has named veteran mortgage operations executive W. Robert Cooper as Managing Director. Cooper is a 20-year veteran of CitiMortgage where he served in various positions throughout the mortgage unit. While at Citi, Cooper coordinated service delivery and managed profit and loss activities for CitiMortgage's retail mortgage channel operations group. McAlister Real Estate Hires Senior Associate McAlister Real Estate announced the addition of Brock Hudson as a Senior Associate. In his new role, Hudson will be responsible for finding opportunities in the firm's markets of Austin, Dallas/Ft. Worth, Houston, and San Antonio. Prior to his position at McAlister Real Estate, Hudson worked for Heron Valuation Group providing research support on commercial real estate trends off the Gulf Coast. RealtyBid Names New President RealtyBid.com announced that the company is naming Jenny Atchley as President. Atchley is the former manager of operations manager at RealtyBid and has been employed there since its inception 15 years ago. Atchley has worked within the national real estate auction business for more than 20 years. Isbell said she has been vital in the last 18 months as the company transitions back to private ownership. Avenue 365 Adds St. Clair to Leadership Team Pennsylvania-based Avenue 365 Lender Services announced a new appointment to its national sales team, naming mortgage veteran Linda St. Clair to the position of National Account Manager. St. Clair joins Avenue 365 from her most recent role at LenderLive, where she previously served as VP and national account manager for the company's Settlement Services Division.

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