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VISIT US ONLINE @ DSNEWS.COM IN THE NEWS NCUA Comments on Kansas Ruling over Securities Lawsuits denied most motions from defendants to dis- miss lawsuits brought by the National Credit Union Administration (NCUA) to recover losses from mortgage-backed securities (MBS) purchased by the now defunct U.S. Central Federal Credit Union (FCU). Debbie Matz, chairman of NCUA's The Federal District Court in Kansas board, commented on the decision, stating, "NCUA is pleased that the court recognized the central merits of our complaints and allowed the cases to move forward. The Wall Street firms that created and sold these secu- rities materially misrepresented the inherent level of risks to investors." Matz says NCUA will "vigorously pursue" these lawsuits, and others filed previously. NCUA filed two lawsuits against RBS Securities, Wachovia, and nine others over MBS FCU bought. The suits allege the de- fendants violated federal and state securities laws and misrepresented the risks of the se- curities to the credit union. The federal court granted some of the defendants' motions to dismiss, resulting in 80 percent of the claims moving forward. NCUA has filed similar lawsuits against J.P. Morgan Securities and Goldman Sachs, and has already settled claims of about $170.75 million with Citigroup, Deutsche Bank Securities, and HSBC. STAT INSIGHT 3,021 Kansas during the 12 months ended in June. foreclosures in Completed Source: CoreLogic Kentucky rank: 22 90+ Day 2.49% 2.40% 3.54% 90+ Day 2.30% year ago 2.85% percent point change -19.27% 14.03% Top Core-Based Statistical Area HUNTINGTON-ASHLAND, WV-KY-OH 90+ Day 2.60% year ago 2.60% percent point change -0.19% 14.96% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 2.91% 3.58% 3.63% percent point change -4.66% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Delinquency Rate june 2012 4.11% 3.73% year ago 4.39% Foreclosure Rate 4.43% 6.99% 5.51% percent point change -5.41% Top Core-Based Statistical Area NEW ORLEANS-METAIRIE-KENNER, LA 90+ Day Delinquency Rate june 2012 4.18% Foreclosure Rate Delinquency Rate Foreclosure Rate june 2012 3.27% year ago 3.25% percent point change 0.49% Top County BATH COUNTY Delinquency Rate june 2012 7.96% 5.76% year ago 8.12% Foreclosure Rate 90+ Day Unemployment Rate 8.2% 9.6% -14.6% Louisiana rank: 21 90+ Day 3.45% 3.40% 1.40% Delinquency Rate Foreclosure Rate june 2012 3.29% year ago 3.44% percent point change -4.35% Top County ST. BERNARD PARISH Delinquency Rate june 2012 7.68% Unemployment Rate 7.5% 7.3% 2.7% Foreclosure Rate PRISM TITLE & CLOSING SERVICES National REO Title & Closing Company IN THE NEWS MCS Opens New Location in Louisiana Experience the PRISM Advantage! ~ Conducts Business with Respect for Everyone at All Times ~ ~ Efficiency, Speed, Accuracy, Accountability ~ ~ Consistently Surpasses Industry Timelines ~ ~ Tailors Services to Client Needs ~ ~ Proactive Communication ~ PRISM Title & Closing Services Angi Schuerman Business Relationship Manager Office: 859-344-2822 Cell: 513-382-6567 Angi.Schuerman@PRISMClosings.com www.PRISMClosings.com (MCS) announced the opening of a new location in Ruston, Louisiana. The 10,300-square-foot facility is MCS' third site. "We are very excited about the location Mortgage Contracting Services LLC of a new MCS business center in Ruston," said Mayor Dan Hollingsworth. "We have enjoyed the opportunity to work with MCS CEO Caroline Reaves and her staff toward this objective. MCS is a high-quality com- pany and will be a centerpiece in our efforts to provide quality jobs in the future." MCS will add approximately 90 jobs over Now offering REO title & closing services NATIONWIDE Regional In-House Footprint: Ohio, Kentucky, Indiana, Michigan, Minnesota and Florida Member of the Gerner Law Family of Companies www.GernerLaw.com the next few years in support of the local economy. The company is offering both full- and part-time positions, with evening shifts available starting in September. MCS, which also has offices in Florida and Texas, performs property inspections, property preservation, and REO property maintenance services throughout the United States and its outlying territories. 121