Articles Tagged with ''Wisconsin''

Jobless Claims Reach 26-Year High

First-time applications for state unemployment benefits surged 35,000 to a seasonally-adjusted 626,000 in the week ending Jan. 31, the Labor Department said Thursday, posting a 26-year high.
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Tech Roundup: New REO Tech, Birthdays, and More

Mortgagebot, Byte Software announce alliance: Partnerships have become increasingly common in the changing mortgage marketplace, as tech providers realize there is strength in numbers -- and in co-marketing agreements. Mequon, Wis.-based Mortgagebot LLC and Kirkland, Wash.-based Byte Software are the latest two tech providers to announce a marketing alliance that will see Byte recommend Mortgagebot's point-of-sale applications to customers.
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Wisconsin: No More Money, No More Loans

The national credit crisis strikes again; Wisconsin's affordable-housing agency stopped making loans Thursday, because of its inability to raise the money to fund mortgages, reported the Chicago Tribune. The Wisconsin Housing and Economic Development Authority was created in 1972 to offer loans to first-time homebuyers with moderate incomes.
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FiServ Rolls Out Case-Shiller Updates

Brookfield, Wis.-based Fiserv, Inc. [stock FISV][/stock] said late Tuesday that it had decided to roll out its own monthly updates to the nearly ubiquitous Case-Shiller indices it already supplies to Standard & Poor's; the company said in a press statement that its own Case-Shiller updates will include data covering more than more than 375 U.S. housing markets. The company's S&P/Case-Shiller distribution agreement includes 20 major MSAs, in comparison.
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Fannie Touts Flood Relief, Makes Donation to Red Cross

As expected, Fannie Mae [stock FNM][/stock] said Tuesday that it has put mortgage relief provisions in place for borrowers facing hardships as a result of the floods that began June 6 and have caused widespread destruction and damage throughout several Midwestern states, including Iowa, Indiana and Wisconsin. The announcement comes after a similar program was rolled out at sister GSE Freddie Mac [stock FRE][/stock] on Monday.
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Partnership Between LOS Providers Underscores New Origination Reality

The industry downturn has had a curious effect on some of the nation's largest origination technology providers -- once comfortable to operate on a separate, stand-alone basis, many LOS platforms are now finding comfort in banding together with other, similar technology providers in an effort to lock down what business yet remains in the decimated origination space. Partnerships have become a near-daily occurrence in a side of the industry that once was so large that it even fostered its own technology-centric magazine.
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In Milwaukee, A Foreclosure Glut

Via Marie Rohde and Ben Poston at the Milwaukee Journal Sentinel, a look at just how much foreclosure activity has impacted the local real estate market: After a record year for foreclosures, a stunning 1,000 Milwaukee County properties already have been scheduled for sheriff's sales in the first nine weeks of 2008, with a record 200 put up for sale in just one day earlier this month, records show.
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MGIC, Radian to Merge

Consolidation in the mortgage industry struck a new tone Tuesday, as monoline insurers MGIC Investment Corporation and Radian Group Inc. announced that the two companies have agreed to merge, in a $10 billion deal that will form one of the nation's largest mortgage and credit risk insurance conglomerates. The new company, to be called MGIC Radian Financial Group Inc., will have nearly $15 billion in total assets, more than $290 billion of primary mortgage insurance in force and a financial guaranty portfolio approximating $104 billion of net par outstanding.
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