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Mortgage servicers using income verification in loan modifications see reduced foreclosure rates

National Mortgage Professional
Feb 18, 2009

RealtyTrac and Caspio release free foreclosure widgetMortgagePress.comRealtyTrac, Caspio, Web application, foreclosures, Ari Monkarsh, David A. Milliron RealtyTrac, an online marketplace for foreclosure properties, and Caspio Inc., a provider of Web-based point-and-click platform for creating Web applications, has announced the launch of a new foreclosure Web application that features historical foreclosure activity data by state or by county and a real-time nationwide search of properties in foreclosure. The Web application is available to Caspio online media clients in an elegant search widget that allows end-users to view historical foreclosure statistics for a state or county in a specific month or in all months in a given year going back to 2005. Each months statistics will include the total number of properties that received foreclosure filings during the month, broken down by type of foreclosure filing, along with the foreclosure rate and comparison to the previous month and a year ago. Users can also enter any ZIP code nationwide to instantly view active foreclosure properties in that ZIP code from RealtyTracs database of default, auction and bank-owned real estate. "Thanks to Caspio's extensive network of clients, particularly in the online news media arena, this new Web application will significantly and instantly broaden the footprint of our foreclosure trend data," said Ari Monkarsh, vice president of business development at RealtyTrac. "Especially in this market, we believe more and more real estate consumers realize the importance of the previously hidden foreclosure market and are interested in historical foreclosure trends as well as active foreclosure properties in their community." With real estate in a downturn in most markets nationwide, the foreclosure marketplace is one of the few growing areas in real estate. More than 2.3 million properties received at least one foreclosure notice in 2008, up 81 percent from 2007, according to the RealtyTrac U.S. Foreclosure Market Report, and foreclosure activity is expected to increase into 2009. Available now for instant deployment, the foreclosure widget is free to Caspio's hundreds of media clients, most of which already utilize Caspio's data syndication services for U.S. Census Bureau data and FBI crime reports. Caspio's plug-and-play applications and data syndication widgets provide the easiest and most affordable way for online news media to add hyper-local capabilities to their Website, while offering highly relevant information to local and regional audiences. "Data syndication is a powerful capability of Caspio's on-demand Web application platform," said David A. Milliron, vice president of media services at Caspio. "This partnership enables RealtyTrac to leverage Caspio's large base of online media customers and data syndication channels to distribute its foreclosure data to millions of people." For more information, visit www.realtytrac.com or www.caspio.com.
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