News from Montrose, Colorado from the folks at Fidelity Title, brought to by The Zappa Team

Top News
B of A sees big response to 'hardest hit' programs
MarketWatch - - Bank of America Corp. (NYSE:BAC) The bank said it has begun working with homeowners and state and federal authorities in all 18 states that qualified for the Treasury Department's Hardest Hit Fund.
FDIC: 12% of banks lacked adequate capital cushion in Q1
USA Today - - That proportion is about the same as in the October-December quarter last year, though the increase in the number of banks on the Federal Deposit Insurance Corp.'s confidential "problem" list is slowing.

Market News
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - - Mortgage applications increased 1.1 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending May 20, 2011. 
Average rate on 30-year and 15-year loans drop
Washington Post - - Fixed mortgage rates hit the lowest point of the year for the third straight week. Freddie Mac says the average rate on the 30-year loan fell to 4.60 percent from 4.61 percent.
New-home sales up, but pace remains sluggish
USA Today - - New-home sales rose 7.3% last month to a seasonally adjusted annual rate of 323,000 homes, the said Tuesday. A normal housing market would mean a pace of about 700,000 new-home sales a month.
GMAC Mortgage Signs on to States' Hardest Hit Programs
DSNews.com - - GMAC Mortgage, the mortgage subsidiary of Ally Financial based in Fort Washington, Pennsylvania, said Tuesday that the company has signed contracts with all states participating in the Treasury
Ohio, Illinois have steepest discounts on foreclosure prices
USA Today - - Foreclosure homes are selling at a 27% discount to non-distressed properties nationwide, but discounts are far larger in some states.
Florida pulls plug on rocket-docket foreclosure courts
CNN Money - - Facing a major budget shortfall, state lawmakers have opted not to renew a $6 million shot of funds for the court system to dig its way out from an avalanche of foreclosures.
Utah AG tells BofA he will enforce foreclosure laws
Salt Lake Tribune - - Attorney General Mark Shurtleff has sent a letter to Bank of America President Brian Moynihan saying his office intends to enforce a Utah foreclosure law it believes the bank is violating. The letter

Technology News
LG Revolution, 3 other smartphones land at Verizon
USA Today - - Verizon is expanding its smartphone roster in a big way, with the introduction of four new devices: LG Revolution, Xperia Play, HTC Trophy and Motorola Droid X2. The LG Revolution's claim to fame is LTE-capability, which makes it the faster device
AT&T's "New" 4G Network
CNN Money - - AT&T on Wednesday shed more light on the long-awaited 4G network it will launch this summer, naming the first cities that will get access: Dallas, Houston, Chicago, Atlanta and San Antonio.

Other News
Summary Box: Toll Brothers posts smaller 2Q loss
Yahoo! Finance - - Homebuilder Toll Brothers Inc. reported a quarterly loss of $20.8 million, or 12 cents a share, compared with a loss of $40.4 million, or 24 cents a share, a year