News

The Multiple Listing Services (MLS) Solutions division of Black Knight Financial Services announced that Marty Reed, the division's vice president of business operations, has been appointed to the board of directors for the Council of Multiple Listing Services (CMLS). Reed is the first MLS vendor representative to be appointed to the CMLS board.

TransUnion announced Wednesday that last quarter's mortgage delinquency rate dropped below 4 percent for the first time since 2008. The rate represents borrowers who are 60 days or more delinquent on their mortgage. The Q4 2013 rate of 3.85 percent is a 24.2 percent year-over-year change from the Q4 2012 rate of 5.08 percent.

Norcom Mortgage announced the opening of their Brookfield, Connecticut branch. The branch will be headed by James Forte, serving as Branch Manager. “We could not be more excited to have James lead this branch and expand our service into the Western part of the state."

San Francisco remains one of the most expensive housing markets in the United States, according to data released by the San Francisco Association of REALTORS (SFAR) on Tuesday. San Francisco is representative of a nationwide trend of home prices—too few single-family homes are driving up housing prices of available homes.

In prepared remarks for the House Financial Services Committee, newly installed Fed chair Janet Yellen echoed much of what analysts have seen in recent Federal Open Market Committee (FOMC) statements, with references to a recovering (but still weakened) labor market, a slowing housing market, restrictive fiscal policy, and the usual prediction of a “moderate” expansion in the nation’s economic activity.

Zillow Mortgage Marketplace, operated by the online real estate database Zillow, released its weekly mortgage rates Tuesday. Zillow reports that 30-year fixed mortgage rates rose slightly to 4.14 percent, reversing the previous week’s decline from 4.09 percent at this time last week. The 30-year fixed rate mortgage rose early last week before leveling off near 4.13 percent on Friday.

New housing data released by Florida Realtors shows a positive 2013 for closed and pending sales. The closed sales for existing single-family homes totaled 227,411, up 11.8 percent from 2012. Pending sales figures were also positive, up 17.6 percent compared to 2012.

USRES, a provider of management solutions for real estate assets and the parent company of RES.NET, recently unveiled enhancements to its proprietary valuations platform designed to improve quality control and compliance efforts.

The National Association of Realtors (NAR) released their latest quarterly report Tuesday, highlighting upwards trends in existing family home prices. An additional annual affordability report showed less favorable conditions for home affordability.

In a report released Monday, the Federal Housing Finance Agency (FHFA) announced Fannie Mae and Freddie Mac have reached the milestone of 3 million refinances under the Home Affordable Refinance Program (HARP)."Three million HARP refinances is an important accomplishment and represents real help to families and communities still struggling as a result of the mortgage crisis," said FHFA Director Mel Watt.