Tight lending standards may be keeping some prospective borrowers out of the market, but according to LendingTree, consumers overall are increasing their likelihood of getting approved for a home loan with higher credit scores and lower loan-to-value (LTV) ratios. Over the last year, average credit scores for prospective borrowers rose by more than 10 points, LendingTree revealed in a Q2 borrower health report. At the same time, average LTVs improved, falling 1.6 percent. According to the report, prospective borrowers in Washington D.C. have the strongest profile when it comes to qualifying for a home loan.

Mortgage lender Norcome Mortgage announced the opening of a new branch in Fairfield, Connecticut. Manny Gomes was selected to manage the recently opened location.

A new Illinois law will protect renters from getting forced out of a foreclosed property with short notice. Governor Pat Quinn signed a bill Wednesday that requires buyers of foreclosed residences to honor existing leases or give tenants at least 90 days to find new housing.

Matt Martin Real Estate Management, a provider of real property services to the public and private sector, ranked No. 80 on the Inc. 500/5000 list, up from 116 in 2012.

North Carolina-based law firm Brady Brady & Kosofsky, PA met the requirements to be a certified Women's Business Enterprise. The Women's Business Enterprise National Council granted the certification, which establishes the real estate law firm is woman-owned, operated, and controlled.

LRES, a provider of commercial and residential valuations and asset management for the mortgage, banking, credit union and real estate industries, opened up a new facility in Phoenix.

In July, sales of single-family homes and condominiums in Illinois reached 16,012--the highest level since August 2006, the Illinois Association of Realtors reported. The total represents a 28.5 percent increase from July 2012. The median price of a home in Illinois also shot up, increasing 14.2 percent year-over-year to $169,000, IAR reported.

After examining practices from mortgage servicers, the Consumer Financial Protection Bureau (CFPB) found servicing problems such as disorganized account transfers and loss mitigation mistakes, according to a report. The CFPB's report was based on the examination of bank and non-bank servicers from November 2012 and June 2013. When pinpointing problems with mortgage servicing transfers, the CFPB identified risks that could lead to missed payments from consumers.

The number of filings related to suspicious activity for mortgage loan fraud fell year-over-year, while mortgage fraud related to foreclosure rescue scams spiked, according to a recent report from the Financial Crimes Enforcement Network (FinCEN). Last year, mortgage loan fraud (MLF) suspicious activity report (SAR) filings decreased to 69,277, down 25 percent from 92,561. However, the number of MLF SARs related to foreclosure rescue scams increased to 4,427, up 58 percent from 2,799 in 2011.

Altisource Portfolio Solutions, a global provider of services for the real estate, mortgage, and consumer debt industries, announced plans to acquire Equator, a solutions provider for the mortgage and real estate industries. The deal is valued at $70 million on closing and includes contingent earn out consideration of up to $80 million over three years, according to the announcement. Equator will still retain its name, offices, and management team after the acquisition, which is expected to close within 30 days.