The recent softening of economic activity will not stop the country's housing market recovery, Capital Economics said in a report Wednesday. The US Housing Market Analyst for Q2 2012 speculated that modest recovery in the housing market will not only continue for the rest of the year, it will spread and cause an increase in house prices. With the modest upturn in home sales going on, Capital Economics revised its house price forecast to show gains of 2 percent in 2012 and 5 percent in 2013.

The Enterprise's report, released Tuesday, showed that newly formed households seem more interested in renting over owning as the economy struggles to get back on its feet. The report showed that over the year ending March 2012, an additional 1.5 million households moved into rental housing, a 4 percent increase in a year. The Census Bureau has also reported that rental vacancy rates in buildings with at least five apartments have dropped more than two percentage points over the past two years. In addition, both Reis and Axiometrics have reported increases in occupancy rates during the two years through the first quarter of 2012.

On behalf of the FDIC, DebtX is going to sell more than $358 million of participations, loans, and leases from the Tennessee Commerce Bank receivership, the company announced Wednesday. The portfolio includes $46.5 million of performing non-lead loan participations and $311.

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., announced Thursday the addition of Kim Hollingsworth to the company's sales team.

Carrington Property Services, LLC announced the promotion of Renee Deane to EVP of operations.

California Attorney General Kamala Harris announced Tuesday that the Assembly Public Safety Committee passed a piece of the California Homeowner Bill of Rights designed to protect the state's homeowners from scams.

The revised figures for economic growth in the year's first quarter were disappointing, but Fannie Mae's Economic & Strategic Research Group is still forecasting moderate growth for the remainder of 2012. A report released by the group Tuesday projected 2.2 percent growth for all of 2012. Several factors presented risks to the economic outlook, including a slowing trend in job growth, potential contagion in the euro zone from Greece's financial issues, the slowing Chinese economy, and the potential of a fiscal drag in the United States. Consumer attitudes also influence the economic outlook.

For the fourth consecutive month, the RE/MAX National Housing Report found an overall increase in median home price across the country. In May, the national median home price was $166,500, a 6.1 percent increase year-over-year and a 4.1 increase month-over-month. Of the 53 metros surveyed, a record 46 showed rises in median home price, with nine seeing double-digit increases. Closed transactions across the United States also rose in May, with markets showing an overall increase of 12.6 percent from April and 12.8 percent from May 2011. May 2012 marked the 11th straight month of year-over-year home sales gains.

As of June 14, Doreen Hoffman, managing partner of Trott Recovery Services, PLLC (TRS) will sit on the board of the Michigan Association of Collection Agencies (MACA).

The Southlake, Texas-based Orion Financial Group, Inc., announced Monday a nearly 30 percent increase in the number of transactions performed for lenders, servicers, and investors.