After rising for two months straight, forward-looking confidence in the U.S. real estate market fell in May, according to the latest Real Estate Confidence Index (RECI) released by Point2 Technologies. The national RECI, which tracks the market sentiments of more than 50,000 real estate professionals across the country, slipped 1.72 percent in May compared to the previous month. Primary concerns cited for the negative outlook were the end of the homebuyer tax credit, ""shadow inventory,"" and the risk of rising interest rates.

Real Estate Disposition, LLC (REDC) announced Thursday that it will auction more than 370 Northern and Southern California bank-owned foreclosures, including 76 occupied properties, over the next two weeks. The Northern California homes will be auctioned online from June 8 through June 12, and the Southern California homes will be auctioned both live and online on June 19 and June 20.

Frances Martinez Myers, a real estate and relocation industry veteran, was recently appointed as president of Employee Transfer Corporation, a Philadelphia-based company that facilitates the moves of corporate employees throughout the world and provides foreclosure asset management services, doing business as (dba) ETCREO.

After raising $1.75 billion of investment capital, Cornerstone Real Estate Advisers LLC, a Hartford, Connecticut-based real estate investment manager, has closed the Cornerstone Core Mortgage Fund I LP, which invests in low-leverage core mortgages secured by properties with quality ownership and sustainable cash flows.

Zone Data Systems, with 233 member appraisal companies in 25 states that employ more than 500 appraisers, recently announced that it has joined forces with Bradford Technologies, Inc., in order to provide clients with the new Collateral Valuation Report (CVR). The company says the CVR is an innovative, Uniform Standards of Professional Appraisal Practice-compliant appraisal product that incorporates regression analysis performed by the appraiser to support the value conclusion.

Grubb & Ellis Company, a commercial real estate services and investment firm based in Santa Ana, California, recently announced that it has launched a national appraisal and valuation business through a reinvigoration of its Landauer brand. The company, Grubb & Ellis Landauer Appraisal & Valuation, is focused on having a presence in every key market by the end of year and will be run by industry veterans, Douglas Haney and Eduardo Alegre.

In an effort to help lenders identify undisclosed debt during the underwriting process and stay in compliance with Fannie Mae's updated policy regarding borrower liabilities, Equifax Inc. has launched a new mortgage solution--Undisclosed Debt Monitoring. According to the company, this new tool is the mortgage industry's first platform to monitor for and notify financial institutions of new accounts and borrower activity initiated during the ""quiet period,"" which spans from the mortgage application date to the loan closing date - a historical blind spot for lenders.

In order to meet the growing demand for commercial/multifamily loan products, AmVest Capital, LLC, a Charleston, South-Carolina-based provider of financial services and solutions to community and regional banks nationwide, has teamed up with Arbor Commercial Mortgage, a New York-based national direct lender. Through this new partnership, AmVest will now offer a complete line of Fannie Mae Delegated Underwriting & Servicing products to its group of more than 100 banks across the nation.

In an effort to help every qualified Mississippian own a home, the Mississippi Development Authority is overseeing a limited-time grant program. Authorized through HUD, the ""Home Buyer Advantage"" program provides one-time downpayment assistance grants ranging from $14,999 to $39,999 to individuals buying foreclosed property as a primary residence in Mississippi.

Bank of America has become the largest mortgage servicer to join HOPE LoanPort, the new Web-based housing counselor tool that streamlines submission of completed loan modification applications. As part of its participation agreement, the bank has committed to use HOPE LoanPort's proprietary technology to partner with nonprofit housing counselors to assist homeowners with loan modifications. Larry Gilmore, CEO of HOPE LoanPort, said this is a significant development in the evolution of HOPE LoanPort, with far reaching implications.