For the first time, the U.S. Mortgage Insurance (USMI) unit of Genworth Financial is offering a relocation product with discounted mortgage insurance premiums to help credit unions target populations that tend to be in transition often such as those in the military. The discounted mortgage insurance rate will be available for applications received on or after March 26, 2012.

Investors are making it a practice to endure through obstacles that come with the discounted price of short sales and pursued them at a greater pace in February compared to previous months, according to the latest results of the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. The percentage of investors buying homes climbed from 20.9 percent of all transactions in September 2011 to 24.2 percent in February 2012, according to the survey. The investor share of short sales also rose, going from 25.9 percent to 30.6 percent during the same six-month period.

To help mortgage lenders stay current on state and federal regulatory changes, Wolters Kluwer Financial Services announced the enhancement of its StateLink compliance research tool. StateLink is part of Wolters Kluwer Financial Services’ suite of residential lending solutions that includes document preparation and e-delivery software; compliance analytics; settlement services; and more.

Two banks closed over the weekend, raising the national tally of failed FDIC-insured banks to 15 so far this year. Regulators closed Covenant Bank and Trust of Rock Spring, Georgia and Premier Bank of Wilmette, Illinois.

NPR reported Friday that Fannie Mae and Freddie Mac might consider principal reduction as a means to help underwater homeowners. Edward DeMarco, acting director of the FHFA, has stood firm in his decision to not allow for principal reduction, despite mounting criticism from Democrats and petitioning from organizations to have DeMarco fired. ""NPR and ProPublica have learned that both firms have concluded that giving homeowners a big break on their mortgages would make good financial sense in many cases,"" NPR stated in its story.

Dallas-based mortgage lender AmericaHomeKey (AHK) can no longer do business with the FHA due to repeat violations of FHA requirements, HUD's Mortgagee Review Board (MRB) announced its Friday. AHK can no longer originate and underwrite new mortgages insured by the FHA, and the MRB is imposing $268,000 in penalties.

The Asian Real Estate Association of America: (AREAA) recently launched AREAA Net, an international networking platform to connect members with 400,000 real estate professionals from over 100 countries, according to a release from the association.

A former Fannie Mae VP of single-family strategic initiatives joined Veros Real Estate Solutions as SVP of strategic initiatives. Charles Rumfola was selected for the position and will manage numerous initiatives for Veros in the secondary markets. Rumfola, who joined Fannie Mae in 1992, will be based out of Wasington D.C.

In select hard-hit markets, Bank of America is introducing a program that will give some of its customers who are facing foreclosure the option to remain in their homes as a tenant rather than as a homeowner. The Charlotte, North Carolina based-bank made the announcement Thursday in a release. The program, called Mortgage to Lease, will solicit fewer than 1,000 customers who qualify; there will not be opportunities to volunteer or apply for the program.

Real estate blogger Jay Thompson is joining Zillow as the director of industry outreach and social media. Thompson brings nearly seven years of social media experience to Zillow. In addition to his duties as a blogger, he also offers his expertise in real estate and social media conferences as a speaker, and is licensed to teach continuing education classes on social media marketing. Thompson will join Zillow's partner outreach team.