HomeValueForecast.com released a report on housing market trends, which highlighted two main findings: most Core Based Statistical Areas (CBSAs) are in the weak or soft category, but the majority of CBSAs had more positive than negative market trends. The ranking was developed based on single family home markets in the top 200 CBSA. Market indicators include average active market time, average listing price, and number of foreclosure sales. The market trend indicators are forward-looking, and so having more positive indicators forecasts improving conditions in a high percentage of the CBSAs.

RES.NET recently launched a customer loyalty program for real estate agents. RES Rewards, the program’s name, is free and allows members to collect points by completing tasks throughout the system such as using the connect tool, referring a friend, and renewing a membership.

In response to data released by the National Association of Realtors (NAR) on Wednesday, experts overall agreed market is heading towards recovery but advised certain factors need to be taken into consideration when analyzing the data. In response to the 4.3 percent month-over-month increase in January for existing-home sales, Capital Economics stated that it is not quite as encouraging as it first appears given that it comes at the expense of a 5 percent downward revision to the previous month's figures.

Moderate Growth Projected for the Year Overall, growth is expected to continue for the year, but at a modest rate, according to the Fannie Mae February 2012 Economic Outlook report. Economic growth is projected to be at 2.3 percent for 2012, an increase compared to 1.6 percent last year, according to the report. For the first time in seven years, the housing market is projected to contribute to gross domestic product (GDP, but by a very modest amount.

The Federal Housing Finance Agency (FHFA) released a three-part goal Tuesday to phase out the dominant role of Fannie Mae and Freddie Mac and allow for more private investors into the mortgage industry. The first part of the goal involves building a new infrastructure to enable the private sector to participate in the secondary market. The second goal would be to contract the GSEs' operations to the private sector, gradually moving mortgage credit risk from the GSEs to private investors, according to the letter.The last goal is to continue with initiatives to prevent foreclosures and ensure mortgage credit is available.

Operation Homefront, a non-profit which assists military members, partnered with Chase to place at least 100 Wounded Warriors, military, and veteran families into permanent residences this year through the Homes on the Homefront program. Chase is providing the homes, and Operation Homefront will provide ongoing transitional services to the families until properties are deeded to the recipients.

a la mode announced February 16 that its DataCourier service reached a milestone of one million appraisal reports delivered since September 1, 2011, the time new Uniform Appraisal Dataset (UAD) requirements went into effect. DataCourier is a free electronic packaging and delivery service that bundles files and checks for compliance errors.

Loan Resolution Corporation Acquires KeyLink Asset Management LRC Asset Management, a majority-owned company of Loan Resolution Corporation (LRC), announced the acquisition of KeyLink Asset Management. As of March 1, 2012, KeyLink will be known as LRC Asset Management.

Keystone Asset Management announced the promotion of one of its employees to VP of marketing and business development. Ryan Hennessy, who joined Keystone in 2009, received the new title. In his role as VP, Hennessy develops new businesses and works closely with operations, sales, IT, and accounting teams to implement procedures in the ongoing development of existing client portfolios.

To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process. Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales time lines on February 17. The legislation, also known as the Prompt Notification of Short Sales Act, will require a written response from a bank no later than 75 days after receipt of the written request from the buyer.