LenderLive Network Inc., an end-to-end mortgage services provider, hired two industry veterans for executive positions. Kevin Kelley, who holds more than 27 years of industry experience, joins LenderLive as SVP of operations for the document services unit. Leon Niedzwiecki, a mortgage industry professional with more than 20 years of experience, was appointed director of review services.

Three industry analysts gave testimony before a Senate committee on housing finance reform Tuesday. While all three experts expressed support for more private capital and less government involvement, the proposed degrees of government support varied. Mel Martinez, co-chair of the Bipartisan Policy Center's Housing Commission, recommended the elimination of the GSEs over a period of about 5-10 years and the creation of a limited, government guarantee called the ""Public Guarantor.""

In the fourth quarter of 2012, about 200,000 residential properties transitioned out of a state of negative equity, bringing the 2012 yearly total to 1.7 million properties, CoreLogic reported. According to the data provider, there were still 10.4 million homeowners who were underwater as of the end of Q4; the figure represents 21.5 percent of all residential properties with a mortgage. Out of the 10.4 million properties, 1.8 million have a loan-to-value (LTV) ratio between 100 and 105 percent. Thus, these properties need prices to rise by 5 percent to transfer into positive territory.

Prommis Holdings Inc., along with 10 of its affiliates, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Delaware. Bloomberg first reported the story Monday and revealed the company listed debt of more than $50 million and assets of as much as $50 million in the filed documents. Prommis provides technology-enabled processing services for the default resolution sector of the mortgage industry.

The STRATMOR Group, a team of consultants that specialize in all aspects of mortgage lending, released its 2012 annual compensation survey to gather information on industry pay for professionals.

Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group Inc., appointed industry veteran Phillip Bracken as the chief policy officer for government and industry relations. In the newly created position, Bracken is called to represent Radian on Capitol Hill by promoting a more traditional balance between private and public capital in the mortgage finance market.

More than one-third of homes were taken off the market in two weeks or less last month, Redfin revealed in its most recent monthly housing report. On average, 34 percent of homes were under contract within 14 days of their debut in February, an increase from 30.3 percent in January, the online real estate broker reported. Redfin also reported a continued year-over-year decrease in inventory, which has fallen 32 percent from February 2012.

REO inventory declined at an accelerated pace in 2012 as investor activity intensified, but the impact of the reduction has been uneven across markets, according to an analysis from CoreLogic. In the data provider's March MarketPulse report, economist Sam Khater explained markets in the Midwest and Northeast are still struggling with REO inventory, while the South and Southwest are seeing ""massive"" declines. The decline suggests an increase in investment activity from both individual and institutional investors, with different contributions from the investor types.

The rental market may be flourishing, but finding decent, affordable housing is still a challenge for many renters, especially among the lower-income households, the National Low Income Housing Coalition revealed in a recent report titled Out of Reach 2013. A person working full-time would need to make about $18.79 an hour to afford a decent apartment, yet the hourly wage earned by the average renter is $14.32, according to the report. Among extremely low income (ELI) renter households, affordable housing is an even greater issue. The report estimates there are 10.1 million ELI renters in the country, and 76 percent of the ELI rental segment spends over half of their income on housing costs.

Out of 18 large banks, the Federal Reserve announced 14 banks received approval for their capital plans, while the plans of two banks, Ally Financial and BB&T Corp., were rejected. According to the results, Goldman Sachs and JP Morgan Chase were not rejected but are required to submit new capital plans.