Two large loan modifications helped bring down the CMBS delinquency rate, which fell 30 basis points (bps) to 7.61 percent, down from 7.91 percent in January, according to Fitch Ratings. The dollar balance of delinquent loans also sank below the $30 billion mark, a first since February 2010, Fitch stated. The dollar balance of delinquent loans also sank below the $30 billion mark, a first since February 2010, Fitch stated.

Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial, introduced a newly enhanced tool to help lenders more quickly compare rates or obtain rate quotes.

Smith Breeden Associates announced the return of Carl D. Bell, CFA. Bell serves as a principal and senior portfolio manager at the asset management firm.

In Fannie Mae's most recent housing survey, consumers maintained their optimism toward home prices, while the share of consumers who said now is a good time to sell reached a record high. However, consumers in the survey were less optimistic about the economy and their own financial situation. Nearly half, or 48 percent, of respondents in the February survey said they expect home prices to rise in the next 12 months. At the same time, 25 percent also believe now is a good time to sell, the highest level since the survey's June 2010 inception.

Although rates for foreclosure starts and sales remain volatile, one underlying trend continues: foreclosure inventory in judicial states is still three times higher than that of non-judicial states, according to Lender Processing Services (LPS). As of the end of January 2013, the share of loans in foreclosure inventory in judicial states stood at 5.69 percent compared to 1.79 percent for non-judicial states, according to LPS' mortgage monitor report. LPS also revealed at the current rate, it will take 62 months to clear foreclosure inventory in judicial states compared to 32 months in non-judicial states.

Foreclosure petitions in the Bay State plunged nearly 30 percent year-over-year in January, according to a report from The Warren Group. Foreclosure petitions--the first step in the foreclosure process--decreased to 940, down from 1,333 in January 2012. The decrease marks the third straight month petitions have fallen in Massachusetts.

After assessing over 900 markets across the country, RealtyTrac put together a list of the top 15 markets for short sale and REO purchases for the year. Out of the 15 markets selected for short sales, nine were located in California. RealtyTrac also noted the average remaining deficiency after a short sale exceeded $100,000 in seven of the 15 markets, which suggests banks are willing to take a huge loss to avoid foreclosure. The markets on the REO list averaged discounts ranging from 33 to 57 percent and the time to sell ranged from 139 to 175 days compared to 188 to 358 days for short sales.

Davidson Fink LLP, a full service law firm located in Rochester, New York, announced Andrew Burns and Jill Schultz have joined the firm as partners. Both were former partners of the law firm Burns & Schultz LLP. Burns and Schultz each bring over 20 years of litigation experience to the firm.

The Policy Advisory Board of the Harvard Joint Center for Housing Studies announced a new leadership appointment. Michael H. Thaman, Chairman and CEO of Owens Corning, was selected to serve as the board's chairman.

Resolve Solution Services Corporation announced it has shed it's former name, Resolve Collection Corporation, to reflect developments from the company. President and CEO Mike Newell explained the change was made to better describe the expanded services the company now provides.