Brian A. Potestivo, who founded Potestivo & Associates, P.C. in 1990, was named one of the 2013 ""Leaders in the Law"" by Michigan Lawyers Weekly. Only 30 honorees are recognized for the prestigious award in the state.

The price gap between non-distressed properties and damaged REOs is widening, according to results from the January Campbell/Inside Mortgage Finance HousingPulse Tracking survey. According to the survey, while non-distressed property prices have risen to their highest level in three years, damaged REOs, or bank-owned properties in need of repair, fell in January. The survey also found that while the investor share of purchases for damaged REOs has increased, interest for properties in that category has waned among current and first-time homebuyers.

Auction.com launched a new research division to provide data and analysis for the residential and commercial real estate sectors. According to a company release, the Auction.com research division is comprised of experienced economists and industry observers with track records of accurate research and forecasts.

In the fourth quarter of last year, the risk of mortgage fraud elevated to the highest level since 2009, Interthinx reported Tuesday. According to the company's Mortgage Fraud Risk Report, the mortgage fraud risk index climbed to 159, representing a 16 percent increase from Q3 2012 and 9 percent increase from Q4 2011. Interthinx pinpointed the source of the increase to a surge in property valuation fraud risk, which rose 25 percent from Q3.

Freedman Anselmo Lindberg LLC announced the hiring of two associate attorneys. Jinsun Koh and David A. Panega recently joined the growing default and real estate practices at the Chicago-based firm.

Federal Reserve Chairman Ben Bernanke underscored benefits of the Fed's quantitative easing policy while also pointing to associated costs and risks in his written testimony to Senators Tuesday. According to Bernanke, the benefits of the purchase and policy accommodation are clear. ""Monetary policy is providing important support to the recovery while keeping inflation close to the FOMC's 2 percent objective. Notably, keeping longer-term interest rates low has helped spark recovery in the housing market and led to increased sales and production of automobiles and other durable goods,"" he said.

The National Community Stabilization Trust (NCST) added an REO expert to its team. Todd Pawlinksi joined the national nonprofit as managing director of operations. Pawlinksi holds over 25 years of banking and financial services industry experience, including leadership roles in servicing and REO disposition.

Although some argue the push for homeownership was the root cause leading to the housing downturn, a report from the Bipartisan Policy Center's (BPC) Housing Commission argued it was actually a wide range of factors that converged to create the crisis and offered its own formula for encouraging sustainable homeownership for those with modest incomes. With past mistakes in mind, the commission argued sustainable homeownership should be encouraged among lower-income borrowers and can be achieved through broad availability of prime, fixed-rate mortgage financing and adjustable-rate mortgages with clear terms and limits on adjustments and maximum payments.

Wells Fargo kept its place as the largest servicer in the fourth quarter, according to a ranking from Mortgage Daily, while Ocwen made its way to No. 6, a spot previously held by Residential Capital in the third quarter.

Short Sale Agent Finder offers a free service so distressed homeowners can locate qualified short sale agents in their area. Since not all agents are ready to list short sales, Short Sale Agent Finder was created so homeowners can connect with experienced agents.