In September, foreclosure resales accounted for 19 percent of all homes that were resold, a decrease from 19.2 percent in August and 44.4 percent in September 2011. In March 2009, foreclosure resales peaked at 66.2 percent.

The National Credit Union Administration (NCUA) selected Gail Laster to lead as the director of the Office of Consumer Protection, a senior management position within the agency.

Long & Foster Real Estate, Inc. announced Bob Albanese, the company's senior regional VP and regional manager of the Philadelphia and New Jersey region, was selected to serve on the board of directors for TREND multiple listing service.

A sharp drop in distressed sales is one of the main drivers behind the steady rise in home prices seen in certain areas throughout the country, according to the monthly Campbell/Inside Mortgage Finance HousingPulse survey. In September, the HousingPulse Distressed Property Index (DPI) hit a record low of 38.6 percent based on a three-month moving average. HousingPulse respondents reported major banks seem to be keeping many REO properties off the market this year, but suggested banks may look to release ""significant amounts"" of bank-owned properties next year, which could lead to lower home prices. When real estate agents were asked about the impact of the upcoming national elections, responses were mixed.

Property types at the November 10 auction include commercial, multifamily, single-family residences, and condos. All properties are available for online bidding now until the auction date.

Starting January 2013, the IRS will accept electronic signatures on Form 4506-T, which will make the process for requesting tax return transcripts easier. National Credit-reporting System, Inc. (NCS) announced the news in a release after receiving communication from the IRS as a participant in its income verification express service (IVES).

The projected taxpayer cost to preserve the profitability of Fannie Mae and Freddie Mac is lower now that the GSEs are not expected to draw from Treasury to pay dividends and home prices are increasing, according to a report from the Federal Housing Finance Agency. So far, the GSEs have drawn $187.5 billion from Treasury. When assessing potential Treasury draws under three different scenarios, FHFA projects Treasury draws will range from $191 billion to $209 billion at the end of 2015, or an additional $3 to $22 billion in support.

Summer's end may have led to the close of a strong home-buying season, but a decrease in distressed sales is helping prices maintain their yearly gain and some regions are still experiencing monthly price increases. As of August 23, 2012, prices fell 0.4 percent in 25 major U.S. metropolitan areas from July 23, 2012, according to Radar Logic. Year-over-year, prices were still up 4.5 percent, coinciding with a significant decrease in REO and foreclosure auction sales.

Nationwide Appraisal & Settlement Network (NASN) opened three new divisions to improve services the appraisal management company can offer to clients. The divisions are reverse mortgage, hard money, and mortgage servicing.

IndiSoft introduced a quality management platform for mortgage loan originators and servicers. RxOffice Compliance works to help originators lower operational and compliance costs while reducing the risk of credit losses.