Bank of America has agreed to pay Freddie Mac $404 million to be released from existing and future repurchase claims on approximately 716,000 loans originated in the last decade by BofA and sold to the GSE. The payment also compensates Freddie Mac for past and future mortgage insurance-related losses on the loans, but doesn't cover loan servicing obligations or private-label securities.

Stewart Title of California announced the promotion of current group SVP Bob Oakland to the position of president. Oakland has been with the Stewart organization since 1995 and has worked since then to lead offices within the Direct Operations division on the West Coast.

Home price gains decelerated on a monthly basis in September in 19 of the 20 cities tracked by the S&P/Case-Shiller Indices, with Las Vegas and Tampa experiencing the greatest slowdowns. All 20 cities reported annual growth, and 13 fared better than they did in August. Cleveland posted the strongest yearly gain, though it remains the second-worst performing city, beating only New York.

Lenders Compliance Group Inc. announced the appointment of Michael J. Wallace Esq. to the position of director of marketing compliance. Wallace has spent more than 20 years counseling clients on federal and state industry laws and regulations regarding mortgage acts, practices, and marketing.

Pending sales of existing homes fell a bit further in October, according to the National Association of Realtors (NAR). The trade group's Pending Home Sales Index is a forward-looking indicator; derived from contract signings, rather than closed sales, pending sales figures typically lag actual sales by one to two months. October's reading was the lowest recorded by NAR since last December and marked the fifth consecutive monthly decline.

LoanLogics, a provider of loan quality management and performance analytics, announced the unveiling of its MERS Independent Third Party Performance Monitoring and Annual Review service. The specialty audit practice reviews and tests MERS controls and processes so servicers can ensure they are compliant with MERS regulations and avoid scrutiny.

LRES, a California-based company specializing in commercial and residential valuations and asset management, announced it has received a Certificate of Authority to conduct business in the U.S. Virgin Islands. With the certificate, LRES is officially authorized to do business within 54 U.S. states and jurisdictions.

Diane Nordin, a seasoned asset management executive, has joined Fannie Mae's board of directors, the company announced. Nordin most recently spent a year as a fellow at the Advanced Leadership Initiative at Harvard University. Before that, she worked for 20 years at Wellington Management Company, a private asset management firm.

While many Americans paused their homebuying plans during the federal government's partial shutdown last month, purchase activity rebounded once the government reopened, with buyer competition more robust than expected, according to a Redfin. Out of the 22 markets covered in the brokerage's report, San Diego experienced the biggest increase in multiple-bid offers on homes for sale, while Boston saw the biggest drop.

Secondary market professionals have a new way to connect with potential buyers and sellers: LendTrade, a recently launched community for trading professionals designed to cut out the middleman and save costs. Upon joining LendTrade, new members set up a profile and indicate the types of deals they're seeking, then they receive notifications when opportunities posted meet their criteria.