Mortgage Connect has appointed its VP of sales to the newly created role of chief strategy officer. Cristy Ward has worked in the mortgage industry for 17 years and in that time has earned a reputation as a problem solver who develops innovative, tailored solutions for complex problems.

DocuTech Corp., a compliance and documentation technology company headquartered in Idaho, has partnered with Veri-Tax to automate the 4506-T IRS verification process in its flagship software ConformX. The company says this technology enhancement will help lenders to simplify the disclosure process while ensuring compliance with consumer protection regulations.

Dr. Amy E. Alving has been elected to Fannie Mae's board of directors, the GSE announced. Alving is a seasoned technology leader who has worked as chief technology officer of Science Applications International Corporation, director of the Special Projects Office at the Defense Advanced Research Projects Agency, and a White House fellow.

Home prices are well above their year-ago levels, as evidenced by the latest S&P/Case-Shiller Home Price Indices. In fact, according to the report, the annual gain recorded in August was the fastest rate of growth since February 2006--up 12.8 percent from August last year. The monthly pace of appreciation, however, continues to slow. With prices rising just 1.3 percent from July to August, S&P says we may be approaching a plateau.

September marked the third straight month of declining business for Freddie Mac, with purchases and issuances coming in at their lowest level in a year and a half. Freddie Mac's total mortgage portfolio shrank at an annualized rate of 4.3 percent last month, contracting at a slightly lessened pace compared to August's -5.0 percent growth rate with new business totaling just $28.2 billion.

The Mortgage Bankers Association (MBA) started off its 100th Annual Convention Sunday with the election and swearing-in of its board of directors for the 2014 membership year.

According to RE/MAX's National Housing Report for September, closed transactions fell 18.5 percent month-over-month, in line with the typical trend as summer passes into autumn. Year-over-year, however sales increased 10.7 percent, making September the 27th consecutive month in which sales rose on an annual basis. The company also reported a slowdown in the rate of inventory decline.

ValuTrac Software, a software solutions provider to the appraisal management and mortgage lending industry, announced the hiring of David Yavorsky as the company's new chief information officer (CIO). Yavorsky comes to ValuTrac from a 13-year career at First American, where he held several senior level management positions.

Fay Servicing, a Chicago-based special servicer, announced the launch of an initiative to create strategic partnerships with mortgage lenders and help train originators for careers in servicing. The program is designed to provide training to hone key skills such as managing initial calls with borrowers, meeting compliance requirements, and conducting a Personal Budget Analysis (PBA) for borrowers.

Axios Valuation Solutions, a Fort Worth-based compliant appraisal services provider, announced the release of Desktop Appraisal, a new solution designed to combine the company’s technology and analytics with the expertise of local market appraisers to deliver compliant, reliable valuations.