Headlines

Freddie Mac released its monthly volume summary for May 2014, tracking information on the company's mortgage-related portfolio, securities issuance, risk management, delinquencies, debt activities, and other investments. The summary found that overall, Freddie Mac's total mortgage portfolio decreased at an annualized rate of 2.1 percent in May.

The U.S. Department of Housing and Urban Development (HUD) announced that Brotman Enterprise, LLC will pay $25,000 as part of an agreement resolving allegations of discrimination. The Philadelphia-area real estate company settled with HUD as part of a Conciliation Agreement.

In its latest S&P/Case-Shiller Home Price Indices report, S&P Dow Jones Indices recorded an annual price increase of 10.8 percent among both the 10- and 20-city composites. Those figures compare to year-over-year increases of 12.6 percent and 12.4 percent, respectively. A consensus of economists surveyed by Econoday called for a gain of 11.4 percent in the 20-city index.

Existing-home sales rose in May at their highest monthly growth rate in years as inventory continued to expand, the National Association of Realtors(NAR) reported. According to NAR, total existing-home sales—representing completed transactions of single-family homes, townhomes, condominiums, and co-ops—jumped 4.9 percent last month to a seasonally adjusted annual rate of 4.89 million.

Florida's housing market had more new listings, an increase in median prices, and an uptick in inventory in May, according to Florida Realtors. Completed sales of single-family homes totaled 23,013 across the state, an increase of 3.6 percent over the May 2013 figure.

DiversityBusiness.com, the nation's leading multicultural social media site, recognized VRM Mortgage Services (VRM) and PCV Murcor (PCV) as two of the nation’s "Top Businesses" for 2014. The award recognizes and honors individuals who have established themselves as a world-class community of entrepreneurs.

Black Knight Financial Services released its "First Look" at May Mortgage data, which found that foreclosure inventory declined to its lowest level since July 2008. As a percentage of total inventory, foreclosure pre-sale inventory is 1.91 percent, down 5.56 percent month-over month.

In its May 2014 Residential & Foreclosure Sales Report, RealtyTrac reported that U.S. properties sold at an estimated annual pace of 5.1 million in May. The pace of sold homes remained virtually unchanged from April, with a small increase of less than 1 percent from May 2013.

The list of 2014 bank collapses grew into the double digits over the weekend as River Valley Bancorp was forced to close two of its subsidiary operations. In separate releases issued Friday, FDIC announced the shuttering of Valley Bank branches in Moline, Illinois, and Fort Lauderdale, Florida, bringing the 2014 bank failure tally to 11 so far.

The Federal Housing Finance Agency (FHFA) released its latest Refinance Report, examining data as of the end of April 2014. The FHFA found that overall refinance volume rose slightly in April, but remained at levels more comparable to those seen in 2008.