Headlines

Compared to the prior period, the nation’s average Borrower Health Score was up 2.8 percent to 82.2, rebounding from the third quarter’s 1.6 point drop, according to LendingTree. The Borrower Health Score is calculated using the weighted average of credit score, loan-to-value ratio (LTV), and overall “lendability” of loan seekers in each state throughout the quarter.

The California Association of Realtors (CAR) released a new report, revealing sales of distressed homes have plummeted in the past five years. In January, 2009, 69.5 percent of all homes sold in California were distressed, which included short sales and real estate-owned properties (REO). The report issued Monday noted that five years later, distressed home sales made up only 15.6 percent of sold homes.

DocuTech announced Monday that COO, Scott K. Stucky, has expanded his role within the company, and will now serve as Chief Strategy Officer. In his new role, Stucky will oversee client relations, partnerships, product management and the overall strategic direction of the company.

The Consumer Financial Protection Bureau (CFPB) announced that servicemembers, veterans, and their families who complained to the bureau about financial products or services have recovered over $1 million. The report covers more than 14,000 complaints filed from July 21, 2011 through February 1, 2014.

REO Allegiance, a leader in nationwide mortgage field services, announced Friday that it has changed its name to First Allegiance to more accurately reflect its broad areas of expertise.

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the February edition of the Obama Administration's Housing Scorecard on Friday. The report found that new home sales rose, foreclosure completion were down, and home prices remained stable.

Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced in a press release Friday that a federal jury in New Haven has convicted Jesse C. Litvak, a registered broker-dealer and former managing director at New York investment bank Jefferies & Co., Inc., of multiple offenses involving schemes to defraud customers trading in residential mortgage-based securities (RMBS).

Wells Fargo announced its support of the American Land Title Association's (ALTA) Best Practices in its Settlement Agent Communications issued March 6, 2014. The lender said the Best Practice guidelines for sound business practices should ideally already be in place for businesses providing title and closing services for its customers.

As of the end of 2013, CoreLogic estimates the number of mortgaged residential properties with equity totaled about 42.7 million, representing a share of about 86.7 percent. Due to a slowdown in the quarterly growth rate of the company's Home Price Index, the share of homes with equity versus underwater homes was mostly unchanged from Q3 to Q4.

A report released this week by the National Association of Home Builders (NAHB) and First American’s Leading Markets Index showed that the economy and housing market are functioning at a level about 87 percent of their pre-crisis normal levels. The report measures metro markets based on housing permits, home prices, and employment.