News

Technology is ever-evolving, and it's transforming the real estate industry, generating volumes of information about how people approach and conduct real estate transactions. To help Realtors understand and interpret these trends, the National Association of Realtors (NAR) hired Todd Carpenter to fill a newly created position, managing director of data analytics.

Member firms of Mortgage Insurance Companies of America (MICA) issued a combined 37,501 new mortgage insurance policies with a dollar volume of $9.6 billion in September. Private mortgage insurers' new business for the month represents a drop from the 46,051 new policies issued in August and tracks a drop in August application volume of more than 5,000.

Borrowers' financial health deteriorated in the third quarter after seeing marked improvement in the previous three-month period, according to recent findings released by the online exchange LendingTree. The company's measurement of borrower health is based on average loan-to-value (LTV) ratios and average credit scores, and with rising home prices, potential borrowers faced more financial pressure.

Although the CoreLogic Case-Shiller Home Price Indexes recorded a 10.1 percent year-over-year increase in national home prices in the second quarter, double-digit appreciation is not expected to continue. While the market will continue to see home prices appreciate, those gains are projected to slip to just 5.4 percent by the beginning of next year, CoreLogic reports.

PCV Murcor, a real estate valuations provider, announced the launch of ValuationsDirect, an online appraisal ordering platform designed specifically for mortgage brokers and correspondents. Appraisal reports ordered through the new platform are sent to local appraisers who have specific expertise in their markets and come with a certificate of appraiser independence.

Clayton Holdings, LLC, a provider of loan due diligence, surveillance, and consulting services to the mortgage industry, announced Monday that Joe D'Urso has been named president and COO of the company, effective immediately. D'Urso will oversee all of Clayton's U.S. business units. In addition, Lorenz Schwarz has been named president of Clayton's Green River Capital business unit in addition to his current role of the business unit's COO.

As of November 1st, Fannie Mae is no longer purchasing loans with loan-to-value ratios above 95 percent, which means borrowers must put up a down payment of at least 5 percent, as opposed to the 3 percent previously required. Industry experts with the Urban Institute's Housing Finance Policy Center argue this move is arbitrary and likely to provide little benefit to the GSE or to taxpayers.

While many indicators suggest the housing market is recovering, some fear another bubble is already forming. A survey by Country Financial, a financial services firm in Illinois, found that some 48 percent of Americans believe the market could reach ""bubble"" status within the next two years. Bubble or no bubble, many Americans continue to suffer financial burdens that impede them from homeownership.

Senate Republicans blocked a vote on the nomination of Rep. Melvin Watt to head up the Federal Housing Finance Agency. Watt's proponents say the former real estate lawyer would support greater consumer protections and assistance for homeowners. Critics say acting director Edward DeMarco has dutifully protected taxpayers, pursued policies that promote a healthy housing economy, and should get the nod for the director's spot.

After taking a break in the summer, home price growth got back up to strength in September, according to statistics reported by DataQuick in the company's Property Intelligence Report. DataQuick reported price growth ""resumed at a rapid rate in September and spread to all"" of its 42 reporting counties on a monthly, quarterly, and yearly basis. Other metrics, such as sales, weakened, however.