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Builders Raise Own Appraisal Concerns

Appraisal practices have taken center stage lately with the roll out of the new Home Valuation Code of Conduct (HVCC) by the GSEs. And now, the National Association of Home Builders (NAHB) has raised its own concerns over valuations of foreclosures, REOs, and short sales.

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Long-Term Rates Continue to Drop

Mortgage interest rates slipped lower again this week, according to the Primary Mortgage Market Survey (PMMS) released Thursday by Freddie Mac. Frank Nothaft, the GSE’s VP and chief economist, said that along with the recent moderation in home price declines, lower rates are providing a big boost to the nation’s ailing housing market.

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SigniaDocs Hires Chief Strategy Officer

SigniaDocs, a Houston-based provider of eMortgage services, has named Harry Gardner to the post of chief strategy officer. Gardner is the former VP of industry technology at the Mortgage Bankers Association (MBA) and former president of MISMO (Mortgage Industry Standards Maintenance Organization).

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Mortgage Apps Down Despite Rate Drop

Applications for home purchases and mortgage refinances both declined last week, despite a 10 basis point decline in interest rates, according to the Weekly Applications Survey issued by the Mortgage Bankers Association (MBA) on Wednesday.

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Bank Regulators Report Mod Increase

Loan modifications made by mortgage lenders and servicers spiked during the first quarter of the year, according to a report issued Tuesday by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).

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USRES Unveils Property Leasing Solution

US Real Estate Services Inc. (USRES), a national provider of REO management services headquartered in Lake Forest, California, has announced the launch and immediate availability of a new service – USRES Property Management.

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LPS Forms New Real Estate Group

On Tuesday, Jacksonville, Florida-based Lender Processing Services, Inc. (LPS) announced the formation of the LPS Real Estate Group. The new division was created as a result of the company’s acquisition and rebranding of the businesses comprising FNRES Holdings, Inc.

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Connecticut’s Distressed Home Sales Rise

The number of bank-owned property sales in Connecticut has jumped significantly, according to The Warren Group, which provides real estate data for the entire New England region. The research firm said REOs represent nearly 6 percent of the state’s single-family home sales so far in 2009, compared to just 1 percent last year.

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New First American Service Tracks REOs

First American Valuation and Property Solutions, the Dallas-based branch of First American Corporation that provides residential property valuations, inspections, and preservation services, announced on Tuesday the availability of a new Property Listing Verification report.

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