News

Interthinx announced TrueOutlook, a tool that allows financial institutions to predict the quality of loans in a portfolio.

New York-based GFI Mortgage Bankers Inc., reached a $3.5 million settlement with the Department of Justice regarding discriminatory lending practices Tuesday.

Micoley.com will host an online auction on September 15 to sell off 45 properties based throughout Illinois, Mississippi, and Wisconsin

In the world of real estate agents, the iPhone reigns king-but just barely. A survey conducted by Realis Real Estate Software found that there seems to be no clear preference among agents between iPhone and Android-based phones-43 percent of agents use an iPhone, while 41 percent use an Android device.

CoreLogic found nearly 210,000 residential properties are at risk for storm-surge flooding from Hurricane Isaac.

RxOffice Inc. announced Tuesday that it has made available its RxOffice Project portal for Android-using customers of sister company IndiSoft.

According to Radar Logic's RPX Monthly Housing Market Report for June, sales of homes at foreclosure auctions and REO sales by financial institutions fell to their lowest share of sales since 2008. The fall in distressed sales led to an overall year-over-year gain in the RPX Composite price, which measures statistics in 25 metropolitan areas. However, Radar Logic warned that price gains made in the first half of the year may not last.

The number of completed foreclosures saw declines both monthly and yearly, according to CoreLogic's most recent foreclosure report. In July, 58,000 homes were lost to the foreclosure process compared to 69,000 in July 2011 and 62,000 the month before in June. Five states accounted for nearly half (48.1 percent) of all completed foreclosures over a one year period ending in July 2012. Those states were California (118,000), Florida (92,000), Michigan (61,000), Texas (57,000), and Georgia (54,000).

Investor participation dropped drastically in July, reversing a trend of long-term growth in investor purchases of residential properties. According to the report, investor activity in the housing market fell to 21.9 percent of all transactions in July, down from 23.5 percent in June. July's decrease also established a two-month trend of declines from May's two-year peak of 25.3 percent.

Home prices rose 6.9 percent in the second quarter, according to the Case-Shiller Index compiled by Standard