News

Realis Real Estate Software announced Tuesday the release of a new software combining its previous releases to create a full solution for agents in the default real estate industry.

RentJuice: announced Tuesday the launch of its app for the Android platform, allowing more rental professionals to better communicate with clients and streamline content sharing while out of the office.

San Francisco, San Jose and Las Vegas metro areas were named as the top markets for sellers, while Chicago, Milwaukee and Cleveland were categorized as markets where buyers have more power, according to data released from Zillow Tuesday. In the top sellers' markets, price cuts are uncommon and homes often sell for at or near their asking price. In markets where buyers are favored, homes are taking longer to sell and buyers receive discounts averaging 5 percent below the asking price.

One week after announcing that CEO Bob Diamond stepped down in the wake of a rates manipulation scandal, Barclays: announced Tuesday that the bank reached an agreement with Diamond regarding the terms of his resignation. According to a release from Barclays, Diamond voluntarily offered to waive all of his deferred bonus awards and long-term incentive share awards. The release noted that consistent with his employment contract, Diamond will still receive up to a year's salary, pension allowance, and other benefits.

National home prices saw both quarterly and yearly gains in June, and all four regions across the U.S. posted quarterly increases, according to the Home Data Index (HDI) released by Clear Capital Tuesday. Home prices rose by 1.7 percent in June from the previous quarter and a year ago, and growth is expected to continue into the second half of the year at a rate of 2.5 percent, Clear Capital reported. Broad-based regional gains and expanding progress are reasons for the current gains and expected future growth.

According to a report from NCLC, laws in many states allow local governments to sell property through a tax lien foreclosure process if the owner falls behind on property taxes. A tax lien may be started over nonpayment of a small delinquent tax bill and then sold at a tax lien sale for the back taxes owed on the property. If the homeowner fails to buy back the property, the purchaser may acquire the home for very little and then resell it for a huge profit.

The most significant impact of the $25 billion robo-signing settlement has been the clarification of foreclosure standards for servicers, which has led to a higher number of initiated foreclosures, Fitch Ratings said in a note. Foreclosure initiation rates rose to roughly 12 percent in June, the highest figure since first half-2009, according to Fitch. While there has been an increase in principal reductions, Fitch said the growing use of principal reduction may be a continuation of an earlier trend, not a result of the settlement. In February, state and federal officials reached a landmark settlement with five of the largest servicers - Bank of America, JPMorgan Chase, Wells Fargo, Citi, and Ally over foreclosure practices.

The Consumer Financial Protection Bureau (CFPB) proposed mortgage disclosure forms designed for understanding on Monday. The forms are a result of research, testing, writing, and review and are being created to help consumers comprehend the terms of their mortgage and the costs involved. The proposed forms are part of the agency's Know Before You Owe project and are to be provided after applying for a loan and before closing.

Freddie Mac selected William H. McDavid to serve as executive vice president, general counsel, and corporate secretary on Monday. McDavid will begin his new role on July 16 and replace Alicia Myara, who has worked as interim general counsel since November 2011.

As of July, Vendor Resource Management became the exclusive provider of property management services for the Department of Veterans Affairs' (VA) foreclosed homes.