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The National Association of Realtors said Thursday that the share of distressed home sales dropped last month, accounting for 37 percent of total existing-home sales volume, down from 40 percent in March. Overall, sales of previously owned homes fell back 0.8 percent in April, to an annual sales pace of 5.05 million. Realtors in the field say the numbers are being impacted by low appraisals that result in contract cancellations. There were 3.87 million existing homes available for sale in April, which represents a 9.2-month supply.

A new study conducted by Trulia and RealtyTrac found that 56 percent of U.S. renters and 47 percent of current homeowners are at least ""somewhat likely"" to purchase a foreclosed home. Along with having some concerns about hidden costs and still-declining home values, many potential buyers expect to save money if they buy a foreclosure. On average, survey respondents said they would expect to pay 38 percent less for a foreclosed home than a similar home that was not in foreclosure - not too far above today's average discount of 36 percent.

Loans backing commercial mortgage-backed securities (CMBS) that were liquidated at a loss in the first quarter carried an average loss severity of 38 percent, according to Moody's Investors Service. That figure represents a decline from 40 percent for the previous quarter and was the first reduction in the severity of losses since the fourth quarter of 2008. During the month of April, CMBS loans totaling $2.9 billion became newly delinquent, while previously delinquent loans for $3.0 billion became current, worked out, or were liquidated.

The new Consumer Financial Protection Bureau (CFPB) aims to avert at least one hitch in the home loan process that some market experts say started a whirlwind of mortgage delinquencies - ensuring consumers have a clear understanding of the cost associated with their mortgage. CFPB unveiled two prototypes for a new regulatory disclosure form Wednesday that the agency will begin testing this week. Each of the prototypes combines the two-page TILA disclosure and the three-page RESPA disclosure into a single, abbreviated form.

Interthinx, a provider of risk mitigation solutions, recently integrated business search and bankruptcy data within its FraudGUARD system to help lenders identify high-risk borrowers. According to the company, the changes ensure a more concise borrower risk review, can improve loan quality, and provide users with a fraud prevention report.

The U.S. Patent and Trademark Office recently awarded two patents to First American Data Tree LLC, a provider of digital land records. The company received the first for an invention that allows users searching an electronic real estate database to select from several similar entries suggested by the system by using a specific type of search logic. The company's second invention involves collecting and validating property data at its source, whether locally or remotely, by using a mobile device.

ISGN, a provider of end-to-end technology solutions and services to the U.S. mortgage industry, announced this week that the company has named Raghavan Tiru as its chief information officer. ISGN says Tiru has been instrumental during his career in the financial services field in designing and developing advanced information technology initiatives for applications consolidation and platform migration that have saved companies millions of dollars.

For the month of April, Massachusetts foreclosure activity remained at levels dramatically below those recorded last year, according to data released this week by the Warren Group in Boston. However foreclosure petitions, which mark the first step in the foreclosure process in the Bay State, posted their highest number so far this year.

Lender Processing Services (LPS) says market data it's pulled through the end of April reveals an increase in the national mortgage delinquency rate and a drop in the industry's foreclosure inventory. Both stats did a complete u-turn from the trajectory they were on the prior month. LPS says the ratio of mortgages 30 or more days past due but not yet in foreclosure rose to 7.97 percent in April, while properties in the midst of the foreclosure process declined to 4.14 percent.

California's Inland Empire Economic Recovery Corporation (IEERC) recently announced it will receive a $1 million grant from HUD. The non-profit, which works to stabilize real estate values in distressed neighborhoods, will use the grant to purchase and rehabilitate foreclosed properties. IEERC recently made its first offer to purchase 34 foreclosed houses from Fannie Mae.