After examining practices from mortgage servicers, the Consumer Financial Protection Bureau (CFPB) found servicing problems such as disorganized account transfers and loss mitigation mistakes, according to a report. The CFPB's report was based on the examination of bank and non-bank servicers from November 2012 and June 2013. When pinpointing problems with mortgage servicing transfers, the CFPB identified risks that could lead to missed payments from consumers.

Fannie Mae's Economic & Strategic Research group expects economic growth to gain momentum in the later half of the year following a slow start. Looking ahead, the group expects GDP growth will average 2.0 percent for the year, accelerating to 2.6 percent in 2014 as fiscal drags peel away and the housing recovery continues. According to Fannie Mae chief economist Doug Duncan, ""[t]he biggest risk to this forecast is the expected reduction in the Federal Reserve's asset purchases.""

The number of filings related to suspicious activity for mortgage loan fraud fell year-over-year, while mortgage fraud related to foreclosure rescue scams spiked, according to a recent report from the Financial Crimes Enforcement Network (FinCEN). Last year, mortgage loan fraud (MLF) suspicious activity report (SAR) filings decreased to 69,277, down 25 percent from 92,561. However, the number of MLF SARs related to foreclosure rescue scams increased to 4,427, up 58 percent from 2,799 in 2011.

Altisource Portfolio Solutions, a global provider of services for the real estate, mortgage, and consumer debt industries, announced plans to acquire Equator, a solutions provider for the mortgage and real estate industries. The deal is valued at $70 million on closing and includes contingent earn out consideration of up to $80 million over three years, according to the announcement. Equator will still retain its name, offices, and management team after the acquisition, which is expected to close within 30 days.

Existing-home sales soared 6.5 percent in July to an annual sales rate of 5.39 million--the highest level since November 2009--as the price of a single-family home slipped 0.2 percent, the National Association of Realtors (NAR) reported Wednesday. Despite the month-over-month decline, the median price of an existing-home was $213,500, 13.7 percent ahead of the price in July 2012. It was the strongest yearly price gain since October 2005.

Two towns in Connecticut teamed up with Corporation Service Company (CSC) to transition into electronic recording for real estate and land use records. The towns of Manchester and Farmington now accept eRecording, which allows recording offices to reduce costs, eliminate payments errors, and receive prompt payments.

Alan S. Wolf, president and managing attorney at the Wolf Firm in California, was selected by peers for inclusion in the 2014 Best Lawyers in America list.

According to documents filed with the ""Texas Workforce Commission (TWC) under the Worker Adjustment and Retraining Notification (WARN) Act, Chase is laying off 451 employees in its Fort Worth-based home lending office and an additional 52 employees at its mortgage banking operation in Coppell. In its filing with TWC, the layoffs represent one of ""a number of steps to align [Chase's] mortgage business support activities to the current market environment.""

RE/MAX filed paperwork with the SEC Monday for its proposed $100 million public offering. Founded in 1973 by Dave and Gail Liniger, RE/MAX is represented in more 90 countries and has over 90,000 agents.

National default rates inched up in July, with first mortgages showing a slight increase, according to the S&P/Experian Consumer Credit Default Indices. For the first time this year, the default rate for first mortgages increased. In July, the default rate was 1.25 percent, up from 1.23 percent in June. The first mortgage default rate though is still down compared to July 2012, when it was 1.41 percent.