Mackie Wolf Zientz & Mann, P.C. (MWZM) announced two new hires along with the expansion of its operations into Tennessee.

As Congress moves to consider immigration reform, the housing industry is also weighing in on how certain provisions will impact the market. According to the NAHREP, allowing a path for the legalization of undocumented immigrants could mean $500 billion in new real estate transactions. The NAHB also provided input on immigration reform and asked lawmakers to establish a ""fair and workable"" E-Verify system during a congressional round table discussion last week.

DataQuick announced the full integration and rebranding of Rels Title to DataQuick Title after the title company was acquired in September of last year.

The Center for Responsible Lending (CRL) expressed opposition toward bill H.R. 1077, known as the Consumer Mortgage Choice Act, which would exclude loan originator salaries, insurance and taxes held in escrow, and loan level pricing adjustments by government agencies or GSEs when computing points and fees. In a letter to Congress, CRL argues that H.R. 1077 ""promotes steering borrowers into more expensive loans"" and ""creates new loopholes that would allow loans with higher costs and fees to improperly meet"" QM standards.

The Mortgage Bankers Association (MBA) shared a proposal to bring private capital back into the mortgage market while decreasing costs for taxpayers and borrowers. In a recent paper, the MBA explained the up-front risking sharing concept, which calls for the GSEs to offer risk-sharing at the front end of transactions. The proposal also suggested Fannie Mae and Freddie Mac should accept loans with ""deeper levels of credit enhancement"" in exchange for reduced guarantee fees and other loan level charges.

Fiscal drags such as the sequester may have weakened economic momentum, but the economy should ""reaccelerate"" in the second half of this year as financial and housing conditions improve, according to Fannie Mae's Economic and Strategic Research Group. ""Employment numbers are getting better, albeit it at a relatively slow pace, and the April employment picture should help boost consumer sentiment toward the economy overall,"" said Doug Duncan, chief economist for Fannie Mae.

In its most recent update on the status of foreclosure review checks, the Office of the Comptroller of the Currency (OCC) announced more than 2.4 million checks valued at $2.2 billion have been cashed or deposited as of May 16. So far, Rust Consulting, the paying agent, has sent 3.9 million checks totaling $3.4 billion. About 4.2 million borrowers are eligible for relief as part of the foreclosure review settlement reached in January between federal regulators and 13 servicers.

Economists usually do it with models, so it's rare in economics to be able to conduct a laboratory experiment. Currently, though, we're watching two experiments in different corners of the world that support the idea that stimulus works to repair a troubled economy and austerity doesn't. Japan and the eurozone are, through their actions, demonstrating how economies can move in opposite directions with Japan's stimulus plan succeeding and the eurozone's austerity program failing.

Collateral Risk Solutions, Inc. (CRS) has launched a new Appraisal Audit Service (AAS) to help lenders and AMCs adapt to new regulations that require them to perform post-closing appraisal audits.

The housing market came out of April in a particularly strong position, according to Redfin's latest Real-Time Price Tracker, with prices, sales, and inventory posting gains across the country. Redfin's monthly report--based on home prices, sales, and inventory across 19 U.S. markets--shows prices rose 4.9 percent in April on a monthly basis and 16.1 percent on a yearly basis. Meanwhile, the number of homes for sale increased 6.4 percent from March to April.