Origination

Private mortgage insurance dollar volume slipped month-over-month in January, according to data reported by Mortgage Insurance Companies of America (MICA). MICA member companies--Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, and Radian Guaranty Inc.--wrote $10.47 billion in primary new insurance in January, the trade association reported. That figure is down from December's reported $10.68 billion but a massive improvement over January 2012's $4.97 billion.

Following a vote in the Senate, Jack Lew is officially the Secretary of the Treasury. The Senate voted Wednesday 71-26 to confirm Lew, who was previously President Obama's chief of staff. Lew replaces Tim Geithner, who stepped down at the end of January; deputy secretary Neal Wolin had been filling in in the meantime.

HUD unveiled on Thursday an app for iPhone and iPad devices designed to provide the public and the housing industry with a quick and easy way to learn about the Fair Housing Act and to file discrimination complaints.

Mortgage rates finally broke their holding pattern this week, pulling back as reports demonstrated the housing market's ongoing strength and the global economy's precariousness. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.51 percent (0.8 point) for the week ending February 28, dropping from 3.56 percent previously. Last year at this time, the 30-year FRM averaged 3.90 percent. Bankrate.com's weekly national survey showed rates falling to five-week lows.

Real gross domestic product (GDP) grew 0.1 percent in the fourth quarter, the Bureau of Economic Analysis (BEA) reported Thursday. Last month, in the advance GDP release, BEA had reported the nation's economy contracted by 0.1 percent, the first "negative growth" since the end of the Great Recession in mid-2009. Economists had expected the turnaround, but to a stronger 0.5 percent growth rate. BEA said the revision is based on more complete data than were available for the "advance" estimate issued last month.

First-time claims for unemployment insurance fell 22,000 to 344,000 for the week ending February 23, the Labor Department reported Thursday. Meanwhile, the number of continuing claims fell to the lowest level in almost five years.

A month after launching the product on Google play, BankersLab announced the release of its Banc-it: Scoring Edition app for iOS.

According to Interthinx's latest Mortgage Fraud Risk Report, the company's mortgage fraud risk index climbed to 159 in last year's fourth quarter, representing a 16 percent increase from Q3 2012 and 9 percent increase from Q4 2011. Reflecting the national trend, the number of "very high risk" metros spiked from 70 in Q3 to an unprecedented 125 this quarter, the report revealed. In addition, 26 states have at least one newly added "very high risk" metro.

Single-family home sales in Massachusetts rose more than 10 percent year-over-year in January, according to new data from The Warren Group. Single-family sales reached 2,680--the highest January sales level since 2007, when there were 2,953 transactions. January 2012 single-family home sales were 2,436.

Nationwide Title Clearing, Inc. (NTC), a post-closing services provider based in Palm Harbor, Florida, has added another entry to its list of achievements: earning Inc. Magazine's Hire Power Award for its contribution to creating more American jobs.