With the federal funding running out on Friday and a potential government shutdown looming, expect to see an impact on the mortgage industry. Access to tax documents and other government paperwork may prove difficult in the event of a shutdown. Furloughs at the IRS and Social Security can cause roadblocks in the application process.

First American’s Real House Price Index (RHPI) for February 2017 showed home prices remaining strong. The low inventory has meant that home prices have remained high. Additionally, the RHPI noted that rising wages have offset the impact of rising home prices and mortgage rates on affordability. Wages have grown by 2.8 percent in February.

Schiller, Knapp, Lefkowitz & Hertzel, LLP, (SKLH) a law firm specializing in the default servicing industry, announced the promotion of long-time associate Daniel Young to partner rank. Young will continue to provide foreclosure and litigation support from SKLH’s Waitsfield, Vermont office.

The S&P Corelogic Case-Shiller HPI covers 20 metropolitan areas across the U.S., and is released on the last Tuesday of every month. The previous HPI, covering January 2017, showed home prices at a 31-month high. During January, home prices were up 5.9 percent year-over-year and 5.7 percent month-over-month.

Though mortgage rates and applications are falling, home prices are rising. Freddie Mac’s House Price Index has shown a steady increase in prices over the last several months. The S&P CoreLogic Case Shiller Home Price Index has shown a similar trend. January’s Index reflected a 31-month high in home prices. During January, home prices were up 5.9 percent year-over-year and 5.7 percent month-over-month.

In its Q1 results, SunTrust Bank noted that higher mortgage-related income and investment-related income pushed the noninterest income up by $32 million. Mortgage servicing income posted a strong quarter, with a net income of $53 million over the previous quarter’s $25 million. Still, this was a decrease from the previous year’s Q1 income of $62 million.

Critics have begun to speak out after President Trump signed two executive orders calling for the review into “too big to fail” and a number of financial oversight entities. Some even fear it could signal another financial crisis is on the horizon. Trump’s orders specifically require a review of the Financial Stability Oversight Council and the Orderly Liquidation Authority.

According to a new survey, homebuilders are largely optimistic about the next two years, with 82 percent anticipating an uptick in residential construction over the period. Builders also expect most buyers to need 30-year loans or construction-to-permanent loans. The survey also polled builders on working with loan officers, buyer hurdles, and the impact of rising mortgage rates.

OrangeGrid, a California-based provider of configurable business process workflow solutions to the financial services industry, announced that Michele McCoy has joined as VP of business development. McCoy brings over 30 years’ experience in financial services industry to the OraneGrid team, along with a proven track record of success driving long-term organizational growth following key leadership positions with Fifth Third Bank, Bank One, National City, and Citigroup.

Recently, Linda and Alison Orlans launched Orlans PC, the second largest Women’s Business Enterprise National Council certified women-owned law firm in the U.S. Linda Orlans will serve as Executive Chair, and Alison Orlans will assume the role of President and CEO.