Origination

The S&P/Case-Shiller Home Price Indices rose once again in August at their fastest annual rate in more than six and a half years, but the monthly pace continues to slow. The Case-Shiller 10- and 20-city composites each posted yearly growth of 12.8 percent over August 2012, breaking July records and setting the fastest pace for growth since February 2006. Compared to July's indices, annual growth accelerated in 14 of the tracked cities. Monthly numbers were slower, with both composites seeing a 1.3 percent increase.

Mortgage Bankers Association (MBA) president and CEO David Stevens took the stage at the group's 100th Annual Convention and Expo Monday morning, reflecting on the last century in housing and shining a spotlight on today's challenges. While he notes that the government's response to the economic crisis has seen its share of successes, he also says Washington needs to recognize and take responsibility for the shortcomings of its policies, a step he believes policymakers have been reluctant to take.

The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) for September indicates home sales will stumble in the year's final quarter as buyers struggle with declining home affordability. "This tells us to expect lower home sales for the fourth quarter, with a flat trend going into 2014. Even so, ongoing inventory shortages will continue to lift home prices, though at a slower single-digit growth rate next year," said NAR chief economist Lawrence Yun.

The Mortgage Bankers Association (MBA) started off its 100th Annual Convention Sunday with the election and swearing-in of its board of directors for the 2014 membership year.

Docutech Integrates Veri-Tax Verification Solutions DocuTech Corp. has partnered with Veri-Tax to automate the 4506-T IRS verification process in ConformX, DocuTech's flagship software.

Today's resilient capital market has the capacity to adapt readily to the pending ability-to-repay and qualified mortgage (QM) rules set to take effect January 10, 2014, according to a white paper CoreLogic released Friday. In its analysis, CoreLogic offers general support for the rules and suggests the industry will continue to prosper--albeit with more caution than in the years leading up to the housing crisis. "Making sure a borrower has the ability to repay is good business," the company said.

Fay Servicing announced the launch of an initiative to create strategic partnerships with mortgage lenders and help train originators for careers in servicing.

After hearing arguments for a month in a Manhattan federal court, a 10-person jury found Bank of American liable for one charge of fraud involving high-risk mortgages originated by Countrywide and then sold to the GSEs. Also found liable for fraud was Rebecca Mairone, who worked as COO for one of Countrywide's lending divisions and who was responsible for overseeing the company's "High Speed Swim Lane" program, often referred to as "the Hustle."

NewDay USA customers will soon be able to electronically receive and sign loan documents, thanks to the company's recently announced partnership with e-document solution provider eLynx.

Alliant National Title Insurance Company, a title insurance underwriter that partners with independent agents, announced the hiring of Katherine Kitty Stevens, Esq. as VP of Florida agent training and business development.