Origination

The Federal Housing Finance Agency (FHFA) reported 0.7 percent monthly price growth (seasonally adjusted) in May, according to its latest report. May's Home Price Index (HPI) was the 16th consecutive index to see monthly gains, according to the agency. For the nine census divisions, monthly price changes in May ranged from a low of -1.5 percent in the East South Central division to +1.8 percent in the South Atlantic division. On a year-over-year basis, the Pacific division took the top spot with a 15.8 percent price increase.

The American Land Title Association (ALTA) recognized three land title experts with National Title Professional (NTP) designations Monday.

A recent survey from United States Appraisals shows appraisers are less confident in the overall state of the housing market than they were at the end of the first quarter.

According to data reported by Redfin agents operating in 19 U.S. markets, June sales were down 4.7 percent compared to May, though they were still 2.7 percent up year-over-year. Home prices, on the other hand, continued to climb, coming in 4.3 percent higher than May and 18.7 percent higher year-over-year. Every one of the markets tracked in Redfin's report saw prices rise both on a monthly and yearly basis. Inventory also posted another solid gain in June, rising 2.4 percent month-over-month.

Existing-home sales fell 1.2 percent in June to an annual sales rate of 5.08 million as the price of a single-family home rose 13.5 percent from a year earlier--the strongest year-over-year gain since November 2005, the National Association of Realtors (NAR) reported Monday. The drop in sales came despite an increase in April in NAR├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Pending Home Sales Index, which tracks contracts for existing single-family homes. The index rose in April to 105.7 from 104.1 in March and fell in May.

The vast majority--95 percent--of residential appraisers surveyed in May and June reported an increase in demand for their services compared to last year, according to a report from the Appraisal Institute. Although the outlook for services appears strong, the hiring of trainees is expected to remain weak, especially among residential appraisers. According to the institute, commercial appraisers account for less than one-third of practicing appraisers, yet they were much more active in hiring trainees.

In the last three months, confidence is up 16 points, or almost 40 percent. With giddy numbers like these, one would think builders would rush to break ground, but they're not.

Annual home price and sales gains continued their streak in June, increasing on a yearly basis for the 17th straight month, according to RE/MAX's monthly housing report.

GMH Mortgage Services, a nationally recognized mortgage banker headquartered in Pennsylvania, announced the addition of Brian Beale as associate VP of corporate recruiting.

In Dallas, Wingspan Portfolio Advisors brought on experienced mortgage vet Meredith McCrory as VP of strategic alliances.