Headlines

Home prices continued to rise in March, but at a markedly slower pace compared to February, CoreLogic reported in its latest Home Price Index. According to the company, prices were up 11.1 percent nationally year-over-year in March, with growth expected to slow to an annual rate of 6.7 percent by the same time in 2015. Both figures include distressed sales.

In a survey of more than 2,000 adults, Trulia found an estimated 41 percent “would strongly or somewhat prefer” to buy a new single-family home over an existing one, assuming the prices were equal. Just more than one in five respondents—21 percent—said they would prefer an existing home, while 38 percent expressed no preference. Of course, while the survey set prices on a level field to gauge interest, that’s very rarely the case.

USRES, a real estate management solutions firm and parent company for the RES.NET platform, announced it is now providing origination valuations for Optimum First Mortgage, operating out of Fountain Valley, California.

Wells Fargo's April data suggests consumer sentiment slipped in Florida one point to 79 for the month, largely due to increased concerns about current economic conditions. The concern, both locally and nationally, outweighed a slight increase in confidence about future conditions for the economy as a whole. The Florida index largely reflected the nation's attitude, with the overall index dropping slightly to 82.3.

California-based technology firm Applied Business Software announced the launch of the Loan Office, a new product designed to aid small lenders seeking a powerful, affordable solution for managing loans.

A newly released survey of senior loan officers around the country finds credit standards remained largely the same on basic prime mortgage products over the latest quarter, while demand came in weaker. On the topic of subprime loans: On net, the handful of banks offering such products reported tightening, though more than half still said standards changed little.

As home price growth continues to moderate to a more sustainable pace, real estate data provider Clear Capital sees another promising trend forming: The mid-tier housing sector now has the best deals for buyers, hopefully drawing more interest to the market’s largest segment. Dr. Alex Villacorta, VP and chief economist for Clear Capital, says the shift reflects how market drivers have had an impact on each tier of housing.

Standard & Poor’s (S&P) may have made some missteps in evaluating the risk of a residential mortgage-backed security (RMBS) transaction that has now been postponed, Fitch Ratings says in a recent report. In a release issued Friday, Fitch says S&P relied on incomplete home value data for loans contained in the recently announced RMBS transaction to be issued by Bayview Asset Management.

In a blog post published late last week, Urban Institute’s researchers assert, “A market composition change—not lower lending standards—explains the decrease in average credit scores for conventional and FHA [Federal Housing Administration] mortgages. “Despite rising home prices and gradual housing recovery, the mortgage lending rules have remained tight, inhibiting housing demand and economic growth,” they continue.

In its latest Mortgage Monitor Report, Black Knight Financial Services found one in 10 Americans are underwater on their home loans, down from one in three as recently as 2010. "Two years of relatively consecutive home price increases and a general decline in the number of distressed loans have contributed to a decreasing number of underwater borrowers," said Kostya Gradushy, Black Knight's manager of Loan Data and Customer Analytics.