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HUD Issues Rule to Standardize Discriminatory Housing Cases

HUD announced Friday the issuing of a final rule to formalize a national standard for determining whether a practice violates the Fair Housing law based on an unjustified discriminatory effect. According to the agency, the rule establishes a three-part test that shifts burden of proof in a discriminatory housing case back and forth between the plaintiff and defendant. It is designed to address recent debates over whether or not a housing practice can be considered discriminatory if it seems neutral on the surface.

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LPS Announces Addition to Board of Directors

Lender Processing Services, Inc. (LPS) announced the appointment of Dan Carmichael to its board of directors. Carmichael also serves as the chairman of the board at Platinum Underwriters Holdings and is on the board for EagleEye Analytics and Dovetail Insurance Corporation. In addition, he is an advisor to FirstMark Capital.

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Capital Economics: Household Wealth to Boost GDP in 2013

Capital Economics forecasts the S&P 500 equity price index will end 2013 close to the current level of 1,500 and expects home prices to rise in the neighborhood of 5 percent. In turn, the growth in household wealth, the firms says, could lift GDP by around 0.7 percent. The most recent Flow of Funds report for Q3 2012 showed net household wealth grew to about $64.7 trillion. Capital Economics says the Q4 report, due March 7, is likely to show an increase of household wealth to around $65.1 trillion.

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Avison Young Hires Commercial Real Estate Vet

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Avison Young, a commercial real estate (CRE) services company headquartered in Toronto, Ontario, announced David Linsmayer has joined the company's brokerage operations in San Francisco. Effective immediately, Linsmayer joins Avison Young as a principal.

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Bank of Commerce Mortgage Expands Denver Operations

Bank of Commerce Mortgage (BOCM) is expanding its operations in Denver, the company announced. According to a release, BOCM's Denver office saw significant growth in loan volume and staff in 2012, necessitating the move to a larger office space.

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House Democrats Call for Ouster of FHFA Head

The principal reduction debate resurfaced after 45 members of the House of Representatives--led by Rep. Elijah E. Cummings (D-Maryland) and John F. Tierney (D-Massachusetts)--sent a letter to President Obama, urging him to replace Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco with a permanent director.

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