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NAR Projects Record High for Housing Affordability in 2012

In November, the National Association of Realtors' Housing Affordability Index reached 198.2, up 1.5 points from a year ago. The association projects the index will achieve a record high of 194 for 2012. However, record high affordability doesn't necessarily translate into more homeowners, as "excessively tight underwriting precluded many would-be homebuyers from locking-in generational low interest rates," explained chief economist Lawrence Yun.

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Envoy Mortgage Expands FHA Loan Product Offerings

In Houston, Texas, Envoy Mortgage is enhancing its loan product offerings to start the new year. Currently operating mortgage retail branches in nearly every U.S. state, Envoy's customers will now have access to an expanded range of Federal Housing Administration (FHA) 203(k) mortgages.

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Minneapolis Home with Hollywood Past Lists for $2.895M

A home with a Hollywood past has hit the market in Minneapolis, Minnesota, for $2.895 million. Built at the turn of the century, the property was made famous in the 1970s thanks to its connection to The Mary Tyler Moore Show, on which the house's exterior was featured as the main character's abode.

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AIG Board Meets to Consider Suit Against U.S. Government

After some consideration, the board of American International Group (AIG) announced Wednesday the company will not be joining in a lawsuit brought by one of its former executives against the U.S. government. The New York Times first reported Monday that AIG's board was mulling over its options regarding a $25 billion lawsuit filed by Starr International Company on behalf of AIG shareholders and spearheaded by former AIG CEO Maurice "Hank" Greenberg (now the CEO of Starr).

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Residential Finance Welcomes New CFO

New

Residential Finance Corporation announced it has brought senior industry executive Nick G. Hahn on board to serve as CFO. Hahn is a 30-year banking and financial services industry vet, having worked most recently as CFO at Capitol Bancorp Limited.

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Rekon Announces VP Promotion

Rekon Technologies announced the promotion of Jim Su to VP of software development. In his new role, Su is charged with overseeing the technology operations of Rekon's software programmers and managing the company's quality assurance team.

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