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Carrington Real Estate Services, LLC announced the launch of MyFUELCenter, its mobile online resource for agents on the go.

GMH Mortgage Services LLC, a nationally-recognized mortgage banker headquartered in Pennsylvania, added Scott Medrow to its team as SVP of its National Mortgage Center and specialty products division.

In a testimony last week, Federal Reserve Chairman Ben Bernanke held his ground on the Fed's open-ended purchases program.

The Illinois Association of Realtors (IAR) reported Wednesday that sales were up 25.3 percent year-over-year throughout the state. According to the association, statewide home sales (including single-family homes and condos) totaled 12,621 in April, the best performance for that month since 2007.

The number of homeowners underwater on their mortgages continued to fall in Q1, but millions still lack enough equity to afford to move, Zillow revealed in its first-quarter Negative Equity Report. According to the report, the national negative equity rate was 25.4 percent in the last quarter compared to 27.5 percent at the end of 2012. However, when including homeowners with less than 20 percent home equity, the "effective" negative equity rate is 43.6 percent, or 22.3 million homeowners.

Fixed mortgage rates trended higher for the third consecutive week, according to reports from Freddie Mac and Bankrate.com.

The price of a new single-family home soared to a record high in April as sales jumped 2.3 percent to a seasonally adjusted annual rate of 454,000, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected April sales to increase to 425,000 from March's originally reported 417,000. March sales were revised to 444,000. The median price of a new home, according to the Census/HUD report, soared $20,900 (8.3 percent) in April to $271,600, the highest price on record.

First-time claims for unemployment insurance for the week ended May 18 dropped 23,000 to, 340,000 from the highest level since the end of March the Labor Department reported Thursday.

Pacific Union Financial, LLC appointed industry veteran Scott Conradson as EVP of mortgage servicing. With over 28 years of servicing and default management experience, Conradson will manage the company's growing servicing portfolio.

Though residential construction "is keeping the economy on an expansionary path," Moody's Analytics suggests that homebuilders are having a tough time shouldering the burden of growth on their own.