Government

As more markets across the country improved, all 50 states--plus the District of Columbia--were able to receive representation in February's Improving Markets Index (IMI) released by the National Association of Home Builders (NAHB) and First American. Last year during this time, just 36 states were represented.

The House Financial Services Committee assembled to hear from experts on the the Federal Housing Administration's (FHA) current financial situation.

Fannie Mae's CFO is planning to retire from the company by the end of the June, the GSE said in a filing with the Securities and Exchange Commission (SEC). According to the filing, Susan McFarland, who also serves as EVP at Fannie Mae, "notified the company that she will retire ... after a transition period that will begin on the effective date of the appointment of a new Chief Financial Officer by our Board of Directors and end no later than June 30, 2013."

Homeowners who refinanced their mortgages in the fourth quarter of 2012 reduced their interest rates by an average of 33 percent.

Measuring the prices of loans sold through its platform, Boston-based DebtX? found commercial real estate (CRE) loan prices rose over the year in 2012 but ended the year with little change in December.

Ally Financial reported net income of $1.4 billion for 2012's last quarter as the bank continues to shift away from the mortgage business. Last quarter's $1.4 billion income was a marked turnaround from the net loss of $206 million reported at the end of 2011. For the entire year, Ally recorded a net income of $1.2 billion compared to a net loss of $157 million in 2011. According to the bank's quarterly earnings report, performance was largely "affected by strong on sale revenue in Mortgage Operations."

Asking prices rose dramatically in January as renting prices cooled off somewhat, according to the latest data in Trulia's Price and Rent monitors. The company's Price Monitor showed a 0.3 percent quarter-over-quarter rise in January (without seasonal adjustment). On a seasonally adjusted basis, prices increased 2.2 percent quarterly. While January's numbers signal a strong price recovery, Trulia's chief economist warned the month's gains could disappear in some areas.

A new poll from the Consumer Reports National Research Center (CRNRC) shows consumer confidence is off to a sluggish start in 2013.

Realtors in December expected prices to rise by about 3.5 percent over the next year, while consumer estimates were more modest at 2.5 percent for the same time period, Capital Economics noted in its monthly housing report. The estimates show a growing optimism among those groups. But, with the low supply of inventory, Capital Economics anticipates much bigger gains.

The percentage of banks reporting stronger demand for mortgage loans dropped in the first quarter from the fourth quarter last year, and a slightly greater percentage are reporting easing lending standards, the Federal Reserve Reported Monday. In the case of "traditional" mortgage loans, 4.6 percent of banks reported standards easing somewhat. While the survey results suggest a direction of lending standards, they could be misleading: A bank which has tightened lending standards as much as possible may not ease them but cannot tighten further.