Origination

Dykema, a leading national law firm, announced that Luke Sosnicki has joined its Los Angeles office as senior counsel.

Both home sales and prices rose at double-digit rates above May 2012, and inventory is showing signs of stability, RE/MAX reported.

Freddie Mac maintains in its latest U.S. Economic and Housing Market Outlook that rising mortgage rates shouldn't have a significant impact on housing affordability or the recovery for the time being.

After coming back for a short period, mortgage applications resumed their downward trend in June's second week, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of loan application volume, fell 3.3 percent on a seasonally adjusted basis for the week ending June 14. On an unadjusted basis, the index dropped 4 percent compared with the previous week. At the same time, mortgage rates continued to increase.

Commercial and multifamily mortgage debt outstanding decreased for the first time in five quarters during the first quarter of this year, according to the Mortgage Bankers Association (MBA).

California-based DocMagic, Inc., a provider of eDelivery solutions has received approval from Fifth Third Mortgage Company as an eDelivery and eSignature vendor for correspondent lenders.

Improvements in housing and labor lifted Deloitte's Consumer Spending Index for May, the company reported. The index, which comprises four components--tax burden, initial unemployment claims, real wages, and real home prices--rose to a reading of 4.27 from April's 4.12. The index tracks consumer cash flow as an indicator of future spending. Three out of the four components contributed to May's uptick, according to Daniel Bachman, senior U.S. economist for Deloitte.

Prices shot up in May even as for-sale inventory showed signs of recovery, according to Redfin's Real-Time Price Tracker. According to the brokerage's findings, home prices came in 4.3 percent higher month-over-month and 17.4 percent higher year-over-year in May (to a median $208 per square foot). Eighteen of the 19 markets measured by Redfin saw monthly improvement in prices (Austin being the exception), and all 19 reported yearly increases. Once again, the West proved strongest.

eRecording--is taking hold as a way to streamline the records process and free up resources at lending and servicing offices, according to Nationwide Title Clearing, Inc. (NTC).

GSF Mortgage, a premier online mortgage lender headquartered in Wisconsin, announced the promotion of Hannah Goreta. Having worked with GSF for four years, Goreta now serves as an account executive for the company's U.S. Department of Agriculture (USDA) Rural Housing division.