News

The American Land Title Association (ALTA), a national trade association for the land title insurance industry, released a set of Title Insurance and Settlement Company Best Practices created to help members highlight policies and procedures used to "ensure a positive and compliant real estate settlement experience."

Northstar Bank of Texas has announced the closure of a deal that gives the company a controlling interest in Goldome Financial, Inc. Through the acquisition, Northstar, a member of Carlile Bancshares, Inc., is set to expand its treasury management product line and mortgage division.

The Consumer Financial Protection Bureau (CFPB) announced it has finalized a rule adjusting the asset-size exemption threshold for banks, savings associations, and credit unions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Based on the adjustments, institutions with assets of $42 million or less (as of the end of 2012) are exempt from collecting HMDA data in 2013. That exemption does not apply to data institutions are supposed to report for 2012.

After going into free-fall for much of 2012, fixed mortgage rates started off 2013 with very slight declines.

First-time claims for unemployment insurance rose 10,000 to 372,000 for the week ending December 29, the third-lowest level of the year, the Labor Department reported Thursday. Economists expected claims to increase to 363,000. The previous week's report was revised upward to 362,000 from the originally reported 350,000, an unusually large revision but reflective of intervening holidays, during which state processing offices were closed.

A survey of economists conducted by Pulsenomics and published by Zillow shows high hopes for home prices in 2013 and beyond.

After seeing fairly little change in October, Fannie Mae's total Book of Business posted significant growth in November.

Mortgage application activity turned in December to close the year on a positive note, according to data compiled by Capital Economics.

Congress approved the appointment of Carol Galante as assistant secretary for housing and commissioner of the Federal Housing Administration (FHA). The appointment was finalized Sunday with 69-24 vote from the Senate.

Private mortgage insurance activity dipped in November, according to the most recent data from Mortgage Insurance Companies of America (MICA).