News

More than 95 percent of borrowers who refinanced in this year's third quarter selected a fixed-rate loan, according to data from Freddie Mac.

Zillow, Inc., a leading real estate information marketplace based in Seattle, Washington, announced that 33 additional real estate brokerages have signed on to participate in Zillow Pro for Brokers. In total, the number of participating brokerages is at 48.

The landscape of homeownership has undergone significant changes in recent years: The homeownership rate has declined, but so has the cost burden of owning a home. Both of these trends are most prevalent among young homeowners, according to a recent report from Fannie Mae. The national homeownership rate has declined in each of the past four years, according to the most recent Census data. The decline among those 25 to 44 years of age is more than twice the overall decline.

Overall customer satisfaction with mortgage lenders is at its highest level in six years, according to a study released by J.D. Power and Associates. The firm's 2012 U.S. Primary Mortgage Origination Satisfaction Study showed customer satisfaction reached 761 (on a 1,000 point scale) in 2012, up from 747 in 2011. According to the findings, overall satisfaction received a boost from "steady improvements related to transparency and communication" over the past few years.

Bank of America announced it's on track to fulfill consumer relief requirements as part of the national mortgage settlement.

RE/MAX announced the launch of its RE/MAX Commercial website, the standalone site dedicated to data-rich commercial real estate listings, investor information, and other resources.

East Tennessee's largest credit union has attracted a big fish in the legal community. ORNL Federal Credit Union appointed T. Wayne Hood, Esq. as SVP and general counsel.

Fitch Ratings recognized the strength of Freddie Mac's multifamily business, giving the GSE an initial CMBS special servicer rating of CSS2.

FDIC put a date on the closure of the last of its satellite offices established in the wake of the financial crash. The agency's East Coast Temporary Satellite Office (ECTSO), located in Jacksonville, Florida, will close April 5, 2014.

Raj Date, deputy director of the Consumer Financial Protection Bureau, is moving on from the agency at the end of January 2013, according to a report from The Wall Street Journal. A CFPB spokeswoman told WSJ Date plans to leave the bureau after the CFPB finalizes the slate of mortgage rules Congress mandated.