News

After campaigning for more than a year, Consumer Financial Protection Bureau architect Elizabeth Warren claimed victory in the race to represent Massachusetts in the U.S. Senate.

Home sellers are already showing optimism for the 2013 selling season, according to Redfin's Real-Time Seller Survey.

Mortgage applications continued to decline in the wake of Hurricane Sandy, according to the Mortgage Bankers Association's data.

In Q3 2012, proprietary modifications stood at 186,057 compared to 161,764 in Q3 2011, representing a 15 percent annual gain.

A U.S. district judge squashed an attempt by JPMorgan Chase to fully dismiss a lawsuit from the Federal Housing Finance Agency over alleged securities fraud. In its motion to dismiss, JPMorgan argues that FHFA's complaint does not contain enough factual support that loans were not underwritten properly. Judge Denise Cote disagreed, saying the allegations "amply support FHFA's assertion that the Offering Documents for the Securitizations contained false statements regarding originators' compliance with underwriting standards."

The number of housing markets across the country showing lasting improvement expanded by leaps and bounds in November, according to a report from the National Association of Home Builders (NAHB). The NAHB/First American Improving Markets Index (IMI) showed 125 markets demonstrating consistent improvement, up from the previous record high of 103 in October.

Real estate technology provider a la mode, inc. announced that its Mercury Network service will waive all fees related to gathering disaster reports in areas impacted by Hurricane Sandy. According to a company release, in the aftermath of Sandy, orders for disaster inspection reports from lenders increased more than 200 times the normal level.

Equifax Inc. announced that Jeff Dodge, VP of investor relations, will be representing the company throughout November at several conferences.

Bank of Commerce Mortgage (BOCM) announced the addition of Jay Kunkle to the company's Newport Beach branch. Kunkle will serve as a senior mortgage advisor for the branch. A Certified Mortgage Planning Specialist, he brings more than 20 years of mortgage lending experience to BOCM.

Mortgage activity was down last week, dropping 11 percent from the previous week and by almost one-third from the same week last year.