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Home Prices, Sales Experience Monthly Slump in September

The housing sector hit a speed bump in September as existing home sales dipped, the National Association of Realtors revealed Friday. The association reported existing home sales fell 1.7 percent to a seasonally adjusted annual rate of 4.75 million, the first decline in three months. The median price of an existing home dipped 0.5 percent or $1,000 from August to $183,900, but is up 11.3 percent ($18,600) from September 2011, the strongest year-over-year dollar increase since January 2006.

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Report: Construction Improving Most in Southeast

Six of the top 10 markets with the most single-family construction activity over the last year are located in Texas and the Southeast, according to a report from John Burns Real Estate Consulting. Because housing demand and employment are usually tied together, single-family permit growth has also meant job growth for many metros. Oklahoma City, Orlando, and Phoenix have all seen substantial employment growth (above 2.5 percent year-over-year) to match the rise in permits.

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Walker & Dunlop Expands Freddie Mac Program Plus Operations

Walker & Dunlop, Inc., is now an approved Freddie mac Program Plus Seller/Servicer in 22 states and the District of Columbia, the company announced. Walker & Dunlop acquired five additional Program Plus Seller/Servicer territories in connection with its acquisition of CWCapital. Separately, the company was also recently granted new territories in six states as a result of its growth and additional market presence.

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Fannie Mae: Housing Recovery to Withstand Economic Headwinds

In its October Economic Outlook report, Fannie Mae's Economic & Strategic Research Group pointed to financial and policy issues in the U.S. and abroad as looming challenges that could restrain meaningful economic growth in 2012. While the outlook on the economy was uncertain, the assessment for the housing market was more stable. Chief economist Doug Duncan said various indicators show "continued momentum toward a sustainable, long-term recovery," particularly the upward trend in home prices.

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Capsilon Appoints New VP of Finance and Administration

In San Francisco, California, Capsilon is welcoming a new company leader, recently appointing David Chen as the VP of finance and administration. The technology provider added Chen to Capsilon's executive team, where he will be responsible for implementing the company's financial processes to support growth initiatives.

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First-Time Jobless Claims Soar in Steepest Increase Since 2009

Unemployment

First time claims for unemployment insurance shot up 46,000 to 388,000--the highest level since July--for the week ending October 13, the Labor Department reported Thursday. Economists expected initial claims to bounce back up to 365,000 after seasonal factors drove the number of claims down to the lowest level in 54 months. The weekly increase was the steepest since the end of January 2009, when claims soared 53,000 in one week. Since claims reports are usually revised upward the "final" claims total will likely end up as the highest since January.

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Mortgage Fraud Suspects Arrested in California

California attorney general Kamala Harris announced Tuesday the arrest of two suspects who are believed to have participated in a mortgage fraud enterprise that mainly targeted the Spanish community. Joana Sosa and Zoila Ortega are facing charges of grand theft, burglary, unlawful collection of advance fees, tax evasion, and conspiracy in a wide-ranging mortgage fraud scheme.

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