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Mortgage applications went up 0.2 percent last week as refinance volume rallied at levels not seen for the past several years. The Mortgage Bankers Association found the refinance share of mortgage activity ticking up to 81 percent of total application volume, the highest since January this year, while the Refinance Index climbed 0.8 percent to its highest level since April 2009. The increase in refinance activity also saw a 6 percent decline in government refinance applications. The adjustable-rate mortgage share of activity declined to 4.1 percent of total volume.

Prospect Mortgage has appointed a new leader for its expanding operations in Massachusetts. The company recently announced Jeff Kobold as branch manager for Prospect's Orleans location. Kobold, who has more than a decade of lending experience, will head up the opening and operations for Prospect's Orleans office. Additionally, Kobold will take on responsibilities for the company's existing branch in Osterville, as well as other soon to open Cape Cod-area locations.

Canada-based Avison Young is bolstering the company's brokerage operations in Atlanta, Georgia. The commercial real estate firm recently hired Sean Moynihan to represent the organization throughout the Southeast U.S. Joining Avison Young as a principal, Moynihan will be responsible for developing strategies for real estate expense management and assisting with long-term planning to mitigate risk.

The Texas State Affordable Housing Corporation (TSAHC) has announced the expansion of its initiatives for low and moderate income homebuyers. TSAHC will now extend its down payment assistance programs to current homeowners and those who have previously owned a home.

Controversial hoops star Gilbert Arenas recently listed his Great Falls, Virginia, party pad for $3.5 million. According to Curbed, Arenas' estate features over-the-top amenities including a shark tank, outdoor grotto, suede covered walls, and one of the "largest private pools you will ever see."

Freddie Mac announced Tuesday its plans to expand on its Relief Refinance Mortgage Program by aligning separate mortgage requirements. The GSE announced that it will align requirements for mortgages with loan-to-value ratios that are equal to or less than 80 percent with those for mortgages with LTV ratios greater than 80 percent. The alignment is expected to eliminate many of the lender├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós selling representation and warranty responsibilities on loans being refinanced. Details are scheduled to be announced to lenders by mid-September.

The Consumer Financial Protection Bureau recently passed its one-year anniversary. On Monday, the agency released its semi-annual report for 2012 to highlight achievements in the first half of this year. What do the numbers say? For starters, the consumer bureau has received more than 55,300 complaints between July 2011 and June 2012, according to the report. The greatest single source of complaints, making up 43 percent of all complaints made to the CFPB, fell on mortgages and problems encountered by consumers with their monthly payments.

Uganda's leading mortgage lender, Housing Finance Bank Limited, has established a new partnership with Polaris Financial Technology Ltd. Housing Finance Bank selected Polaris' Intellect CBS platform to support its business and IT needs. Currently, Housing Finance Bank holds approximately 60 percent of all mortgage accounts in Uganda, and the entity is the ninth largest commercial bank in the country.

In Chicago, Illinois, Solidifi is set to welcome a new company leader. Solidifi recently announced that Andrew Bough would join the organization as its chief valuations officer. Bough, an industry veteran, has accrued nearly two decades of experience in the real estate, banking, and mortgage sectors.

Personal income rose $61.8 billion in June but consumers held on to it as personal spending fell 1.3 billion in the month, the Labor Department reported Tuesday. The increase in income ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 0.5 percent ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô topped expectations of a 0.4 percent boost, but the 0.01 percent decline in spending fell short of the 0.1 percent increase economists had expected. Disposable personal income ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô essentially after-tax income ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô rose $52.4 billion in June. Personal savings as a percentage of disposable (after tax) income rose to 4.4 percent in June from 4.0 percent in May.