Servicing

Giving homebuyers a new way to access property information, BluFi Lending has unveiled its Mobile Connect service. The direct lender's smartphone initiative will serve as a marketing and communications platform for those seeking details on the go while surveying a potential property.

First time claims for unemployment insurance fell to 377,000 for the week ended June 2, from the prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós upwardly revised 389,000, the Labor Department reported Thursday. Economists had expected the report would be show 379,000 initial claims. The drop in claims was the first in five weeks.

The Systemic Risk Council, a volunteer group led by former FDIC chair Sheila Bair, will meet in June to monitor and encourage regulatory reform of U.S. capital markets focused on systemic risk. The council, formed by CFA Institute and The Pew Charitable Trusts, is an assembly of experts in investments, capital markets, and securities regulation.

Interthinx has added a public policy expert to its leadership line up. The company recently announced the appointment of Sharee McKenzie Taylor as Interthinx's director of industry relations in Washington, D.C.

Citizens First Wholesale Mortgage Company has welcomed a new president. The Florida-based organization recently announced the appointment of Jonathan L. Woods to the executive role.

Mortgage applications increased 1.3 percent on a seasonally adjusted basis in May, according to the Mortgage Bankers Association's latest mortgage application survey released Wednesday. The survey measured application data for the week ending June 1 and included an adjustment for the Memorial Day holiday. On a non-seasonally adjusted basis, application rates were not as strong, falling more than 9 percent from the previous week. Refinances continue to make up a large portion of mortgages, taking up 78 percent of activity for the week, up 1 percent from the previous week.

The Office of Mortgage Settlement Oversight continues to evolve as the monitor, a widely respected banking and housing finance chief, takes on new help from accounting and legal firms. Joseph A. Smith, Jr., onetime Federal Housing Finance Agency director-nominee, now responsible for overseeing servicer compliance under the $25 billion settlement, revealed Monday that BDO USA, LLP, would serve as the Raleigh, North Carolina-based office's eyes and ears. He spoke with MReport about the firm Wednesday.

The 30-year fixed mortgage rate tied the all-time low at 3.59 percent, down one basis point from last week, according to a Zillow report released Tuesday. The real estate Web site also found the 15-year fixed-rate mortgage averaging 2.95 percent, while rates for 5-year and 1-year adjustable-rate mortgages hovered at 2.6 percent. The last time Zillow reported the same low mortgage rate was May 18. New York and Illinois both saw base points decrease by 9 and 11 points respectively.

Mortgage giant Fannie Mae announced Tuesday that old hand Timothy Mayopoulos will take over as president and CEO in mid-June. The new chief executive joined Fannie three years ago to serve as EVP, chief administrative officer, and general counsel. He assumes his new role as outgoing CEO Michael Williams takes leave. Before joining Fannie Mae, Mayopolous served as EVP and general counsel of Bank of America. He also functioned in senior management roles at Deutsche Bank, Credit Suisse First Boston, and Donaldson, Lufkin & Jenrette, Inc.

Home prices across the nation rose in April, and a further increase is expected for May's index, according to CoreLogic's April Home Price Index report. The report, released Tuesday, showed that home prices in the United States increased in on a year-over-year basis by 1.1 percent in April. This was the second consecutive year-over-year increase in 2012 and the first time two consecutive increases have occurred since June 2010. On a month-over-month basis, home prices increased by 2.2 percent in April, marking the consecutive month-over-month increase this year.