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Mortgage giant Freddie Mac saw $577 in net income over the first quarter, less than $619 million for the same by the fourth quarter last year. The GSE said that its net worth deficit would require a Treasury draw of $19 million, adding that it offset comprehensive income over the first quarter by senior preferred dividends worth $1.81 billion. The company laid claim to more than $114 billion of liquidity in the mortgage market over the first quarter, including $89 billion single-family refinance loans that resulted in an estimated $1.4 billion in aggregate annual interest savings.

Davis + Henderson Corp. recently expanded the scope of its mortgage loan origination software by acquiring Avista Solutions, Inc. The Toronto, Ontario-based lender listed $40 million for a purchase price and said it would tap into existing credit facilities to expand credit facilities. D+H billed the move as one that allows it to complement the Mortgagebot subsidiary it currently owns and uses to reach more than 1,100 banks and credit unions.

The nation added 115,000 jobs in April, far below expectations and a drop from March├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós revised payroll growth of 154,000, the Bureau of Labor Statistics reported Friday. The closely watched unemployment rate dipped again to 8.1 percent ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô its lowest level since January 2009 (7.8 percent) when President Obama took office ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a function of a sharp drop in the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós labor force. Payroll gains for February and March were revised, adding 19,000 to the February numbers and 34,000 to March. The average workweek remained at 34.5 hours.

Homes for sale saw their asking prices tick up 0.5 percent in April, more than in March, according to Trulia. Asking prices climbed quarter-over-quarter by 1.9 percent, while price increases unadjusted for seasonality went up 4.8 percent. Prices for for-sale homes also went up 0.2 percent nationally. Miami and Phoenix saw the biggest increases among asking prices, with figures up by more than 15 percent year-over-year. Forty-four of the 100 largest metro areas observed year-over-year price increases, while pickups took place in 92.

In Dallas, Texas, First Preston HT has appointed a new president and CEO. The company's chairman, Nancy Tartaglino Richards, recently announced the promotion of First Preston HT veteran Lisa Barrentine to the leadership role.

Bank of Colorado recently reported an estimated 25 percent uptick in loan production during the past 24-months, and the company's technology provider, Mortgagebot, is taking partial credit for the significant increase. Citing the bank's use of MortgageboT's PowerSite platform, the tech company says that its integrated point-of-sale solution helped the financial institution capitalize on current market conditions. Mortgagebot noted that the departure of several larger lenders in Bank of Colorado's geographical region created opportunities to increase market share.

Concerns about the economy, European debt, and Chinese growth led mortgage rates to fall for the fourth straight week, according to Bankrate.com. The finance Web site found the 30-year fixed-rate mortgage averaging 4.05 percent, down from 4.09 percent last week, according to Bankrate.com's weekly survey. Bankrate.com also said that the 15-year loan set a new record low by falling to 3.25 percent, down from 3.28 percent, while 5-year and 1-year adjustable-rate mortgages each fell from 3.03 percent to 3.02 percent.

Remodeling activity fell flat during the first quarter this year, according to the National Association of Home Builders. The trade group recently released a Remodeling Market Index that found remodeling activity dropping to 47 from 48 over the last quarter. Anything below 50 for the index indicates that more remodelers say that market activity is less than high. The index climbed down by one point to 49 over the first quarter, with future indicators of remodeling business down two points to 44. Three components shifted differently.

In the United Kingdom, Experian Identity & Fraud is reporting another annual uptick in mortgage fraud, recently revealing statistics that showed an eight percent rise in incidences of fraud during 2011. The company's survey marks the fifth consecutive year during which the rate of mortgage-related fraudulent activity has increased. Experian's findings indicate that an estimated 34 of every 10,000 mortgage applications contained false information in 2011. The results of the study represent a significant elevation of numbers seen in 2006.

As anticipated, Costco will now begin offering consumers access to mortgage loans through the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós online presence. The discount retailer will move ahead with its initiative to extend residential mortgage to borrowers through partnerships with 11 U.S lenders.