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Based on transactions recorded in May, Lender Processing Services' Home Price Index rose to a reading of $226,000, an increase of 7.9 percent over May 2012. The index has climbed 5.6 percent since December of last year. For yet another month, the West dominated the list of metros reporting price month-over-month increases. The top spot was Las Vegas, posting a 3.2 percent gain. Following that were San Francisco, Reno, and Sacramento--each with a 2.5 percent increase--followed by several smaller California markets.

Stewart Title Guaranty Company announced the appointment of Brett Kline as underwriting counsel for the Carolinas.

In a poll of buyers planning to purchase a home within the next two years, Realtor.com found that three out of five respondents will consider school boundaries when choosing their next home.

Responding to higher mortgage rates, the National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) slipped 0.4 percent in June to 110.9, the group reported Monday.

Wells Fargo Ventures, LLC, a subsidiary of Wells Fargo & Co., will exit from its eight mortgage joint ventures in mortgage lending due to "the current regulatory and market environment," the company announced Thursday.

Prospective buyers have had to step up their game as the market continues to grow more competitive.

In California, Prospect Mortgage, LLC named veteran mortgage finance professional Amy Brandt as COO.

President Obama embarked this week on a series of speeches designed to highlight the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós continued economic stress. The immediate response and from both ends of the political spectrum was to decry his efforts as same-old, same-old. And, it is true the President has made this pitch before, emphasizing that the significant progress has made is not enough.

Fannie Mae and Freddie Mac together recorded 418,004 refinances in May, a drop from 463,587 in April but still well above May 2012's 341,185.

DebtX, a full-service loan sale advisor, reported a slight drop in loan prices securing commercial mortgage-backed securities (CMBS) in June.