Secondary Market

Including distressed sales, home prices rose 10.5 percent year-over-year in March, marking the biggest annual gain in seven years, according to CoreLogic's Home Price Index (HPI). "For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year," said Dr. Mark Fleming, chief economist for CoreLogic. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."

First-quarter net income at Freddie Mac was $4.6 billion, barely above the $4.5 billion recorded in Q4 2012 but well above the $577 million in last year's first quarter.

A former attorney for the Consumer Financial Protection Bureau (CFPB) has joined Venable LLP as a partner in its Washington, D.C., office, the firm announced. Allyson Baker was among the initial team of enforcement attorneys at CFPB, helping to formulate agency policies regarding investigations and litigation in the aftermath of the financial crisis.

In California, Carrington Holding Company, LLC is renaming several of its businesses as part of an initiative designed to bring the entire Carrington family of companies under a single brand umbrella.

The American Land Title Association (ALTA), the national trade association for the land title insurance industry, awarded three National Title Professional (NTP) designations Tuesday during its Federal Conference in Washington, D.C.

David Stevens, president and CEO of the Mortgage Bankers Association (MBA), announced the appointment of Margaret A. Colon to serve as MBA's new chief administrative officer.

April saw continued growth in American optimism when it comes to housing health, according to results in Fannie Mae's monthly National Housing Survey. More than half of those who took the survey (51 percent, up from 48 percent in March) said they expect home prices to climb in the next year, while 10 percent--flat for the fourth straight month--expect declines. Thirty-five percent expect no changes. April's report marks the first time in survey history that more than half of respondents projected price gains.

Hiring fell 4.3 percent in March, the same month in which payroll job growth plunged, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). Data from the report indicated there were 11.2 unemployed construction workers for every available job in March, up from 9.0 in February. By industry, the number of unemployed persons per job opening also increased in the manufacturing and information sectors.

The percentage of banks reporting stronger demand for mortgage loans rose in the second quarter, the Federal Reserve reported, with more banks easing lending standards.

W.J. Bradley Mortgage Capital, LLC, a privately held mortgage banking firm headquartered in Centennial, Colorado, announced that it is taking in the principals and employees of Legacy Group Lending, Inc., of Bellevue, Washington.