Secondary Market

Mortgage Guaranty Insurance Corporation (MGIC) is now offering insurance rates and eligibility to lenders through LoanSifter, the Wisconsin-based mortgage insurer announced.

The PNC Financial Services Group, Inc., a diversified financial services organization with headquarters in Pittsburgh, Pennsylvania, announced that Robert Q. Reilly will take over the CFO position following the retirement of current executive Richard J. Johnson.

The FHA Emergency Fiscal Solvency Act, introduced by Rep. Maxine Waters (D-California) and sponsored by Rep. Michael Capuano (D-Massachusetts), is designed to give FHA more flexibility to take action against originators who engage in faulty underwriting or who have high loan losses. Additional measures include authorizing the agency to require indemnification for improperly written loans. The House committee has held several hearings recently to examine FHA following the news that the agency may require a taxpayer bailout.

DataQuick unveiled its Portfolio Management Intelligence Suite designed to provide configurable solutions to meet clients' specific portfolio requirements.

Republic Mortgage Home Loans, a Utah-based mortgage lender, announced the release of a new mobile app exclusively for its borrowers and applicants.

In Pennsylvania, GMH Mortgage Services LLC announced the hiring of Janine Ranski as regional sales manager and assistant VP for the New York, New Jersey, and Pennsylvania market.

VirPack, a mortgage industry leader in document management, and IDS Inc., a provider of mortgage documents and compliance, are teaming up to streamline initial disclosures.

ZipRealty analyzed two years' worth of multiple listing service data and Census Bureau information to come up with a list of the top 10 most affordable housing markets of 2013. The coveted title of "Most Affordable Market of 2013" goes to the Dallas-Fort Worth area, where the median sales price is 5.27 times the median household income. Meanwhile, metros located on or close to the coasts make up the list of least affordable areas. Washington, D.C., takes the top spot, with the average median price costing 16.78 times the average household income.

First time claims for unemployment insurance fell 10,000 to 332,000 for the week ending March 9, the Labor Department reported Thursday. Economists expected 350,000 initial unemployment claims. The drop in filings the third in the last four weeks resumed a downward trend in layoffs.

House prices increased 9.7 percent year-over-year in January, continuing a recent trend, and prices show "no signs of an imminent slowdown," according to Capital Economics.