Secondary Market

Equifax has enhanced its retro income verification service, Point in Time, and integrated it into the company's Spectrum Verification Services Platform, the company announced.

The Zillow Home Value Index reached $161,600 in July, up 0.4 percent from June and an even 6.0 percent from July 2012. July marked the 14th straight month of annual home value gains. Of the 393 metros tracked in July, 289 (73.5 percent) reported month-over-month price appreciation, and 303 (77.1 percent) showed annual appreciation. In addition, all areas saw both monthly and yearly appreciation, and all "have hit their bottom and are expected to show appreciation in the next 12 months."

NXTLoan | First American Mortgage Trust, a lender specializing in FHA 203(k) loans, hired Rob Philion as director of sales and national sales manager. Philion brings more than 14 years of experience in leadership positions at financial institutions to the company.

While inventory was down in July compared to last year and the prior month, the decreases were more conservative, which means home price gains should slow, according to RE/MAX's most recent housing survey. July inventory was 1.3 percent below the level in June and 20.7 percent lower compared to a year ago. However, inventory expanded month-over-month in 18 of the metros tracked. News for home sales was also positive, with closed transactions climbing 17 percent year-over-year and inching up 1.5 percent month-over-month.

Equity Loans LLC, a Georgia-based company with operations in more than 30 states, announced the additions of David Carr and Teresa Ciccolella and the promotion of Alison Raymond.

The National Association of Realtors announced a research partnership between Realtor University's Center for Real Estate Studies and the Asian Real Estate Association of America (AREAA).

A July monthly property intelligence report (PIR) conducted by Dataquick, a provider of real estate information solutions, reveals a monthly and annual rise in home prices for every single participating U.S. county out of the 42 evaluated. In fact, home prices have hiked an average of over 13 percent versus this time last year. Per DataQuick's data, this rise in price has been directly linked to fewer foreclosures, limited property availability, and an overall decline in transactions.

In Florida, mortgage technology provider MortgageFlex Systems, Inc., announced the addition of Laura White to its professional services team.

The second quarter saw modest gains in home sales in Connecticut, according to the Warren Group. Second-quarter sales of single-family homes totaled 6,898, a nearly 1 percent increase over Q2 2012. In June alone, home sales were up 0.4 percent (the second straight month of increases) to a total of 2,602.

Despite lackluster performance from the economic sector, the housing recovery will press on and stimulate overall growth, according to Freddie Mac's most recent economic and housing outlook.