Servicing

Nationally, asking prices increased 9.5 percent year-over-year in May, but in the ten least affordable metros, asking prices spiked 16.3 percent during the same time period.

The Mortgage Bankers Association (MBA) announced the nomination of Quicken Loans CEO Bill Emerson to be its vice chair for the 2014 membership year.

Mortgage Contracting Services (MCS) announced the promotion of Wade Petty and Marie Walters to VP of finance and controller/assistant VP, respectively.

According to Fannie Mae's May 2013 National Housing Survey, Americans expressed record confidence in price gains, with 55 percent--a survey high--saying they believe prices will go up in the next year. Only 7 percent of respondents in the survey expect prices to drop, the lowest level since the survey's inception. In addition, the average 12-month home price chance expectation was 3.9 percent, the highest level in the survey's history and a leap over April's 2.7 percent forecast.

Vericrest Financial, Inc., a financial services company with centers in Texas, Oklahoma, and California, announced it has changed its corporate name to Caliber Home Loans, Inc., effective immediately.

Informative Research, a mortgage information services provider based in Garden Grove, California, appointed Stan Baldwin as COO.

FDIC's failed bank tally rose to 15 as an institution in Las Vegas shut down, the agency announced.

To better gauge the future of homeownership and the current shift toward renting, Fannie Mae's National Housing Survey took a look at renter attitudes and preferences in Q3 2012 to get an idea of their aspirations and expectations. According to the findings, the majority of respondents believe renting has its advantages in terms of current finances and stress. However, when asked about control, privacy, security, and financial prospects, the vast majority (64 percent and up across each question) said owning is the better choice.

Markets across the nation can expect to see sales soften in June and July, based on early reports from Redfin agents around the country.

The economy added 175,000 jobs in May, and the unemployment rate ticked up to 7.6.percent, the first month-over-month increase since January, the Bureau of Labor Statistics (BLS) reported Friday.