Servicing

CoreLogic's Home Price Index (HPI) continued to grow stronger in April, according to the company's latest HPI report.

Though Radar Logic's home price index continued to see strong gains in March, the firm says there are several signs that the trend won't last, the main one being the issue of limited supply. According to Radar Logic, the three supply constraints that will ease with rising prices are low and negative equity, seller psychology, and building activity, all of which are just temporary factors that will fade as the market continues to pick up steam. Once these "unorthodox" market forces fade, demand will also cease, the report says.

Equifax approved of DocMagic's eSign for electronic 4506-T requests. This means Equifax clients can use DocMagic's eSign for electronic signatures when submitting orders.

When it comes to real estate brand recognition, RE/MAX tops the list, according to a third-party survey completed in March. The survey, done by MMR Strategy Group between November 2012 and March 2013, asked homebuyers, sellers, and those planning to buy or sell to name a real estate brand without prompting.

A Census report released Monday put construction spending at an estimated annual rate of $860.8 billion (seasonally adjusted) in April, a 0.4 percent rise from March's revised estimate of $857.7 billion. Spending on homebuilding was at an estimated yearly rate of $308.3 billion in April, 0.2 percent down from March but 18.3 percent above April 2012. The report is consistent with the National Association of Home Builders' Housing Market Index, which dropped in April as builders contended with low credit availability and rising costs.

VRM Mortgage Services, a leading real estate solutions provider based in the North Texas metroplex, announced the appointment of Ed Hunter as VP of business development.

The Wisconsin Department of Financial Institutions closed Banks of Wisconsin (Kenosha), FDIC announced Friday. As receiver, the agency entered into a purchase and assumption agreement with North Shore Bank, FSB (Brookfield, Wisconsin) to assume all of Banks of Wisconsin's $127.6 million in deposits and $97.4 million in assets. The remaining assets (approximately $36.6 million) will be retained by FDIC for later disposition.

The recent slip in financial corporation profits comes at a particularly critical time for the financial sector, as housing is in the midst of a nascent recovery.

Mortgage Contracting Services (MCS), a national property preservation and inspection company, announced it is teaming up with Pruvan, a Round Rock, Texas-based company that offers a photo app for field-based businesses.

Freddie Mac announced that Richard C. Hartnack, formerly vice chairman and head of consumer and small business banking at U.S. Bancorp, has been elected as a director on the company's board.