Servicing

The seasonal surge in home sales combined with another drop in listings to further drive up prices in March, Redfin observed in its latest Real-Time Price Tracker.

With the price of a new home barely above year-ago levels, builder confidence fell for the third straight month in April, dropping two points to 42.

While rapid price gains have some analysts issuing warnings about a housing bubble in the making, newly released reports argue that a repeat of the 2008 crash is unlikely.

Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), announced the promotion of Fred C. Graham to deputy director of the Division of Federal Home Loan Bank Regulation. Graham has been with FHFA since its establishment in 2008 and has held several senior positions within the agency.

Churchill Mortgage, a Tennessee-based lender providing conventional and government-backed mortgages across 26 states, is expanding into Michigan with the opening of two branches.

David B. Lowman, a long-time senior leader in the mortgage finance industry, is joining Freddie Mac as EVP of the Single-Family Business effective May 20, the company announced.

Norcom Mortgage, headquartered in Avon, Connecticut, welcomed Lynn LaPierre on staff as a mortgage consultant. LaPierre brings more than 12 years of industry experience to Norcom. She joins the team from Village Mortgage, where she operated as a loan officer for the company's Collinsville branch.

After spiking one week ago, first-time claims for unemployment insurance fell sharply to 346,000 for the week ending April 6, a drop of 42,000, the Labor Department reported Thursday. Economists expected claims to fall to 365,000. Initial jobless claims for the week ending March 30 were revised up to 388,000 from the originally reported 385,000, increasing an unexpected 31,000 from one week earlier.

Specialized Business Software, a provider of custom software solutions for insurance, mortgage and financial services companies, announced the release of its web-based X12 EDI Translator.

Mortgage Guaranty Insurance Corporation (MGIC) announced the availability of mortgage insurance through INTEGRA Software Systems' loan origination software (LOS) systems.