Tag Archives: Attorneys & Title Companies

The number of homes purchased with cash in California reached an all-time high in 2012 as the mortgage environment kept other interested buyers out, according to DataQuick, a real estate information service. The company's data shows a total of 145,797 condos and houses were bought without mortgage financing in 2012, up from 125,812 in 2011 (the previous high) and 39,731 in 2007. According to DataQuick's John Walsh, the increase comes from high investor interest and a currently difficult mortgage environment.

Genworth's U.S. Mortgage Insurance (USMI) unit unveiled a new set of underwriting guidelines designed to allow lower credit scores and eliminate nearly all geographic restrictions.

HUD announced Friday the issuing of a final rule to formalize a national standard for determining whether a practice violates the Fair Housing law based on an unjustified discriminatory effect. According to the agency, the rule establishes a three-part test that shifts burden of proof in a discriminatory housing case back and forth between the plaintiff and defendant. It is designed to address recent debates over whether or not a housing practice can be considered discriminatory if it seems neutral on the surface.

Lender Processing Services, Inc. (LPS) announced the appointment of Dan Carmichael to its board of directors. Carmichael also serves as the chairman of the board at Platinum Underwriters Holdings and is on the board for EagleEye Analytics and Dovetail Insurance Corporation. In addition, he is an advisor to FirstMark Capital.

Loan originators saw a 21.9 percent rise in the number of "locked-in" loans last week, according to Optimal Blue and Mortgage Daily.

Capital Economics forecasts the S&P 500 equity price index will end 2013 close to the current level of 1,500 and expects home prices to rise in the neighborhood of 5 percent. In turn, the growth in household wealth, the firms says, could lift GDP by around 0.7 percent. The most recent Flow of Funds report for Q3 2012 showed net household wealth grew to about $64.7 trillion. Capital Economics says the Q4 report, due March 7, is likely to show an increase of household wealth to around $65.1 trillion.

Avison Young, a commercial real estate (CRE) services company headquartered in Toronto, Ontario, announced David Linsmayer has joined the company's brokerage operations in San Francisco. Effective immediately, Linsmayer joins Avison Young as a principal.

Zillow, Inc. announced that HGTV&'s FrontDoor website is joining the Zillow Real Estate Network in the next quarter.

Bank of Commerce Mortgage (BOCM) is expanding its operations in Denver, the company announced. According to a release, BOCM's Denver office saw significant growth in loan volume and staff in 2012, necessitating the move to a larger office space.

Homebuyer interest got off to a strong start in 2013, according to Redfin's Real-Time Demand Pulse for February.