Secondary

One-third of the nation's counties now have access to e-recording software, according to the Property Records Industry Association,

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor.

Mortgage applications declined for the third consecutive week as fewer borrowers are choosing to refinance due to rising interest rates.

A renewed interest in subdivisions that stalled during the recession is likely the main reason the California Debt and Investment Advisory Commission reported doubling of refunding volume in land-secured Mello-Roos bonds from fiscal year 2011-12 to 2012-13, according to government consultant Larry Kosmont.

Industry observers have mixed reactions on whether next year's Republican-controlled Congress will finally address long-stalled efforts to reform Fannie Mae and Freddie Mac.

Commercial mortgage-backed security delinquencies declined during October, according to Fitch Ratings.

Mortgage insurers Radian Guaranty Inc. and MGIC Investment Corp. both saw their inventory of delinquent loans drop during October.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

While the government-sponsored enterprises' move to allow down payments as low as 3% comes with some inherent risks, Fannie Mae executives are confident they can responsibly administer the new guidelines to ensure they're an effective tool for increasing access to credit.

Borrowers must have other factors such as housing counseling, stronger credit histories, or lower debt to income ratios to qualify for new low-down-payment loans, said FHFA Director Mel Watt.