Technology

House prices rose 1.8% in May as the CoreLogic house price index registered its third consecutive monthly increase this spring, and its new pending HPI is indicating that prices will rise another 1.4% from May to June.

Attorney Robert Maddox, who represents Ally Financial, calls the landmark foreclosure settlement earlier this year "a Trojan horse for the government to fix perceived problems in mortgage servicing" but others dispute the view that the punishment was too severe.

CoreLogic released numbers showing there were 63,000 completed foreclosures in May, compared to 77,000 finished foreclosures during the same time period last year.

The nomination deadline for the 2012 Mortgage Technology Awards has been extended until 12 p.m. EDT Tuesday, July 10.

The Mortgage Bankers Association reported that the average profit per loan originated in the first quarter was $1,654, up from $1,093 in the fourth quarter.

The stock market soared upwards on Friday morning and that rising tide also brought up many stocks associated with the mortgage industry.

Brian Vieaux has joined Flagstar Bank as senior vice president and head of its home lending division.

The operators of an allegedly deceptive mortgage modification business will pay more than $750,000 in ill-gotten gains to settle Federal Trade Commission charges. The settlements also permanently ban the 11 defendants from selling any mortgage assistance relief products.

Despite recent advances by credit scoring companies, the mortgage industry still questions whether credit scores can be relied on to predict borrower behavior.

Despite 12 years of education to the industry, there are still a lot of misconceptions out in the trenches about what e-mortgages are and where they can be used.