Technology

Home prices in 20 U.S. cities rose at a faster pace than projected in the year through March, reflecting a limited number of available properties on the market.

Existing home sales in May will increase by 5.8% from the same month last year, the real estate marketplace Auction.com predicts. The company also expects existing home sales to rise 2.9% from April.

Home purchase loans have once again taken the majority share of originations, although volume shrunk by 11% from the same time last year.

Purchases of previously owned homes unexpectedly fell in April, a sign the industry's recovery remains uneven.

VidVerify, a new company started by a co-founder of Lenders One, produces online videos that educate borrowers on the milestones of the mortgage process, while helping lenders ensure regulatory compliance.

The Commercial Real Estate Financing portal allows investors to apply for financing through Auction.com with the company's preferred lenders.

With older appraisers retiring and fewer and fewer college graduates entering the profession, industry observers say that, in five to 10 years, there won't be enough appraisers to handle the volume of home sales. For lenders, that could mean higher appraisal fees and long delays in closing loans — at a time when technology could be speeding up the process.

AllRegs has published the next edition of the Federal Housing Administration's Single Family Housing Policy Handbook that includes updated regulations and requirements that take effect in September.

Black Knight Financial Services Inc., the mortgage-technology company backed by private-equity firm Thomas H. Lee Partners, gained in its trading debut after raising $441 million in an initial public offering.

New residential construction surged in April to the highest level in more than seven years, indicating the industry regained its footing after the soft patch at the beginning of the year.