New paperless mortgage technology hits the streets

Real estate technology company a la mode has launched new paperless mortgage technology for loan originators, according to an announcement today.

A la mode's SureDocs creates a PDF digital file from any desktop application a user can print – including their loan origination system, word processing or spreadsheet software. The digital documents are easily stored, retrieved and manipulated.  more...

Proposed Ohio title insurance rules get boost

After two years of hanging in limbo, legislation requiring that Ohio home buyers be told about the protections afforded by homeowner's title insurance is now part of a faster-moving bill, the Cincinnati Enquirer reported today.

State Rep.  more...

Fed statement worries markets, hikes real estate rates

Mortgage rates increased this week after the Fed, which raises its federal funds rate to 4.75 percent on Tuesday, said more increases may be needed to control inflation, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage inched up to an average 6.35 percent for the week ended today, up from last week's average of 6.32 percent. The average for the 15-year fixed is 6 percent, up from last week's average of 5.97 percent.  more...

Chicago Title adopts tool for paperless mortgage

Chicago Title Insurance Co., an affiliate of Fidelity National Title, has signed an agreement with Document Processing Systems to use its paperless mortgage technology, DPS eMortgage Studio, the companies said today.

Chicago Title will first begin rolling out this new system to its Chicago-area branches, and will continue expansion efforts as lenders and other customers come online, the company said.

DPS' patent-pending document management system, the DPS eMortgage Studio, provides Web-based access to a fully paperless, MERS eRegistry-accessible electronic mortgage process.  more...

Democrats question banking regulator's real estate rulings

Democrats speaking on a U.S.  more...

Canada posts growth in existing-home sales, prices

Canadian existing-home sales via the Multiple Listing Service rose to their fifth-highest seasonally adjusted monthly level on record in February, and average prices hit new highs, according to statistics released by The Canadian Real Estate Association.

According to CREA's statistics, seasonally adjusted MLS home sales in February rose by two-tenths of a percentage point to 41,555 units compared to the previous month. A monthly increase in sales activity in Ontario and Quebec more than offset a decline in transactions in British Columbia.  more...

Southern California rents, occupancy to rise

Southern California apartment rents and occupancy rates rank among the highest in the country, and economic gains should push these levels higher, according to a forecast released today by the University of Southern California Lusk Center for Real Estate.

About 97 percent of apartments in Los Angeles, Orange, Riverside and San Bernardino counties are rented and those occupancy rates should remain steady this year, according to the Casden Real Estate Economics Forecast.

Rent increases of 6 percent to 7 percent are forecast in  more...

Michigan apartment complex hit with fair-housing violation

The U.S.  more...

Overnight real estate rates advance

Long-term mortgage interest rates were up Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.81 percent.

The 30-year fixed-rate average climbed to 5.93 percent, and the 15-year fixed-rate edged up to 5.62 percent. The 1-year adjustable held at 4.94 percent.

The 30-year Treasury bond yield jumped to 4.84 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...