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First American DataTree Earns U.S. Patent for FlexSearch
First American DataTree®, the leading national provider of property data and document images, today announced that the United States Patent and Trademark Office has issued U.S. Patent #10,783,367 for FlexSearch™, an innovative property data search engine that instantly searches against any word, phrase, name or item in any recorded document nationwide. Based on a proprietary model of data acquisition and manufacturing, First American DataTree fully covers the U.S. housing stock and over 7 billion recorded document images. FlexSearch™ returns search results performed against billions of documents at once in just a few short seconds.
NAHB Files Complaint Regarding CDC's Eviction Moratorium Order
In partnership with Pacific Legal Foundation, the National Association of Home Builders (NAHB), along with Skyworks Ltd, Cedarwood Village LLC and Monarch Investment and Management Group, filed a complaint in the Northern District of Ohio challenging the U.S. Centers for Disease Control and Prevention’s (CDC) authority regarding its eviction moratorium order.
Existing-Home Sales Soar 9.4% to 6.5 Million in September
Existing-home sales grew for the fourth consecutive month in September, according to the National Association of Realtors®. Each of the four major regions witnessed month-over-month and year-over-year growth, with the Northeast seeing the highest climb in both categories.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 0.6 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending October 16, 2020.
Unmatched Accuracy, Confidence and Reliability: CoreLogic Launches New Automated Valuation Model
CoreLogic®, a leading global property data and analytics-driven solutions provider, today announced the launch of Total Home ValueX™, a new automated valuation model (AVM) that eliminates the need for multiple AVMs. Building on the existing Total Home Value suite, the new, single model methodology dramatically increases home value accuracy and hit rate for all AVM applications.
Single-Family Construction Continues Dramatic Climb
Single-family starts showed continued growth in September as overall housing production increased 1.9 percent to a seasonally adjusted annual rate of 1.42 million units, according to a report from according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Share of Mortgage Loans in Forbearance Declines to 5.92%
The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 40 basis points from 6.32% of servicers' portfolio volume in the prior week to 5.92% as of October 11, 2020. According to MBA's estimate, 3.0 million homeowners are in forbearance plans.
Builder Confidence Continues Record Climb
In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September, according to the latest NAHB/Wells Fargo Housing Market Index released today.
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Why are home prices rising so high? Blame record-low mortgage rates
When the coronavirus pandemic gutted the strongest U.S. economy, many assumed another recession would bring rock-bottom home prices along with it. Instead, home prices defied logical assumptions - and soared to new heights.

Mortgage Rates Fall To 50-Year Low
Mortgage rates have never been lower. That's the upshot from Freddie Mac's weekly Primary Mortgage Market Survey. As of October 22, 2020, Freddie Mac reported that rates on a 30-year fixed-rate mortgage (FRM) had dropped to 2.8%. The rate on a 15-year mortgage declined to 2.33%. Both had additional fees and mortgage points totaling 0.6% of the mortgage amount.

New Jersey Federal Court Dismisses Defamation Claim Against Title Insurer for Letter to Prior Property Owner Regarding Unpaid Mo
The United States District Court for the District of New Jersey recently dismissed a prior property owner's defamation suit brought against a title insurance company after the company sent a letter regarding a mortgage the seller failed to disclose or discharge.

New York Court Holds Principal of Title Agent Could Not Claim Fraud Against Title Insurer for Guaranty
The Supreme Court of New York, Kings County, recently dismissed a fraud claim brought by the principal of a title agent against a title insurance company, finding that any claim that the insurer misrepresented the terms of the guaranty-and there was no evidence supporting this claim-was irrelevant because the principal reviewed the guaranty before signing.

Pandemic speeds remote online notarization
To date, 26 states have authorized some form of RON legislation. The Mortgage Bankers Association and American Land Title Association have championed uniform RON legislation, which includes a model bill. Due to the pandemic, several states of have temporarily authorized RON or accelerated the implementation of enabling legislation.

US long-term mortgage rates fall to low; 30-year at 2.81%
U.S. long-term mortgage rates fell this week as the key 30-year loan reached a new all-time low for the tenth time this year. Home loan rates have marked a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year mortgage fell to 2.81% from 2.87% last week. By contrast, the rate averaged 3.69% a year ago.

U.S Mortgage Rates Slide to another All-Time Low
Mortgage rates fell to another all-time low in the week ending 15th October. Following a 1 basis point fall in the week prior, the 30-year fixed rate fell by 6 basis points to 2.81%. Compared to this time last year, 30-year fixed rates were down by 88 basis points.

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