Origination

DataQuick unveiled Market Intelligence TitleShare, an analytics engine offering insight into title transaction and lending trends from the company's property, sale, and mortgage information database.

Carrington Holding Company selected Christopher Whalen to head communications. As EVP, Whalen will take responsibility for media relations and communications for the group. He will also continue to lead industry research and support Carrington's corporate finance activities.

The nation's economy added 162,000 jobs in July as the unemployment rate fell to 7.4.percent, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 175,000 and that the unemployment rate would dip to 7.5 percent. The financial sector added 15,000 jobs in July, up from the average of 10,000 for May and June. New financial jobs included 3,600 underwriters and 3,000 new real estate jobs, reflecting the uptick in home sales.

Carrington Mortgage Services has announced it has expanded its portfolio of government loan programs by offering U.S. Department of Agriculture (USDA) loans through its retail and wholesale lending operations.

According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.39 percent (0.7 point) for the week ending August 1.

First time claims for unemployment insurance dropped to the lowest level in five years, falling 19,000 to 326,000 for the week ended July 27, the Labor Department reported Thursday. Economists expected the number of claims to drop to edge up to 345,000, from the 343,000 originally reported for the week ended July 20.

While rising mortgage rates have set potential homebuyers scrambling, a poll from Redfin finds sellers are also concerned about the development. According to the survey, 47 percent of sellers said they are worried about a spike in rates driving down buyer demand, up from 23 percent in the last poll. An increasing percentage of homeowners are also anticipating larger price gains, though concerns over rising prices eased, falling from 32 percent to 29 percent quarter-over-quarter.

Despite concerns about rising mortgage rates and low inflation, the Federal Open Market Committee (FOMC) voted Wednesday to continue its policy of near-zero interest rates and its $85-billion-per-month bond-buying program. In a subtle change of language, the committee "reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends."

DocuTech Corp., a compliance and documentation technology provider headquartered in Idaho, hired Frank Colson as product manager.

June saw a decline in the number of private mortgage insurance policies issued, though dollar volume for those policies increased, according to the latest monthly report from Mortgage Insurance Companies of America (MICA). Member companies issued a combined 49,666 insurance certificates, down from 52,545 in May. June's decline was the first since February. While policies fell, dollar volume rose, jumping to nearly $12.3 billion from May's $12.0 billion.