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Expectations among bank risk professionals for the relaxation of lending standards increased sharply in the first quarter, rising from 12.1 to 19.9 percent, according to the quarterly FICO/PRMIA survey. One out of five bank risk professionals now expect the approval criteria for loans to become less stringent, the third highest level ever registered for looser lending standards in the three year history of the FICO survey. The rising expectations for looser standards is a reversal of bankers’ views in the fourth quarter of 2012, when only 12.1 percent expected standards to become less stringent, the lowest level in survey history.

While the Federal Housing Administration still faces challenges ahead, the agency has already taken a number of significant steps to mitigate risk and increase the solvency and strength of the mortgage-insurance fund.

(MCT)—As part of a settlement with federal regulators, 13 lenders this week are starting to pay out $3.6 billion to more than 4 million troubled borrowers whose homes were in foreclosure proceedings in 2009 and 2010.

Look out 90210; a new ZIP code in Aspen, Colo., is making California-sized waves. Recently, Coldwell Banker Previews International®, the Coldwell Banker brand’s luxury real estate marketing program,

I hear a lot about the Federal Housing Administration, and much of it is simply wrong. “The FHA is the next subprime.” Untrue. “The FHA caused the housing crisis.” Also untrue. There is a lot of misinformation making the rounds, which helps neither brokers nor buyers. Here’s the low-down on what brokers or buyers’ agents need to know. What is FHA? The Federal Housing Administration, which was founded in 1934, is part of the U.S. Department of Housing and Urban Development. The FHA insures loans made by the private market; it does not itself lend money. Its purpose is to provide access to safe, affordable financing when the private market cannot or will not participate. What are the benefits/drawbacks of an FHA loan? Historically, these loans have featured low down payments, closing costs and credit score requirements.

Clear Capital, a provider of data and solutions for real estate asset valuation and collateral risk assessment, recently released its Home Data Index(TM) (HDI) Market Report with data through March 2013.

CoreLogic® recently released its National Foreclosure Report for February, which provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic, there were 54,000 completed foreclosures in the U.S. in February 2013, down from 67,000 in February 2012, a year-over-year decrease of 19 percent. On a month-over-month basis, completed foreclosures fell from 58,000* in January 2013 to the February level of 54,000, a decrease of 7 percent.

New home sales were down 4.6 percent in February from January but up 12.3 percent from a year ago. The drop in February was from an elevated January that was the highest since mid-2008.

Regional Spotlight—The recovery year for the local housing market is evident in recent statistics - showing 2012 mortgage activity in New England at the highest level in five years,

The strong jobs report and the rebound in consumer confidence in February suggested that businesses and consumers set aside their worries about fiscal drag ahead of the looming sequestration deadline, according to Fannie Mae’s Economic & Strategic Research Group. Activity in both the stock and housing markets also picked up recently and continues to act as a tailwind for the economy. Furthermore, the pace of manufacturing and service activity has expanded at a healthy pace and should contribute to growth this quarter. Although income and consumer spending took a hit at the start of the year and may slow again due primarily to tax increases, overall economic growth is expected to pick up in the second half of the year, coming in at 2.1 percent in 2013.

As homeowners receive their annual property assessments and taxable valuations in the mail, many will see the continued drop in the value of their home. Despite recent reports of declining "underwater" homeowners in the fourth quarter of 2012, there are still many homeowners looking for help. "Property values are starting to creep up in some areas, but many homeowners are still underwater and owe more than their home is worth," saiys Rick Bialobrzeski, GreenPath Debt Solutions director of communications. "Each week, we talk to hundreds of homeowners who are having trouble keeping up with their mortgage payments."

February pending home sales flattened with limited buyer choices, but remained at the second highest level in nearly three years, according to the National Association of REALTORS®.

CoreLogic, a leading residential property information, analytics and services provider, reported recently that the overall shadow inventory is down 28 percent from its peak in January 2010, when it reached 3 million homes. Current residential shadow inventory as of January 2013 was at 2.2 million units, representing a supply of nine months. This figure represents an 18-percent drop from January 2012, when shadow inventory stood at 2.6 million units. CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of properties that are seriously delinquent, in foreclosure and held as real estate owned (REO) by mortgage servicers, but not currently listed on multiple listing services (MLSs).

A recent study from the National Association of Home Builders (NAHB) shows variations in home buyer preferences with regards to home size when it comes to age, race and ethnicity. NAHB’s “What Home Buyers Really Want,” surveyed more than 3,600 home buyers across the country on various characteristics of new homes. Based on the results, the median desired home size is 2,226 square feet. However, a closer look at the data broken down by buyer characteristics shows significant differences in how large a home different types of buyers want. Age plays an important role in a buyer’s preferences, with the amount of space requirements dropping steadily

Freddie Mac recently released its U.S. Economic and Housing Market Outlook through March showing that as we head into the spring home buying season, continued low mortgage rates, increasing house prices, and gradually improving consumer confidence will help support increased home sales. A short preview video and the complete March 2013 U.S. Economic and Housing Market Outlook are available here. Outlook Highlights • Compared to 2012, expect home sales to be up 8 to 10 percent for 2013. • Expect housing starts to increase to 950,000 units for 2013, compared to 780,000 in 2012. • In 2012, real estate added $1.5 trillion to balance sheets, and residential mortgage debt