NeighborCity®, an online residential real estate ranking service, announced their newest service, AgentMatch® this week. AgentMatch® is a unique service that rates virtually all active residential real estate agents across the country to match the best performing agents with the specific needs of home sellers and buyers. Agents’ profiles and ratings are compiled on each agent’s historical listing and transaction experience and analyzed through a number of performance dimensions that are most important to the consumer. AgentMatch then delivers an overall agent score along with a number of metrics and graphs that illustrate that specific agent’s past performance.

Since the end of 2011, foreclosure filings increased in 26 out of 50 of the largest cities in the U.S., according to RealtyTrac. The top on the list is Pittsburgh, where foreclosures increased drastically – 49% – from the previous three months. Some cities, however, still showed continued declines in foreclosure filings from the end of last year. In Portland, Ore., filings dropped 28%, and in Las Vegas, they fell 26%.

This week, Nationstar acquired MetLife’s reverse  mortgage portfolio. MetLife will be exiting the mortgage business, so they are no longer accepting new applications for reverse mortgages. According to HousingWire, “MetLife first broke the news to loan brokers on a conference call in April. One reason given, sources say, is that the Office of the Comptroller of the Currency’s consent order facilitated the decision.” HousingWire also mentioned that “MetLife’s entire retail banking business, including mortgages, represented less than 2% of its 2011 operating earnings. Given its strategic focus as a global insurance and employee benefits leader, MetLife decided in 2011 that a bank holding company structure was no longer appropriate.”

Fixed-mortgage rates are at near-record lows this week. The drop comes as the market awaits the Federal Reserve’s monetary policy announcement, which was in deliberations for nearly two days.  A survey, conducted by Freddie Mac, showed the 30-year FRM averaged 3.88% this week, inching down from last week’s 3.90% average. This time last year, the 30-year FRM averaged 4.78%.  Meanwhile, the 15-year FRM averaged at 3.12%, down a hair from last week’s average of 3.13%. Last year, the 15-year FRM average was 3.97%. Additionally, five-year, Treasury-indexed hybrid adjustable-rate mortgages averaged 2.85, up slightly from last week’s average of 2.78%, and down from 3.15% the year before.

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