The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
Joseph Smith provides update on national mortgage settlement consumer relief distribution through Dec. 2012
The national homeownership rate ended last year at the lowest level since 1996. When adjusted for seasonal variation, the current homeownership rate (65.3 percent) was lower than the rate in the fourth quarter 2011 (66.0 percent) and approximately the same as the rate last quarter.