The title insurance industry may see an increase in business in the coming months, as consumers have shown they are more interested in owning a property and mortgage conditions continue to strengthen.

Overall mortgage credit availability rose to 115.8 in June, 0.6 percent higher than May's level of 115.1, according to the Mortgage Credit Availability Index from the Mortgage Bankers Association. While both levels were significantly higher than the benchmark of 100, the increase meant that overall credit lending standards are showing signs of loosening.

There were some notable reasons for the improvements from May to June. The report showed that the overall loosening of lending criteria from the Department of Veterans Affairs and the Federal Housing Administration led the way on this change. This is due to these alterations affecting maximum loan-to-value ratios and minimum credit score requirements.

Foreclosures become a lesser issue
Another major aspect that may determine an improvement in mortgage market health is the recent improvements in overall foreclosure frequency. According to a report from RealtyTrac, the total level of foreclosures during the first six months of 2014 reached just 613,874 units. This was nearly 20 percent lower than the second half of 2013, as well as 23 percent lower when comparing year-over-year figures.

In June, foreclosure actions occurred on 107,194 units, 16 percent lower than the same month last year, as well as 2 percent lower than in May, the report showed. The last time the level was at such a low point was in July 2006, which was previous to the bubble bursting.

Even with the improvements, there is still some caution from experts due to certain region-specific issues.

"There continue to be concerning trends in some states and local markets that clearly indicate those markets are not completely out of the woods when it comes to the lingering foreclosure problem left over from the housing bust," said Daren Blomquist, vice president of RealtyTrac. "While it's important that any remaining foreclosure infection is addressed promptly to keep it from festering, foreclosures are no longer a widespread contagion threatening to derail the housing market's return to full health."

When examining foreclosure starts, there were just 47,243 units in this measurement during June, the report noted. That level was 18 percent lower than June 2013, as well as 4 percent lower than May's figure.