A new study conducted by Trulia and RealtyTrac found that 56 percent of U.S. renters and 47 percent of current homeowners are at least ""somewhat likely"" to purchase a foreclosed home. Along with having some concerns about hidden costs and still-declining home values, many potential buyers expect to save money if they buy a foreclosure. On average, survey respondents said they would expect to pay 38 percent less for a foreclosed home than a similar home that was not in foreclosure - not too far above today's average discount of 36 percent.

Loans backing commercial mortgage-backed securities (CMBS) that were liquidated at a loss in the first quarter carried an average loss severity of 38 percent, according to Moody's Investors Service. That figure represents a decline from 40 percent for the previous quarter and was the first reduction in the severity of losses since the fourth quarter of 2008. During the month of April, CMBS loans totaling $2.9 billion became newly delinquent, while previously delinquent loans for $3.0 billion became current, worked out, or were liquidated.

The new Consumer Financial Protection Bureau (CFPB) aims to avert at least one hitch in the home loan process that some market experts say started a whirlwind of mortgage delinquencies - ensuring consumers have a clear understanding of the cost associated with their mortgage. CFPB unveiled two prototypes for a new regulatory disclosure form Wednesday that the agency will begin testing this week. Each of the prototypes combines the two-page TILA disclosure and the three-page RESPA disclosure into a single, abbreviated form.

ISGN, a provider of end-to-end technology solutions and services to the U.S. mortgage industry, announced this week that the company has named Raghavan Tiru as its chief information officer. ISGN says Tiru has been instrumental during his career in the financial services field in designing and developing advanced information technology initiatives for applications consolidation and platform migration that have saved companies millions of dollars.

Lender Processing Services (LPS) says market data it's pulled through the end of April reveals an increase in the national mortgage delinquency rate and a drop in the industry's foreclosure inventory. Both stats did a complete u-turn from the trajectory they were on the prior month. LPS says the ratio of mortgages 30 or more days past due but not yet in foreclosure rose to 7.97 percent in April, while properties in the midst of the foreclosure process declined to 4.14 percent.

Industry analysts, economists, even lawmakers generally concede that the pooling of risky subprime mortgages into secondary market securities fueled the economic collapse that almost brought the nation's financial system to its knees. But New York Attorney General Eric Schneiderman is looking for proof that major financial institutions were hocking these dicey mortgage-backed securities during the days leading up to the collapse of the housing market, knowing that these transactions would result in billions of dollars in mortgage losses.

Fannie Mae sent a notice to its lenders and servicers Tuesday announcing that the GSE has approved a unit of Genworth Mortgage Insurance Corporation to provide mortgage insurance for conventional first mortgage loans. Yhe subsidiary, Genworth Residential Mortgage Assurance Corporation, is approved to write coverage on Fannie Mae loans in a limited number of states, which the GSE says may change over time.

Foreclosure activity slowed in April in states along the country's West Coast, but a local firm that tracks every foreclosure action in the area is having trouble making sense of what it says is an unexpected trend. According to ForeclosureRadar, filings last month were down in Arizona, California, Nevada, and Washington. Cancellations were up significantly across the board, leaving fewer properties scheduled for trustee sale. ForeclosureRadar says banks have had time to resolve robo-signing issues, so we should be seeing exactly the opposite results.

Mortgage Contracting Services LLC (MCS) announced Tuesday the addition of Charles Mangan as assistant vice president of operations. Working out of the Dallas office, Mangan will oversee property preservation activity of the company's REO clients and contribute to MCS' overall strategy for preserving the country's communities while also minimizing servicers' risks and costs to do so, according to a statement from the firm.

Ohio Attorney General Mike DeWine has filed a lawsuit against The Modification Group LLC, a Cleveland business that offered to help homeowners avoid foreclosure in exchange for upfront fees. The lawsuit alleges multiple violations of Ohio consumer law, including failure to deliver. The attorney general's office currently has 70 complaints against the company dating back to December 2009. DeWine is seeking civil penalties and full restitution for consumers.