In Philadelphia, about 1030 African-American homebuyers may be eligible to receive funds from the $175 million discrimination settlement with Wells Fargo, the Pennsylvania Human Relations Commission announced Thursday.

While negative equity still continues to hinder the housing market's recovery, CoreLogic reported Thursday that the share of underwater mortgages declined. In the first quarter of 2012, the total number of underwater homes was 11.4 million, accounting for 23.7 percent of all residential properties with a mortgage. In the fourth quarter of 2011, 12.1 million properties, or 25.2 percent, were underwater. In addition, more than 700,000 households saw their equity move into the positive territory in the first quarter of this year.

U.S. District Judge Ann D. Montgomery ordered a Minnesota-based attorney to pay $75,000 for continuing to file and litigate show-me-the-note lawsuits designed to thwart foreclosure proceedings, MERSCORP Holdings announced Thursday.

The number of markets showing sustained and measurable improvements rose to 84 in July from 80 in June, according to the First American Improving Markets Index (IMI) released from the National Association of Home Builders (NAHB). July's IMI includes 73 metros from June's list and 11 new additions. New list entries noted by NAHB were Prescott, Arizona; Springfield, Massachusetts; St. Cloud, Minnesota; and Houston, Texas. ""The modest increase in the July IMI is encouraging because it indicates that individual housing markets continue to regain their footing despite some recent reports of weakening in the broader economy,"" said NAHB Chief Economist David Crowe.

In the first half of this year, over 1 million U.S. properties received a foreclosure filing, according to a midyear foreclosure report released by RealtyTrac. The exact figure - 1,045,801 - marks a 2 percent increase from the previous 6-month period and an 11 percent decrease from the first half of 2011. Second quarter foreclosure starts totaled 311,010, a 9 percent increase from the previous quarter and a 6 percent increase from a year ago. The increase is the first yearly rise in quarterly foreclosure starts since the fourth quarter of 2009.

CoreLogic and FICO joined forces to create a consumer credit risk score that is expected to improve how lenders makes decisions and boost the number of mortgage loans made.

Based on its database, YouWalkAway.com foresees an inevitable decrease in property values due to backlog and delays in processing foreclosures. In Florida, 45 percent of YouWalkAway.com clients are in pre-foreclosure status, and on average, they are 17 months past due and still have not received their first formal foreclosure notice. In California, 59 percent of the agency's clients are in pre-foreclosure status, and on average, they are 15 months behind and still haven't received a foreclosure notice. ""This data points to significant backlog, eventual foreclosure activity and predicts a drop in value for home prices,"" said YouWalkAway.com CEO Jon Maddux.

Interthinx announced the addition of two executives to its team. Jim Portner has joined Interthinx as VP of product for origination solutions, and Nick Volpe was selected to lead as VP of capital markets and servicing.

San Francisco, San Jose and Las Vegas metro areas were named as the top markets for sellers, while Chicago, Milwaukee and Cleveland were categorized as markets where buyers have more power, according to data released from Zillow Tuesday. In the top sellers' markets, price cuts are uncommon and homes often sell for at or near their asking price. In markets where buyers are favored, homes are taking longer to sell and buyers receive discounts averaging 5 percent below the asking price.

Wilford, Geske & Cook, P.A. (WGC) hired a Greta L. Burgett to join the firm's team of attorneys.