Leading trade organizations urged the Treasury Department not to require nonbank mortgage originators and lenders to implement full-scale anti-money laundering (AML) programs, but only to file the so-called suspicious activity reports.

Following the virtual collapse of condominium prices in Florida and other markets, condo boards are adopting increasingly aggressive tactics to make up the lost fees from defaulting owners.

The risk of default on mortgages remains high as rising unemployment offsets the positive impact of lower or stable housing prices, University Financial Associates (UFA) said in its latest quarterly Mortgage Report.

The stock price of American International Group (AIG), the insurance company now 80 percent-owned by the U.S. government, has been on a roller coaster, shooting up to $56 a share last week before losing more than a third of its value again this week.

Presidents at two of the Federal Reserve regional banks see the housing market turning around, and one of them is ready to sing about it.

A Bank of America servicing unit for reverse mortgages in Seattle failed to comply with HUD rules on verifying that the properties continue to be principal residences and providing timely notice that the borrower has deceased, according to a HUD audit.

Profit in the Federal Reserve System has soared in the wake of the central bank's multiple efforts to rescue the financial system, according to various reports.