The Mortgage Bankers Association (MBA) announced Wednesday that the company has closed on its new corporate headquarters, which will be located inside an environmentally-friendly building at 1131 L Street in Northwest Washington, D.

Brea, California-based Fremont General Corp. (FGC), which issues subprime mortgages through its subsidiary Fremont Investment & Loan, announced the completion of the sale of its remaining mortgage servicing rights to Litton Loan Servicing, LP, an affiliate of Goldman, Sachs & Co.

Philadelphia Mayor Michael Nutter announced Wednesday that the city is increasing its foreclosure-prevention initiatives by rolling out a hotline for distressed borrowers and a public service campaign to inform troubled homeowners about the options available to them.

Federal Reserve Chairman Ben Bernanke said in a statement Tuesday that financial conditions remain strained in the country with some key funding and securitization markets showing only minor signs of recovery, while lagging housing prices and skyrocketing oil expenses continue to create significant risks to growth.

For the 15th consecutive month in a row, single-family home sales in Rhode Island dropped in April, according to a new report from publisher and real estate data provider The Warren Group. The data provider elaborated on this phenomenon saying single-family home sales have dropped 18.

Housing Predictor, a research company that conducts real estate-related polls, has released a new survey which indicates that 56-percent of  Americans interviewed for the research project say they’ve lost faith in mortgage lenders.

New York State Senator Jeff Klein is one of several lawmakers supporting New York State Senate Bill 7028, a piece of legislation that would require the winning party in a foreclosure action to ensure a home is cared for properly, especially if a local neighborhood homeowners’ association requires that specific maintenance measures occur.

Cleveland, Ohio-based law firm Ulmer & Berne, LLP, which is known for representing publicly and privately-held companies and financial institutions, announced the formation of an internal Subprime Task Force this week.

CampusMBA, a division of the Mortgage Bankers Association (MBA) that furnishes the mortgage industry with up-to-date and relevant educational opportunities, said Monday that its new loss mitigation training program has another client in Republic Mortgage Insurance Co.

First American CoreLogic, a part of The First American Corp. family of companies, released its March 2008 LoanPerformance Home Price Index (HPI) on Monday, which indicates that two-thirds of all states have experienced a year-over-year drop in real estate values.