The number of foreclosure filings recorded in February of 2008 fell four-percent when compared to the month prior, but still showed no signs of relief when considering the foreclosure rate in February was still 60-percent higher than the rate recorded for the same period last year.

With the credit crunch causing millions of dollars in subprime-related losses, National City Corp. is looking for an escape route by putting the company up for sale, the Wall Street Journal reported this week.

The Mortgage Bankers Association (MBA), which annually distrubutes a report on mortgage fraud compiled by the Mortgage Asset Research Institute (MARI), LLC, released the organization’s 10th Annual Periodic Mortgage Fraud Case Report on Thursday.

ForeclosuresNH.com, a New Hampshire database that records and reports on foreclosures and REO data, released a report this week, saying foreclosures in the state jumped 62-percent between February of last year and February of this year, while also doubling between the first two months of 2008.

Six bills designed to curtail predatory lending and to stave off foreclosures in Pennsylvania passed the state Senate on Tuesday. Pennsylvania State Senator Pat Browne, who helped introduce the bills, says Senate Bills 483, 484, 485, 486, 487 and 488 will now be sent to the Pennsylvania House for consideration.

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The two government-sponsored enterprises (GSEs)—Fannie Mae and Freddie Mac—have more than met their minimum capital requirements, prompting the Office of Federal Housing Enterprise and Oversight (OFHEO) to lift the company’s portfolio growth requirements on March 1, 2008, OFHEO said in a recent report.

The Association of Community Organizations for Reform Now (ACORN), an organization that represents the needs of low-to-moderate income families, chose an unlikely staging area for its most recent demonstration: the Mortgage Bankers Association’s (MBA) Nonprime and Specialty Lending Conference at the Palmer House Hilton in Chicago.

A California auction company accused in a lawsuit of infringing on another auction platform’s copyrights and of violating standards of ethical business conduct has responded to the lawsuit saying all allegations are false and were created to stifle fair competition in the real estate auction marketplace.

A new poll of American cities concludes that about two-thirds of U.S. cities are reporting foreclosure increases for the year 2007 and one-third are experiencing revenue declines because of the increases, the National League of Cities (NLC) said in a recent report.