Following allegations of racial and gender discrimination at the Consumer Financial Protection Bureau, the bureau’s director, Richard Cordray spoke before the House Financial Services Committee Wednesday.

Despite an anticipated pickup in economic growth and housing recovery in the second half of this year,Fannie Mae expects the economy to grow at just 1.5 percent overall this year.

Credit standards at large lenders appear to be loosening somewhat, while criteria at small and mid-sized lenders appear to be tightening, according to a new survey from Fannie Mae. Fannie Mae surveyed executives at its lending customers during the first two quarters of this year for its first ever Mortgage Lender Sentiment Survey.

While home prices continue to decelerate on an annual basis after reaching peak speed in February, price gains did pick up slightly from April to May, according to FNC's latest price index.

GFS Capital Holdings, formerly Greenlight Financial Services, settled a claim with HUD regarding discrimination of women on maternity leave. The company agreed to pay a total of $48,000 to individuals against which it allegedly discriminated. HUD investigated Greenlight after a family complained the company denied their refinance loan application because the wife was on maternity leave at the time.

Mortgage performance is on the rise, and foreclosures are on the decline at the nation’s largest banks, according to the first-quarter Mortgage Metrics Report from the Office of the Comptroller of the Currency (OCC). Representing 48 percent of outstanding first-lien residential mortgages, the OCC report includes data on mortgages at the nation’s seven largest servicers, based on portfolio size, and one federal savings association.

While persistent price gains continue to dominate headlines, homes in a majority of major markets across the country remain slightly undervalued, quashing any concerns of a rising housing bubble, according to the latest data from Trulia. Nationally, homes remain undervalued by 3 percent compared with long-term fundamentals, according to Trulia's Bubble Watch.

Home flippers reported more gains in 2013 than in any year on record, according to national real estate brokerage Redfin. The average home flipped last year was sold for $90,200 more than it was purchased, and in 11 of the 30 markets Redfin analyzed, flippers received gains of more than $100,000 per house.

Home purchases made with cash are on the decline across the country, according to Zillow, but cash sales still make up a significant portion of the lower-priced home market in many areas. Cash sales declined year-over-year in the first quarter in 102 of the 126 metro areas Zillow observes. Zillow chalked up the decline to waning investor demand and a resurgence of traditional buyers in the market.

In its latest semiannual report to Congress, the Department of Housing and Urban Development Office of Inspector General (HUD OIG) touted its efforts in bringing in more than $48 million in restitution and judgments over the six months ending at the end of March. HUD OIG also recovered close to $24 million for HUD programs during the six-month period.