State

Local home prices rebounded in Southern Nevada in May despite slight decreases from March to April, according to statistics released by the Greater Las Vegas Association of Realtors (GLVAR). The GLVAR reported that the median price of existing single-family homes in the area was up 1.6 percent from April to $195,000.

The U.S. Department of Housing and Urban Development (HUD) announced it has entered into a Voluntary Compliance Agreement with the Englewood Housing Authority (EHA) in Englewood, Colorado. The settlement resolves allegations that EHA violated the Fair Housing Act when it implemented a point system at Orchard Place Apartments.

The U.S. Department of Housing and Urban Development (HUD) announced a recent agreement with the owner, builder, architect, and manager of a Seattle apartment complex. The settlement resolved issues stemming from allegations of discrimination against people with disabilities by failing to design and construct the 56-unit complex in a way that meets accessibility requirements of the Fair Housing Act.

The New Hampshire Housing Finance Authority (NHHFA) released foreclosure data for April, which found that 210 foreclosure deeds were recorded in the month, a 9 percent increase. This is the first time in over a year that the Granite State saw in increase when compared to the same month in the prior year.

April sales of Massachusetts single-family homes dropped 2.3 percent compared with the same month last year, according to the latest from the Warren Group. The percentage decline represents a decrease from 3,508 last year to 3,427 in April.

Massachusetts Attorney General Martha Coakley has sued the Federal Housing Finance Agency and mortgage giants Fannie Mae and Freddie Mac, alleging the companies' refusal to engage in foreclosure buyback programs is "unfairly and illegally causing Massachusetts families to lose their homes."

Foreclosures continue to be a national problem, and one metro's City Attorney thinks a large chunk of the problem came from discrimination. Los Angeles City Attorney Mike Feuer is suing one of the nation's largest banks, JPMorgan Chase, alleging the bank engaged in discriminatory lending.

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced the latest victory in its ongoing effort to protect taxpayers by combating fraud, waste, and abuse connected with the U.S. Department of the Treasury's Troubled Asset Relief Program (TARP). Michael Edward Filmore of Chesterfield, Missouri was sentenced to four years in federal prison and ordered to pay $6.5 million in restitution for defrauding Pulaski Bank.

The FDIC announced the closure of another bank, noting that Slavie Federal Savings Bank of Bel Air, Maryland has been closed. The FDIC entered into a purchase and assumption agreement with Bay Bank, FSB of Lutherville, Maryland to assume all the deposits of the recently shuttered Slavie Federal Savings Bank.

In Michigan, DLS Servicing Consultants and WorkSmart Database Masters have come together to release WaterfallCalc.com, a new Web-based Waterfall loss mitigation program for Federal Housing Administration (FHA) mortgages.