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Bank of America has begun the process of paying out$ 7 billion in consumer relief as part of its record $16.65 billion  settlement with the U.S. Department of Justice and six states last August, according to an announcement on the settlement monitor's website. ...

The nation's first mortgage default index stayed flat in January while the national composite credit default index rose slightly for the sixth straight month, according to the S&P Dow Jones Indices and S&P/Experian Consumer Credit Default Indices for January 2015 released Tuesday. ...

With the nation's homeownership rates similar to those of 50 years ago, the foreclosure rate is significantly higher compared to the early 1960s. The main reason for the increase in foreclosure risk while the homeownership rate remains little changed is ...

Three of the nation's largest mortgage lenders have put sizeable packages of nonperforming and reperforming mortgage loans on the market for investors to buy, according to a release from New York-based loan broker Mission Capital Advisors. The loans being put on the ...

A nationwide survey conducted by Auction.com, a leading online real estate marketplace, showed a continuation in January of a trend seen in the fourth quarter of 2014 – that of investors' preference to flip houses rather than rent them out. Even as ...

Attorneys for investment firm Morgan Stanley made a motion in the New York Supreme Court Tuesday to have two lawsuits filed by the Federal Housing Finance Agency accusing the firm of failing to buy back $2.5 billion worth of faulty residential mortgage-backed ...

Foreclosures in the United States have been steadily declining for months nearly every way the numbers are broken down, and December was no exception, according to CoreLogic's December 2014 National Foreclosure Report released Tuesday. Foreclosure inventory nationwide dropped down to 552,000 in December, a ...

After suffering a setback in December, American attitudes toward the housing market recovered last month, with more consumers saying it is a good time to get off the sidelines. Sixty-seven percent of American adults responding to Fannie Mae's January National Housing Survey said now ...

U.S. payrolls increased more than expected in January, signaling a build in economic momentum as 2015 got underway. Employers nationwide added 257,000 new jobs last month, the Bureau of Labor Statistics said Friday. Economists projected a payroll increase of 230,000. Adding ...

Weeks ahead of the anticipated release of Ocwen's fourth-quarter earnings report, CEO Ron Faris has issued a notice that the company expects to see a loss based on mounting regulatory pressures, expenses, and a recent ratings downgrade by a major credit ratings agency. ...