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Sparking indignation in the mortgage broker community, Raj Date, deputy director of the Consumer Financial Protection Bureau, laid the bulk of the blame for the housing crisis on brokers during a speaking engagement Monday. His statements have led at least one industry trade group to call for his resignation. Marc Savitt, president of the National Association of Independent Housing Professionals, called Date's comments ""outrageous."" He said the group will call for the official's resignation this week.

Investors and lenders should expect loans currently originated to have a 20 percent higher chance of default than those originated in the '90s due to current economic conditions, according to the University Financial Associates (UFA). The UFA Default Risk Index rose slightly to 120 in the second quarter of 2012 from 119 compared to the previous quarter. While loans currently originated are more likely to default than those from the '90s, loans originated today are still much less likely to default compared to vintages from 2006 to 2008.

According to the data, Massachusetts, Connecticut, and Rhode Island have all seen strong mortgage activity so far in 2012, with Massachusetts showing the strongest numbers. Activity in the state is up more than 28 percent, rising to 99,097 in the first four months of the year-an increase from 76,930 during the same period in 2011. Purchase mortgages increased almost 13 percent year-over-year to 13,376, while non-purchase (refinance) mortgages slid up 32 percent to 85,721.

With vacancies declining and rental prices rising, the climate in the housing industry is clearly warming up to rental properties. According to Moody's Analytics, ""weak income gains, favorable demographics, and the foreclosure crises"" are all causing people to choose renting over buying, and demand for rent will remain solid over the next two years.

Foreclosure activity in May was marked by lenders being impacted by local market conditions rather than any national trend, according to ForeclosureRadar's May 2012 Foreclosure Report. The report examined all foreclosure activity - sales, starts, and timelines - for Arizona, California, Nevada, Oregon, and Washington in the month of May. While foreclosure starts and sales rose overall between the five states, individual activity widely varied.

Through National Foreclosure Mitigation Counseling (NFMC), more than 1.3 million homeowners have received foreclosure prevention counseling by local nonprofits and state housing finance agencies since March 2008, NeighborWorks America announced Monday. So far, the NFMC has also received six appropriations from Congress totaling $619.87 million. According to a report, NFMC clients who had their payments modified saved an average of $176 more per month, and those who received help were nearly twice as likely to obtain a modification.

The Department of Housing and Urban Development (HUD) announced Thursday that Bank of America has agreed to pay $161,180 to settle allegations of maternity-based discrimination. A complaint had been filed by the Fair Housing Council of Orange County (FHCOC) against BofA alleging that one of its San Jose branches refused to refinance a woman's mortgage because she was on maternity leave. The Fair Housing Act prohibits discrimination in mortgage lending and real estate-related transactions based on race, color, national origin, religion, sex, family status, or disability.

If fraudulent documents are found in a foreclosure case, should banks be able to voluntarily dismiss the foreclosure then re-file the case after fixing the error? The answer to this question is currently being decided by the Florida Supreme Court, which heard arguments May 10 for a case titled Roman Pino v. Bank of New York Mellon. If the court does rule in favor of Pino, this would mean servicers would no longer be able to fix documents and refile foreclosures, which would stall or lead to the dismissal of foreclosure cases and make it even more difficult for the judicial state to proceed with foreclosures. While a decision has not been made, Moody's Analytics said the ruling is not likely to fall in favor of the defendant Pino, who is the homeowner the bank tried to foreclose on using a fraudulent assignment of mortgage.

Declines in the share of REO properties and in the months' supply of unsold inventory are all leading to a revival in home prices, and these drops are being driven, in part, by negative equity, CoreLogic concluded in a report. Prices rose by 1.1 percent in April compared to the year before and 2.2 percent from the month before in March. One factor helping boost prices is the decreasing months' supply of homes. While a lower supply during a time of increasing demand is a positive for home prices, Sam Khater, chief economist for CoreLogic and author of the report, explained negative equity is the main reason behind the low supply, not an increase in sales. Negative equity not only makes consumers more reluctant to buy, but it can also discourage homeowners from selling, leading to a smaller number of homes listed on the market.

The FDIC's Deposit Insurance Fund (DIF) took a combined hit of approximately $80.8 million Friday after the closure of four banks. First Capital Bank in Oklahoma was announced by the FDIC as the first Oklahoma bank and the 25th bank overall to close in 2012. That announcement was followed by three more announcements of the closings of Carolina Federal Savings Bank in South Carolina, Farmers and Traders State Bank in Illinois, and Waccamaw Bank in North Carolina.