The U.S. Senate's chief Democrat, Majority Leader Harry Reid (Nevada), said Wednesday that his party has reached a consensus to extend the first-time homebuyer tax credit, which is set to expire November 30.

ProVest, a national process server management company, has opened an office in California to support the state's needs with evictions, litigation, and home retention efforts.

Mortgage demand took another dive last week, despite moderating mortgage interest rates, according to the Mortgage Bankers Association's (MBA) Wednesday report.

HomeTelos, a Dallas-based firm that develops Web-based solutions to support the management and marketing of real estate assets, says its Loan Exit Option (LEO) program has demonstrated market success as an effective approach in avoiding foreclosure for borrowers, investors, and mortgage servicers.

Even as the Treasury is going public with its expectation that banks' will be quick to repay their bailout money, GMAC Financial Services is asking the government for more cash.

Cities in California, Florida, and Nevada are still home to the 10 metro areas with the highest foreclosure rates, according to a new report released Wednesday by RealtyTrac.

The federal bankruptcy court in Rhode Island announced it would follow a loss-mitigation program pioneered in New York that applies when a debtor's principal residence is at risk of foreclosure.

While recent changes to the Internal Revenue Service's rules relating to modifications held by real estate mortgage investment conduits (REMICs) allow more flexibility in restructuring commercial mortgage-backed securities, the overall impact of the changes is not expected to be significant, the Mortgage Bankers Association (MBA) said.

A number of banks are likely to return government bailout money soon, Treasury Secretary Timothy Geithner told Wall Street's main trade group.

Stewart Title of Albuquerque announced Tuesday the first eNotary-outfitted title operation in New Mexico.