Overall, little change was reported in the performance of first-lien mortgages serviced by national and federal savings banks during the 2011 fourth quarter, but the percentage of initiated foreclosures did see a steep drop, according to the Office of Comptroller of the Currency (OCC) Mortgage Metrics report. The percentage of current and performing loans decreased to 87.9 percent, a mere 0.1 percentage point drop from the previous quarter, but a 0.4 percent increase compared to the same period a year ago.

The Urban Land Institute released its Real Estate Consensus Forecast Wednesday morning, and overall, the 38 real estate economists and analysts surveyed project broad improvements for the economy. With signs of improvement in the housing sector already emerging, participants expect to see housing starts nearly double by 2014, and project home prices will begin to rise in 2013. The average home price, which has declined somewhere between 1.8 percent and 4.1 percent over each of the past three years, according to FHFA data, is expected to stabilize in 2012, followed by a 2 percent increase in 2013, and a 3.5 percent increase in 2014.

Standard & Poor's reported Tuesday that it's closely watched Case-Shiller index declined in January for the fifth straight month. But according to John Burns Real Estate Consulting (JBREC), that's stale news and doesn't reflect what's actually happening in the market right now. In fact, the independent research company says home prices are rising. JBREC conducted its own analysis of home prices in 97 markets and found that over the January-to-March period prices are up in 90 of them, with an average increase of 1.1 percent.

After a forecast from Moody's Analytics hinted that the Federal Housing Administration (FHA) is at risk of requiring a taxpayer bailout, the FHA released a myths and facts sheet and categorized speculation about a bailout as myth. ""Sweeping changes enacted by FHA since 2009, including an important series of recent steps such as the enforcement actions that resulted in over $900 million in compensation to FHA from settlement agreements with major banks, and further increases to FHA's insurance premiums, it is unlikely that FHA would require additional resources from the U.S. Treasury in FY 2012,"" the FHA stated.

Stewart Information Services Corp. received recognition by Forbes as one of the Top 100 Most Trustworthy Companies in America, the company announced in a release. The selection was made based on an audit of 8,000 companies listed on the U.S. stock exchanges.

The National Association of Hispanic Real Estate Professionals (NAHREP) announced the appointment of Gerardo Ascencio as the 2012 president of the nation's largest trade association for Hispanic real estate professionals. Juan Martinez succeeds Ascencio as president-elect. The two appointments will serve one-year terms in their new roles.

The Consumer Financial Protection Bureau (CFPB) filed an amicus brief on behalf of borrowers for their rights to cancel home equity-loans or second mortgages if they did not receive important disclosures required by the Truth in Lending Act (TILA). The amicus brief - or ""friend of the court"" - was filed to ensure proper implementation of statutes allowing certain borrowers to rescind on their loans if they notify the lender of their intent to cancel within three years of signing the loan.

After filing false liens against four federal government officials, a Washington state man was sentences to 41 months in prison Monday, the Justice Department and the Treasury Inspector General for Tax Administration (TIGTA) announced. Ronald James Davenport of Chewelah, Washington filed more than $20 billion in false liens on properties of a U.S. attorney and the court clerk of the Eastern District of Washington, an assistant attorney, and an IRS revenue officer, according to the evidence presented at trial in December 2009.

In California, the sale of distressed properties slowed down as equity sales picked up in February after two months of decline, the California Association of Realtors (C.A.R.) reported this week. ""A lack of inventory in the bank-owned (REO) and short sale market was a contributing factor to the decline in share of distressed sales in February,"" said C.A.R. President LeFrancis Arnold. The share of distressed properties that sold statewide decreased to 48.9 percent in February, down from January's 50.1 percent and from 55.2 percent a year ago in February 2011.

The Case-Shiller Home Price Indexes fell for the fifth straight month in January, with the 10- and 20-city composites each dropping 0.8 percent from December, Standard & Poor's, which compiles the indices, reported Tuesday morning. The 10-city index slid to its lowest level since May 2003 and the 20-city index dropped to its lowest level since December 2002. Home prices fell in 16 of 19 major cities during the month of January.