Bernanke Says Pace of Recovery Has Been 'Extremely Sluggish' Bloomberg Federal Reserve Chairman Ben S. Bernanke said the pace of recovery from the recession has been "extremely sluggish," while action by the world's central banks helped prevent another Great Depression. Bernanke made his comments in slides prepared for a ...

Bank of America's Countrywide Wins Walnut Place Dismissal Bloomberg Bank of America Corp. (BAC)'s Countrywide won dismissal of a lawsuit filed in New York State Supreme Court in Manhattan related to mortage securitizations totaling $2.8 billion, according to court records. The plaintiff, Walnut Place LLC, ...

WASHINGTON (MarketWatch) - The Senate Banking Committee on Thursday approved President Barack Obama's nominees to fill two vacancies on the Federal Reserve Board of Governors. The panel backed Harvard University economics professor Jeremy Stein, a Democrat, and former private-equity executive Jerome Powell, a Republican. The nominations now move to the Senate floor for a final confirmation vote. Sen. David Vitter, a Republican of Louisiana, said Wednesday he will oppose the nominees, which seemed to end chances of quick floor vote before the Senate begins a two-week recess at the end of the week.

TransUnion Payment Hierarchy Study Finds Consumers Paying Auto Loans Before Credit Cards and Mortgages<br/>http://transunion.mwnewsroom.com/press-releases/transunion-payment-hierarchy-study-finds-consumers-0867903?feed=abde9b49-8716-4c7b-b7a3-bff44ca35beb

-Lower Foreclosure Rates than a Year Ago For Sixty-One of the Top 100 CBSAs- CoreLogic (NYSE: CLGX) , a leading provider of information, analytics and business services, today released its National Foreclosure Report for February, which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates. There were approximately 65,000 completed foreclosures in February 2012, compared to 66,000 in February 2011, and 71,000 in January 2012 . The number of completed foreclosures for the 12 months ending in February was 862,000. From the start of the financial crisis in September 2008, there have been approximately 3.4 million completed foreclosures. Approximately 1.4 million homes, or 3.4 percent of all homes with a mortgage, were in the foreclosure inventory as of February 2012 compared to 1.5 million, or 3.6 percent, in February 2011 and 1.4 million, or 3.4 percent, in January 2012. Nationally, the number of borrowers in the foreclosure inventory decreased by 115,000, a decline of 7.6 percent, in February 2012 compared to February 2011. "The pace of completed foreclosures is down slightly compared to January, running at an annualized pace of 670,000, but compares favorably to the pace of completed foreclosures in February a year ago. Even though the pace of completed foreclosures has slowed, the overall foreclosure inventory is decreasing because REO sales were up in February," said Mark Fleming, chief economist for CoreLogic. "With the spring buying season upon us, the inventory may decline further as the pace of distressed-asset sales rises along with the rest of the housing market." "In February, more than 60 major markets saw a decrease in their foreclosure rates compared to a year ago," said Anand Nallathambi, president and CEO of CoreLogic. "This combined with faster REO-clearing rates, better employment news, and continued historically low interest rates are all positive signs of improvement in the...

McLEAN, Va., March 29, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates, fixed and adjustable, moving l...

Fannie Mae and Freddie Mac aren't granting reductions in homeowners? loan balances, but a handful of Americans who have gotten into trouble on their mortgages are actually seeing their loan balances cut.

Bloomberg Geithner Says Fannie, Freddie Should Cut Principal in Some Cases Bloomberg US Treasury Secretary Timothy F. Geithner told a US Senate panel that he believes Fannie Mae and Freddie Mac should reduce principal on some home mortgages. "We've been encouraging Fannie and Freddie to take another look at the map, at the economics of ... and more »

H.R. 4264, a bill to shore up the Federal Housing Administration's mortgage insurance fund, was cleared by the House Financial Services Committee Tuesday on voice vote and awaits House action.