Astepahead

After heading higher for three straight months, the nation’s unemployment rate declined to 9.1 percent in July, down from 9.2 percent in June, according to figures just released by the U.S. Department of Labor. The economy added 117,000 jobs last month.   July’s numbers beat analysts’ forecasts. ...

As of August 4, 2011, the FDIC has authorized suits in connection with 30 failed institutions against 266 individuals for D&O liability with damage claims of at least $6.8 billion. This includes 9 filed D&O lawsuits (1 of which has settled) naming 68 former directors and officers. The FDIC also ...

Personal income increased $18.7 billion, or 0.1 percent, and disposable personal income (DPI) increased $16.3 billion, or 0.1 percent, in June, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $21.9 billion, or 0.2 percent. In May, personal income in...

The commercial mortgage-backed securities (CMBS) market had been abuzz with positive momentum and murmurings of recovery for the better part of this year, but Trepp says that has all but vanished within the past few weeks. The research firm reported Tuesday that its latest monthly CMBS delinquenc...

  In its own private negotiations with state attorneys general and officials at HUD and the U.S. Justice Department, Bank of America is reportedly bringing principal reductions to the bargaining table.  BofA and four other mortgage servicers have been in discussions with state and federal officia...

The House Financial Services Committee is considering a bill to ease the pressure that unsold inventories of vacant, foreclosed homes are putting on the housing market. The Neighborhood Preservation Act would authorize FDIC-member banks, Fannie Mae, and Freddie Mac to enter into five-year lease a...

The nation's housing crisis has forced unprecedented numbers of homeowners out of their homes, made for a difficult homebuying environment, and tainted many Americans' ideal of owning a home. These factors are taking their toll on homeownership in this country. The Census Bureau says homeownershi...

Short-sale disputes were designated as the most significant legal issue facing real estate professionals, according to a recent study by the National Association of Realtors. Almost 55 percent of survey respondents listed short sales as the cause of "a significant number of disputes." REO-related...

July 27, 2011 Summary of Current Economic Conditions by the Federal Reserve Economic activity continues to grow but the pace has moderated in many parts of the country, weighed down by a persistent weakness in the residential real estate sector, according to the latest market-gauging Beige Book ...

The Federal Housing Administration's (FHA) Mortgagee Review Board has announced sanctions against 240 FHA-approved lenders. The federal agency says these lenders failed to meet its underwriting requirements for home loans, which are designed to minimize the risk of default. Actions taken against ...