Kate Berry

California lawmakers on Monday passed a package of foreclosure prevention bills that will slow foreclosures, impose stricter rules on mortgage servicers and potentially raise the cost of home loans.

In a last-minute reversal, David H. Stevens, the president and chief executive of the Mortgage Bankers Association, will remain at the trade group rather than departing to run SunTrust Mortgage, as he announced plans to do a month ago.

The Federal Housing Administration says April foreclosure statistics from Lender Processing Services were inaccurate.

Robert Maddox, who negotiated the $25 billion national mortgage settlement on behalf of Ally Financial, insists that the penalty far exceeds the damage done to borrowers.

Citigroup (NYSE: C) announced two programs Thursday aimed at helping current and former members of the military with their mortgages

Banks and government agencies face several problems with their plans to rent out their backlog of foreclosed homes, especially if they try to securitize those rentals, according to Morningstar Credit Ratings.

Some analysts say the government-sponsored enterprises are sending a bold signal to banks that elevated buyback demands will continue and may peak this year.

The percentage of delinquent mortgages has fallen to the lowest level in four years due primarily to the strengthening economy, officials with the Office of the Comptroller of the Currency said Wednesday.

Regions Financial is trying to make its products easier for customers to understand, in the latest example of a bank simplifying its disclosures.

First Horizon National (FHN) in Memphis said Monday that it will take a $272 million charge in the second quarter primarily for mortgage repurchases from Fannie Mae and Freddie Mac.

Among the strongest industry rationales for a national mortgage servicing settlement was that it would break the legal stalemate over a huge backlog of delinquent loans. But five months after the deal was formally struck, the promised spike in foreclosures hasn't arrived.

Homeowners who faced wrongful foreclosure actions due to big banks' mortgage servicing failures are entitled to cash payments of as little as $1,000 to up to $125,000, according to new federal guidelines. But consumer advocates say that disparity is too wide.

Six out of 10 homeowners who received a loan modification stopped paying their mortgage again after 18 months, but there may be a modest silver lining buried in the high recidivism rates.

Hispanic customers of JPMorgan Chase and Wells Fargo have long been able to pay bills or transfer money online — but only in English.

Hispanic customers of JPMorgan Chase and Wells Fargo have long been able to pay bills or transfer money online — but only in English. Now both companies are planning to expand their Spanish-language online banking services by early next year.

The Federal Housing Administration has rescinded guidelines that would have made it harder for consumers to qualify for a mortgage if they have a collection action or disputed credit account of at least $1,000.

If a bank doesn't disclose what it's not charging, someone might assume it is charging that fee without disclosing. Pew Charitable Trusts made that assumption, and says consumers could too.

Fannie Mae went in-house to recruit three of its last four CEOs, a strategy likely calculated to rebuild internal morale. Freddie Mac hired three of its last four chiefs from outside, signaling continued housecleaning.

Occupy protestors staged sit-ins at a foreclosed home in Minneapolis that resulted in 20 arrests. Problem is, the homeowners had vacated the property weeks before the protestors arrived.

The non-profit group said four of the top 12 banks including BB&T Corp., HSBC Finance Corp., Regions Financial, and Capital One Financial Corp. did not disclose the size of overdraft penalty fees in writing either on checking account home pages or on the Web pages describing specific accounts.