Mortgage defaults continued trending down across the San Fernando Valley in January, but sales remained weak, a research center said Wednesday.

The City of Orlando filed plans Tuesday to buy hundreds of apartment units from Fannie Mae near the newly renovated Citrus Bowl.

More than half of borrowers with home equity lines of credit that will reset this year have seriously underwater properties, and that risk is likely to grow further next year.

The Federal Housing Finance Agency won't keep renewing initiatives like the Home Affordable Refinance Program in perpetuity, even if it is extended again before it expires in December, Director Mel Watt said Wednesday.