Colin Wilhelm

Bank of America has settled a national class-action lawsuit brought by former employees who claimed they weren't paid for overtime work.

Mortgage applications for the week ending Aug. 21 increased 20 basis points on an adjusted basis from the prior week, according to the Mortgage Bankers Association.

Detroit property values have increased the most in percentage of value of any city in the U.S. over the last year, a mortgage consulting firm found in its monthly survey.

Consumer credit default rates remained stable during the month of July, according to credit bureau Experian.

Mortgage application volume grew 3.6% on a seasonally adjusted basis compared with the week prior, according to the Mortgage Bankers Association.

Refinance application volume for the week ended Aug. 7 reached its highest level since the end of May, according to the Mortgage Bankers Association.

Housing demand and prices in urban centers is growing at a faster pace than the overall market, according to the newest quarterly report from Fitch Ratings.

Foreclosure inventory and completed foreclosures declined drastically during June, real estate analytics firm CoreLogic found in its monthly survey.

Farmer Mac reported a higher second-quarter profit, citing an increase in the value of financial derivatives and hedged assets.

PHH Corp. reported losses of $62 million for the second quarter, driven by major increases in operating expenses and a $46 million loss in the servicing segment.