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.

Guardian Mortgage has named a Bank of America executive to succeed Marcia Phillips as chief executive.

CIT Group has completed its acquisition of OneWest Bank in Pasadena, Calif.

Investors Bancorp reported higher second-quarter profit on expanded multifamily, commercial real estate and business lending, as well as lower expenses.

Mortgage applications for the week ending July 24 rose by nearly a percentage point, according to the Mortgage Bankers Association.

The Federal Housing Finance Agency is still not producing enough adequately-trained examiners necessary to monitor Fannie Mae and Freddie Mac, according to an inspector general report.

Flagstar Bank far outpaced expectations for its second-quarter results due to high loan sales and a strengthened portfolio from the subtraction of lower performing loans.

The U.S. economy was stronger than expected, according to Fannie Mae's analysis of this year's second quarter.

Astoria Financial in Lake Success, N.Y., reported a 40% increase in second-quarter earnings as stronger fee income from mortgages helped it overcome a considerable shrinkage in loans.

Interest rates for fixed mortgages fell in the week ending July 23, but short-term adjustable-rate mortgages saw modest increases, according to Freddie Mac's primary mortgage market survey.

The Consumer Financial Protection Bureau has issued its final rule for the "Know Before You Owe" mortgage disclosure rule, which is also known as TILA-RESPA or TRID.