Mortgage defaults

National foreclosure activity is at an 11-year low, but some cities have yet to fully recover.

Bayview Asset Management is marketing another $183 million of bonds backed by reperforming mortgages acquired last year from CitiFinancial Credit Co.

Radian Group earned $76.5 million for the first quarter, up 16% from $66.2 million one year prior, helped by a 25% year-over-year rise in new insurance written.

Housing prices in the Near West Side, Logan Square and a handful of other popular areas north of downtown are now well above their pre-crash peaks, but most of the city and the suburbs are still clawing their way back from the depths of the devastating crash.

The struggling Pittsburgh Athletic Association in Oakland has paid $55,000 towards taxes it owes the county for the 7% drink tax, preventing a scheduled sheriff's sale Tuesday morning at the iconic Fifth Avenue social club.

Incenter Mortgage Advisors is brokering an $898 million alt-A bulk servicing rights portfolio for an undisclosed bank.

MGIC Investment Corp. had net income of $89.8 million for the first quarter, an increase of nearly 30% over the same period last year of $69.2 million.

DLJ Mortgage Capital Inc. was the winning bidder on all four pools in Fannie Mae's second reperforming loan sale.

Late payments on securitized commercial mortgages rose again in March, led by industrial and retail property loans.

New research from the New York Fed confirms a lingering worry for the banking industry: More prime-age, college-educated borrowers are delaying the decision to take out their first mortgage as they focus instead on paying off their student loans.