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Servicing income rose last year but not enough to offset other expenses.

Prior to 2006, the industry primarily relied on enforcing lender representations and warranties. Recent widespread litigation has shown the immense costs of relying on cures. Prevention is a better solution.

Mortgage rates fell for a fourth week, reducing borrowing costs for homebuyers during the key spring selling season.

Fannie Mae cut its forecast of industrywide home purchase lending for 2014 to $710 billion from $732 billion, underscoring the housing industry's struggles despite overall positive signs for the economy.

Mortgage applications climbed for the third consecutive week as a drop in interest rates spurred refinancing.

Increased overhead to support back-office compliance is driving up origination expenses to the point that mortgage bankers lost nine basis points on the loan origination function during the first quarter, preliminary Mortgage Bankers Association data show.

Congressional inaction on debt forgiveness provision leads to more foreclosures.

The housing recovery is continuing, albeit at a more sustainable pace, the brokerage giant says.

The trade group is now predicting $1.05 trillion of volume for this year as unemployment and tepid wage growth hold back homebuying.

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