On July 5th a congressional committee on investigations headed by Darrell Issa, a Republican from California, released details of a sleazy mortgage-assistance programme provided to politicians and others perceived to be influential by Countrywide, a failed mortgage lender acquired during the crisis by Bank of America.
The Treasury Department released its third quarter assessment of mortgage servicers in the so-called Home Affordable Modification Program, or HAMP.
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Some key data due to be released this week includes the MBA Mortgage Index on Wednesday, initial claims on Thursday, and new home sales on Friday.
There is a housing recovery underway and the Mortgage Bankers Association recently released data showing that applications for home mortgages are at a multi-year high is a nice confirmation of the front line trend that I am seeing.
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However, they are in harmony with a report just released by the British Bankers Association saying mortgage lending by UK banks rose by almost a third in March.
Before the government released its figure on the health of the economy, the Mortgage Bankers Association gave its bleak report on mortgage applications.
Tight credit is making its presence felt in the U.S. economy, data released on Wednesday showed, with fresh indications of lost jobs, contracting manufacturing activity and falling mortgage applications.
Figures released by the Bank of England, after the RBS announcement had been made, showed that mortgage approvals dropped again in October - with just 32, 000 mortgages approved, 1, 000 fewer than in the previous month.
The figures are based on the Nationwide's own mortgage data, and show less of a bubble in the capital than Land Registry figures released on Wednesday which indicated house prices in London had risen by 7% in the year to the end of October.
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Figures released by Shelter suggest 1.5 million people across the UK are falling behind with their rent or mortgage payments.
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